Even in today’s digital and mobile world where electronic money transfers are common, consumers and businesses may still prefer the assumed security of paper cashier’s checks or official bank checks for large or major
payments. Recipients generally prefer one of these checks over a personal check because the financial institution presumably has already
collected the funds from the party purchasing the cashier’s checks or official bank checks. This means the payment is guaranteed, unless
the check is counterfeit, so there are risks to consumers and businesses from these types of paper instruments, as well. Click here to read the complete article from the FDIC