Certified Cheques

[B Foxtrot]

Is there any way to get your cheque certified for free at the major banks?

[brunes]

Is there any way to get your cheque certified for free at the major banks?

Just ask for a bank draft, usually they will not charge for it.

[WildEmu]

If you have the TD Select checking account, you get free certified checks

[westernartic]

If you have the TD Select checking account, you get free certified checks

Are you sure there certified.

[legendofxix]

Just ask for a bank draft, usually they will not charge for it.
I dunno where you got this information from.
Last I heard, all banks charge for bank drafts.

[westernartic]

I dunno where you got this information from.
Last I heard, all banks charge for bank drafts.

Bank draft cost $4.00.

[B0000rt]

Bank draft cost $4.00.
Account dependant.

http://www.tdcanadatrust.com/accounts/compare_chequing.jsp

Select Service account, free with a $5000 minimum balance gets you No Fee Drafts and certified cheques..

[brunes]

I dunno where you got this information from.
Last I heard, all banks charge for bank drafts.

Not necessarily. If you are nice and ask for the supervisor or whatever they usually don't charge you. I have gotten many bank drafts and never paid for the, and I have a standard account.

[jerryhung]

I get free Certified Cheques (i.e. Bank Drafts) from my TD Select Service
(they did want to charge me if the money source is not from my Select Service though, so I had to transfer into that and withdraw)

Honestly, if you need a Certified Cheque, it must be important enough
I don't see paying $4 an issue when you say write a $50,000 cheque for a house, or a $20,000 for a car, etc...

[B0000rt]

Honestly, if you need a Certified Cheque, it must be important enough
I don't see paying $4 an issue when you say write a $50,000 cheque for a house, or a $20,000 for a car, etc...
It's quite odd though, here in the states, they accepted my $20,000 personal 'check' when I was putting money down on my car. The salesman was like "Sure, no problem, we'll just call it in".

[sunnybono]

It's quite odd though, here in the states, they accepted my $20,000 personal 'check' when I was putting money down on my car. The salesman was like "Sure, no problem, we'll just call it in".

The reason is that in the US, you get caught giving a bad cheque, you go straight to jail. Here we don't enforce such strict law. The bank looks at it as a cost of doing business. That is why we have 3-5 day holds on personal cheques!!!!!

sk

[Hellfire]

I paid for an $100,000 Draft with a personal cheque. No hold or anything, and didn't pay for the draft either.

[B0000rt]

The reason is that in the US, you get caught giving a bad cheque, you go straight to jail. Here we don't enforce such strict law. The bank looks at it as a cost of doing business. That is why we have 3-5 day holds on personal cheques!!!!!

sk
Ah, that's frickin scary, thank god I never use 'checks' often.

[bobbycat]

I get free Certified Cheques (i.e. Bank Drafts) from my TD Select Service
(they did want to charge me if the money source is not from my Select Service though, so I had to transfer into that and withdraw)

Honestly, if you need a Certified Cheque, it must be important enough
I don't see paying $4 an issue when you say write a $50,000 cheque for a house, or a $20,000 for a car, etc...

is there any diff btwn a cashier check vs a certified check? :confused:

[Hellfire]

is there any diff btwn a cashier check vs a certified check? :confused:

Cashier Cheque is more of a term used in the US -- its basically the same thing as us saying Bank Draft or Money Order. (Only difference between a Bank Draft and a Money order is the draft can be for any amount, Money Order tops out at around $3K or something).

Cashier's Cheques, Money Orders and Bank Drafts are all drawn on the bank. Your name is not on them at all nor is your account number. The bank is issuing them, and its guaranteed funds.

A Certified cheque is one that you have written to someone, and then either you or they take it to the bank to verify the funds and ensure they are guaranteed. What happens is the teller using the cheque you wrote, verifies it and then moves the funds out of your account and into a special account. The account number on the cheque is then replaced with the special account number, and the usual "Do Not Destroy" is stamped all over it, the amount is protector graphed, and its stamped as certified.

[Thalo]

I paid for an $100,000 Draft with a personal cheque. No hold or anything, and didn't pay for the draft either.

That's cause you're staff. ;)

[Hellfire]

That's cause you're staff. ;)

LoL nope, I went to a diff bank. Besides staff don't get free bank drafts :( last time I tried they wanted to charge me

[Thalo]

Sure they do, you just gotta sweet-talk the tellers when the Manager of Customer Service isn't around.

[Hellfire]

Sure they do, you just gotta sweet-talk the tellers when the Manager of Customer Service isn't around.

LoL that's what I did to get it free, but still its not a perk of employment, you gotta sweet-talk your way into it, and hey, you can do that at any bank :P

[B Foxtrot]

thanks for the responses

[spy cl]

Not necessarily. If you are nice and ask for the supervisor or whatever they usually don't charge you. I have gotten many bank drafts and never paid for the, and I have a standard account.

just keep this in your mind, all certified cheques and bank drafts have standard charges. You didn't get charge because your bank did you a favor.

[tigger03]

Another thing to keep in mind: just b/c a cheque is "certified" or is a "bank draft" DOES NOT mean that there is no hold placed on the amount. Many banks put the standard 5 day hold on the cheque. Reason being is b/c there are several "altered" and "counterfeit" cheques going around (yes, even certified cheques and bank drafts".

The best thing to do is just write a personal cheque (since it's going to be held for 5 business days anyway) and save yourself the $ from getting it "certified" or purchasing a bank draft. The banks don't see it differently.

[UrbanPoet]

bank draft, money orders, and certified checks are all pretty much the same thing.
Guaranteed funds. You basically gotta buy that piece of paper. Its not like a check where they gotta deposit it and then wait for the funds to come out of your account.

Usually banks charge more to certify a check. Its cheaper to just buy a bank draft.

[tigger03]

bank draft, money orders, and certified checks are all pretty much the same thing.
Guaranteed funds. You basically gotta buy that piece of paper. Its not like a check where they gotta deposit it and then wait for the funds to come out of your account.

Usually banks charge more to certify a check. Its cheaper to just buy a bank draft.

True, they ARE guaranteed funds. But what some ppl don't get is that sometimes, these "cheques" are not taken at face value at most banks. There is STILL a 5-day business hold placed on all these "guaranteed" funds. Reasoning behind this: there are altered & counterfeit bank drafts, certified cheques, money orders, AND cashier's cheques. The US just had a big problem with the number of "cashier's cheques" going around ...