BANKABLE FUNDS

Forms of payment that are accepted at financial institutions. Retailers and other organizations that directly accept payments from customers typically request that any payments be made in forms that can be redeemed and accepted by the bank.

For example, cash and cashier checks are forms of bankable funds; they are readily accepted and deposited at all major banks. On the other hand, other forms of assets such as precious metals and stocks (although they may have considerable value), will generally not be accepted as a form of payment.