Types of Checks and Money Orders
Stop by an ICCU branch and we will be happy to help with any check or money order needs.
Money orders are certificates that a payee can exchange for cash. They are excellent for transactions under $1,000. Maybe you need to pay a bill, make a purchase, or give the gift of money.
Cashier checks are good for large purchases, like buying a car. They are more secure than personal checks because they are considered guaranteed funds and they don’t show your account number.
Payoff checks are used for paying off the remaining balance on a loan. These are guaranteed funds and can be payable to a specific payee such as a financial institution or dealership.
Official checks are good for large transactions such as closing accounts or funding loans. These are also considered guaranteed funds because they use immediate funds from your account.