A cashier's check is a check for which

A) needs a special endorsement.
B) both the drawer and the drawee are the same bank.
C) two parties must agree to be bound.
D) there are two separate banks.
E) where there are three responsible parties.

Depositary Bank

A financial institution that receives a deposit, especially one authorized to hold funds or securities for others.

Payor Bank

The bank responsible for disbursing the funds indicated on a check.

Drawer

In the context of banking and checks, the individual or entity that writes and signs a check, directing a bank to pay the stated amount.