How Much Does a Bank Check Cost? A Fee Breakdown
Navigate the costs of bank checks with clarity. This guide illuminates fee structures, influencing factors, and the process for secure transactions.
A bank check, often known as a cashier’s or official check, is a secure payment instrument issued directly by a bank or credit union. Unlike a personal check, the financial institution itself guarantees the payment, drawing funds from its own account rather than the customer’s. This method is frequently used for large transactions, such as making a down payment on a home or purchasing a vehicle, where the recipient requires guaranteed funds.
Understanding Bank Check Costs
The cost of obtaining a bank check typically ranges between $10 and $15. This fee can vary depending on the financial institution issuing the check. While many banks charge for this service, some credit unions or specific account types may offer them for free or at a reduced cost.
A significant factor influencing the fee is whether the individual is a customer of the issuing bank. Non-customers may face higher fees or might not be able to obtain a bank check at all from certain institutions. Some premium or high-balance checking accounts often include free bank checks as a benefit, allowing account holders to avoid these standard charges.
The quantity of checks requested usually does not affect the per-check cost, as fees are typically assessed per individual check. If expedited services are required, such as rush delivery for an online order, additional charges may apply, potentially adding an $8 delivery fee.
Specific Check Types and Their Fees
Different types of bank-guaranteed payment methods serve varied purposes and come with distinct fee structures. A cashier’s check, backed by the bank’s own funds, is widely accepted for large transactions and generally has no upper dollar limit.
A certified check is a personal check where the bank verifies the customer’s signature and confirms that sufficient funds are available in the customer’s account, then earmarks those funds. While the funds are drawn from the customer’s account, the bank’s certification provides a layer of security. Fees for certified checks often range from $10 to $20, sometimes making them slightly more expensive than cashier’s checks.
Money orders are another payment option, generally used for smaller amounts, often with limits around $1,000. These are typically less expensive than cashier’s or certified checks, with fees usually between $1 and $5. Money orders can be purchased from banks, post offices, or various retail locations, with non-bank locations sometimes offering lower fees.
Process for Obtaining a Bank Check
To obtain a bank check, individuals typically need to visit a branch of their bank or credit union. You will need to bring government-issued photo identification, such as a driver’s license, for verification. If you are an account holder, having your account number readily available can streamline the process, though bank staff can often locate it with your personal information.
Provide the exact name of the recipient or entity to whom the check should be made payable. Blank bank checks are not issued. Specify the precise amount of the check. An optional memo line can note the payment’s purpose. The funds for the check, plus any associated fees, will be immediately withdrawn or frozen from your account.
After providing the necessary information and funds, the bank teller will issue the bank check and provide you with a receipt. Retain this receipt as proof of purchase and for tracking or in case the check is lost. While most bank checks are obtained in person, some financial institutions allow existing customers to order them online or by phone, with the check then being mailed to them.