How Much Does a Cashier’s Check Cost?

A cashier’s check is a secure form of payment guaranteed by the financial institution that issues it, rather than an individual’s personal account. The bank or credit union backs the check with its own funds, ensuring the money is available. This makes cashier’s checks a preferred method for significant transactions, such as large purchases or payments requiring guaranteed funds, providing assurance the payment will not bounce.

Typical Costs of Cashier’s Checks

Financial institutions typically charge a fee for issuing a cashier’s check. This fee covers the service of guaranteeing the funds, which distinguishes it from a standard personal check. The cost generally ranges from approximately $5 to $20 per check.

The fee for a cashier’s check is set by each individual institution and can vary. Some financial institutions may offer cashier’s checks for free to certain account holders. This benefit is often extended to customers with premium checking accounts, long-standing relationships, or those who maintain specific balance tiers within the institution.

Where to Get Cashier’s Checks

Cashier’s checks are primarily obtained from banks and credit unions. Most financial institutions provide this service to their account holders, often requiring customers to have sufficient funds in their account to cover the check amount plus any applicable fees. The funds for the check are typically debited from the customer’s account immediately upon issuance.

Some institutions may issue them to non-customers. However, non-customers often need to pay the full amount in cash and may face higher fees or be denied the service based on policy. To obtain a check, individuals typically need to provide government-issued photo identification and the exact name of the recipient, as blank cashier’s checks are not issued.

Factors Affecting Cashier’s Check Fees

Several factors can influence the fee charged for a cashier’s check. An individual’s customer status, specifically whether they are an account holder or a non-customer, plays a significant role. Non-customers are more likely to incur higher fees or may find that some banks do not offer the service.

The type of account held with a financial institution can also affect the cost. Many premium checking accounts or higher-tiered accounts include free cashier’s checks as a benefit. Customers with a strong relationship with the institution might also receive preferential treatment regarding fees. Each bank or credit union sets its own fee schedule, leading to variations in cost across different institutions. Slight fee differences can also arise due to regional banking practices.