A teller's check is a:
A) draft drawn by a bank on any other financial institutions other than a bank.
B) check drawn by a bank on an individual's funds.
C) draft on which the drawer or drawee are the same bank.
D) draft drawn by a bank on another bank or payable at or through a bank.

Question

Quizplus · Accepted Answer

The Uniform Commercial Code definition of a check includes a "cashier's check" and a "teller's check." A cashier's check is a draft on which the drawer or drawee are the same bank (or branches of the same bank); a teller's check is a draft drawn by a bank (as drawer) on another bank or payable at or through a bank.

A Teller's Check Is A