The expression of a Counter check is used in operations where the customer withdraws cash from a bank, but does not have a checkbook due to not having a checking account.
In general, banks have checkbooks to be used in this type of situation, the client only has to indicate the withdrawal amount and his account number.
Counter check features
The cashier check includes important features such as those shown below:
- This process is not used to withdraw the money generated by the different forms of credits approved by banks.
- Within this collection system, both the drawer and the beneficiary are the same individual, since it is from their own account where the money is obtained.
- It is necessary for the client to provide his account number, the amount he wants to withdraw and sign the document corresponding to this operation.
- It cannot be used as a means of payment, since it is a transaction that is only used to make cash withdrawals from the client’s own account.
- There is no specific figure for the amount that can be collected from a check at the counter , everything will depend on the limit approved by each bank.
- They cannot be endorsed to other people, as it is different from money order checks.
These checks are replaced by receipts that the client must sign to justify the withdrawal from the account in cash.
As it is not properly a check, but a receipt, it is an operation that does not include the following parts that correspond to the collection of a check from a checking account:
- Drawer : It is the individual, both physical and legal, who issues a check from your checking account.
- Drawn : This is the bank that is responsible for making the check cash.
- Beneficiary : It is the individual who collects the check.
- The cashier’s check is issued by a customer who does not have a checking account, but makes deposits and must buy the check from the bank to transfer.
- It is a check used as justification for the cash withdrawal that is made at the cash desk of a bank, the document must be signed as proof of collection.
- This type of check over the counter is not really a check, it is a document that the client signs to record that they have received the money from their own account.