Asked by autumn hager on May 13, 2024
Verified
A check drawn by a credit union on its account at a federally insured bank would be an example of a:
A) cashier's check.
B) teller's check.
C) counter check.
D) traveler's check.
Credit Union
A member-owned financial co-operative that offers similar banking services as banks, but profits are returned to members in the form of lower loan rates and higher savings rates.
Federally Insured
Federally Insured refers to financial deposits or products protected by a federal agency, such as the FDIC, against loss up to a certain limit.
- Identify the unique features that set apart different categories of checks.
Verified Answer
AL
Ashley LachapelleMay 18, 2024
Final Answer :
B
Explanation :
A teller's check is a draft drawn by a bank (as drawer)on another bank or payable at or through a bank [3-104(g)and (h)].
Learning Objectives
- Identify the unique features that set apart different categories of checks.