Michaeli v. Greater New York Savings Bank

OPINION OF THE COURT

Memorandum.

Judgment affirmed, with $25 costs.

It has been consistently held that teller’s checks are the equivalent of cash (Savemart, Inc. v Bowery Sav. Bank, 111 Misc 2d 947; Fur Funtastic v Kearns, 120 Misc 2d 794) and a bank is thus burdened with the duty of protecting innocent third parties by safeguarding said checks (Savemart, Inc. v Bowery Sav. Bank, supra). Consequently, we are of the opinion that the degree of care exercised by the bank should be the same as that employed in safeguarding its cash. A review of the record reveals that the bank failed to live up to…