Cashier's check

The confirmed German bank check (previously confirmed LZB check, colloquially simply Federal Bank Check) is a very secure method of payment of the Deutsche Bundesbank with a temporary Einlösegarantie.

The related branch office brings on the back of the check to an auditor's report that contains the confirmation period, the amount and confirm that this check can be collected in order to immediate unconditional credit to the checking account of the redeemer. At the same time, the Federal Bank debits the checking account of the exhibitor at the Bundesbank and include the amount of the check plus a processing fee. With the expiry of the confirmation period of the checks, the liability of the Federal Bank expires. If the check is submitted after the deadline, it the Bundesbank treated under the simplified check and direct debit as an uncertified check.

The cash payment to a confirmed federal bank checks is basically in all branches of the Deutsche Bundesbank possible, unless a cash payment exclusionary note was (eg, " only to offset " ) mounted on the check.

In practice, banks can get their customers confirmed by Federal bank checks by drawing checks on their federal bank account, confirm it and deliver it to the customer.

Confirmed Federal Bank checks found in legal transactions using that usually make immediate payment in cash required if awarded, such as auctions and foreclosures.