How Long Does a Cashier’s Check Last?

A cashier’s check is a secure form of payment guaranteed by the issuing bank’s own funds. Unlike a personal check, the money for a cashier’s check is withdrawn from the purchaser’s account and moved to the bank’s account before issuance. This ensures funds are available, eliminating the risk of the check bouncing. Cashier’s checks are commonly used for significant transactions, such as real estate purchases, vehicle acquisitions, or security deposits, where guaranteed funds are required.

Validity and Bank Policies

There is no federal expiration date for cashier’s checks. While some sources suggest a check becomes “stale-dated” after a certain period, typically 90 days to a year, the funds remain the bank’s obligation. Banks may have internal policies that can lead them to refuse to cash very old checks due to fraud concerns or to encourage prompt deposit. If a cashier’s check has a “void after” date, contact the bank if that date has passed.

Even if a check is old, the money is still held by the financial institution. Individuals holding an old cashier’s check should contact the issuing bank directly to confirm its current status and the bank’s specific policy for handling such checks. Promptly cashing or depositing cashier’s checks is always advisable to avoid potential complications arising from their age.

Unclaimed Property and Escheatment

If a cashier’s check remains uncashed for a significant period, the funds may eventually be turned over to the state as “unclaimed property” through a process called escheatment. Unclaimed property refers to financial assets inactive for a specified dormancy period. This period varies by state, commonly ranging from three to five years, though it can differ.

Before funds are escheated, the financial institution is typically required to make efforts to contact the property owner. These efforts often involve sending written notices to the last known address. Even after funds are escheated to the state, the original owner or their heirs can still claim them from the state’s unclaimed property division. Many states provide online databases where individuals can search for unclaimed funds.

Addressing Lost, Stolen, or Destroyed Checks

If a cashier’s check is lost, stolen, or destroyed, immediate action is necessary to protect the funds. First, contact the issuing bank immediately. The bank will require specific details about the check, including the check number, exact amount, date of issuance, and the names of both the purchaser and payee.

The bank will likely require a “Declaration of Loss,” a legal statement confirming the check’s disappearance. In some cases, especially for larger amounts, the bank may also require an “Indemnity Bond.” This bond acts as an insurance policy, protecting the bank if the original check is later found and cashed, making the bond purchaser liable for any resulting losses.

A waiting period is usually imposed before a replacement check or refund, often around 90 days. This period allows time for the original check to potentially surface before new funds are disbursed. Banks may charge a fee for processing stop payment requests or issuing replacement checks.