certified funds
Bank-backed money
Certified funds are forms of payment guaranteed by a financial institution, ensuring the money is available and will not bounce.
Unlike personal checks, which may fail if an account lacks sufficient funds, certified funds have already been verified and set aside by the bank.
Common forms include cashier's checks, certified checks, and money orders.
The closing agent required certified funds for the down payment.
Real estate transactions, large purchases, and legal settlements typically demand certified funds to eliminate payment risk.
- cashier's checkBank-guaranteed negotiable instrument
- bank draftGuaranteed payment instrument
- money orderPrepaid negotiable instrument
- bank guaranteeInstitution-backed payment promise
- escrowConditional third-party deposit
wire transfer · notarized · deposit · settlement · closing · closing costs · real estate · teller · secured · liquid assets · authentication · endorsement · payee · irrevocable · financial institution · down payment · mortgage · title company
certified fundspersonal check
Written order to pay
rubber check · bounced check · bad check · hot check · dishonored check
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