A cashier’s check or cheque is drawn on bank’s own fund in the name of an account holder of that particular bank. It is a guaranteed document in which the bank not the purchaser is responsible for making the payment. Cheque- cashiers are widely required in brokerage as well as real estate transactions. In this procedure the bank debits the requestor’s account by the same amount for which the cheque has to be prepared. Due to increasing frauds, banks keeps the payee waiting till the cheque gets cleared by the originating bank before the funds are made available for withdrawal.