How Much Does a Certified Check Cost?
Get clarity on certified check expenses. Understand the process, requirements, and fees for this secure payment.
A certified check provides a secure payment method, assuring the recipient that funds are available. This guide explores the nature of certified checks, their typical fees, and how to obtain one. They are often used for financial transactions involving substantial amounts.
What is a Certified Check
A certified check is a personal check verified and guaranteed by a bank or credit union. The financial institution confirms the account holder’s signature and ensures sufficient funds are in the account to cover the check amount.
Unlike a standard personal check, the bank earmarks the specific funds, making them unavailable for other use once certified. This process provides a higher level of security for the recipient, reducing the risk of the check bouncing.
Certified checks are frequently used for large transactions where payment assurance is needed. Common scenarios include purchasing a vehicle, making a down payment on real estate, or engaging in business with an unfamiliar party. The bank’s certification involves stamping or marking the check, guaranteeing the funds.
Where to Obtain Certified Checks
Certified checks are obtained in person at a bank or credit union branch. It is often easier to obtain one from your own financial institution where you hold an account. While some institutions may offer cashier’s checks to non-customers, obtaining a certified check typically requires an existing customer relationship.
Contact your bank before visiting to confirm they offer certified checks, as some institutions primarily issue cashier’s checks or other “official checks.” Certified checks cannot be obtained online or through mobile apps due to the physical verification process required. The teller or bank employee must verify your identity.
Understanding Certified Check Fees
The cost of a certified check varies by financial institution, customer status, and account type. Fees typically range from $10 to $20 per check. Some banks may offer certified checks for free to customers with certain premium accounts or as a benefit of their banking relationship.
Fees might range from $10 to $15. Non-customers, if allowed to obtain a certified check, might face higher fees compared to account holders. Consult your bank’s fee schedule or inquire directly about their specific charges before requesting a certified check.
What You Need to Get a Certified Check
To obtain a certified check, you must visit your bank branch and provide specific information and documentation. You will need a valid government-issued photo identification, such as a driver’s license or passport. The bank will also require the account number from which the funds will be drawn.
You must specify the exact amount of the check and the full legal name of the payee. Have sufficient funds available in your account to cover the check amount. The check is typically written by you in front of the teller, who then certifies it.