What Info Is Needed for a Cashiers Check?
Learn the precise information necessary to acquire a cashier's check. Ensure a smooth and successful transaction every time.
A cashier’s check represents a secure payment instrument, issued and guaranteed by a financial institution like a bank or credit union. Unlike a personal check, which draws funds directly from an individual’s account, a cashier’s check is drawn against the institution’s own funds. This characteristic provides assurance to the recipient that the funds are available and will not “bounce,” making it a preferred choice for significant transactions such as real estate purchases or vehicle sales.
Information from the Purchaser
To obtain a cashier’s check, the purchaser must provide specific personal details to the issuing financial institution. A primary requirement involves presenting valid government-issued photo identification, such as a driver’s license, state identification card, or passport. Financial institutions also require the purchaser’s full legal name and current address, ensuring consistency with their identification and existing bank records. Providing contact information, such as a phone number or email, may also be necessary for the institution to complete the transaction or for any follow-up.
The institution will also need to know the source of the funds for the check. If the funds are to be drawn from the purchaser’s existing account, providing the account number or specifying the relevant checking or savings account is essential. While the bank representative signs the cashier’s check itself, the purchaser will typically need to provide their signature on the request form or withdrawal slip to authorize the transaction. Having all this information prepared before visiting the bank can streamline the process.
Information About the Recipient
The purchaser must accurately provide specific details about the intended recipient of the cashier’s check to the financial institution. This includes the full, correct legal name of the individual or entity who will receive the payment. Precision is important, as even minor discrepancies can cause delays or issues for the recipient when attempting to cash or deposit the check.
If the recipient is an organization or business, their exact legal business name must be provided. Financial institutions generally do not issue blank cashier’s checks or checks made out to “cash” or “bearer” due to significant security concerns and the risk of unauthorized cashing. While not always required for the check itself, the recipient’s address might be beneficial for inclusion on the check’s memo line, especially if the check is being mailed directly to the payee by the bank after an online order.
Financial and Transaction Details
The exact amount for which the cashier’s check is to be issued is a fundamental piece of information the purchaser must provide. Confirm this precise figure beforehand, as the amount cannot be altered once the check has been printed. The purchaser must also specify how the check will be funded, whether through a direct withdrawal from their checking or savings account, or by providing cash.
If the payment involves cash exceeding $10,000, the financial institution is typically required to report the transaction to the Internal Revenue Service (IRS) by filing FinCEN Form 8300. This requirement applies to trades and businesses receiving such amounts in a single transaction or related transactions.
Institutions charge a fee for issuing cashier’s checks, which can vary, often ranging from approximately $5 to $15, and should be confirmed prior to the transaction. Purchasers may also request to include a memo line on the check to specify the purpose of the payment, although this is an optional detail.