Check Guarantee Cards:
I'm in the middle of a long post discussing a very interesting new Kozinski opinion, but I'm running into difficulty because I don't know how check guarantee cards work. If you happen to know the answer to these questions, please answer them in the comments: When a bank issues a check guarantee card to a bank customer, is that usually understood as a line of credit to the customer for the amount of the checks? Or are check guarantee cards simply promises to check recipients that the issuing bank will cover the check amount if there are insufficient funds? How are check guarantee cards ordinarily reovoked -- by notifying the cutsomer, or by cancelling the check guarantee "account"? Anyone who happens to know the practices of the Nevada Federal Credit Union in 1987 is particularly welcome to comment. Thanks.