Are cashier's checks like money orders: a "one-time use checking account"? If I got one at my local bank for $1,500, will they make a unique internal account for $1,500 and close it when the check clears, or do they have one account in which all cashier's check funds are pooled together?
No, cashier's checks are not like personal money orders. They are not considered deposit accounts as personal money orders are. Instead, they are considered direct obligations of the issuing bank.
They do have one thing in common with personal money orders, however. Both a bank's money orders and their cashier's checks are run through a single bank account (one for money orders and one for cashier's checks). In neither case does a bank set up an actual separate account for each issued check.
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No, cashier's checks are not like personal money orders. They are not considered deposit accounts as personal money orders are. Instead, they are considered direct obligations of the issuing bank. 