What Is a Cashier’s Check & How Do You Get One?

A cashier’s check is a secure payment method, issued and guaranteed by a bank. Unlike a personal check, it is drawn directly on the bank’s own funds. This provides security for both the remitter (payer) and the payee (recipient) in significant financial transactions where assured funds are necessary.

Understanding Cashier’s Checks

A cashier’s check is written by a bank or credit union against its own account, not a customer’s personal account. The bank guarantees the payment, making these checks preferred for large purchases, such as real estate deposits or vehicle acquisitions, where assured funds are necessary.

When issued, funds are immediately debited from the purchaser’s account and transferred to the bank’s internal account. This prevents the check from bouncing due to insufficient funds. The transaction involves the remitter (purchaser), the payee (recipient), and the issuing bank.

Steps to Obtain a Cashier’s Check

To obtain a cashier’s check, you will need to provide specific information and meet certain requirements at your bank or credit union. You must know the exact amount of the check, as this cannot be altered once issued. The full legal name of the payee, the person or entity to whom the check will be made out, is also required, as banks do not issue blank cashier’s checks.

You will need to present a valid government-issued photo identification, such as a driver’s license, for verification purposes. The funds for the check must be available in your account, or you can provide cash for the amount plus any associated fees. Banks typically charge a fee for issuing a cashier’s check, which can range from approximately $5 to $15, though some banks may waive this for certain account holders. The cashier’s check itself will display the bank’s name, the check number, the amount, the payee’s name, the remitter’s name, and an authorized bank signature.

Using and Verifying a Cashier’s Check

Once you have obtained a cashier’s check, the remitter presents it to the payee as payment. For the payee, depositing or cashing the check at their bank typically follows standard procedures. Funds for cashier’s checks deposited in person can often be available as soon as the next business day, though this can vary depending on the financial institution and the amount.

It is important to verify the authenticity of a cashier’s check, especially for the recipient, as counterfeit checks exist. The most reliable way to confirm a check’s validity is to contact the issuing bank directly, using a phone number obtained from an independent source, such as the bank’s official website, rather than a number printed on the check itself. This allows the bank to confirm the check’s legitimacy and the availability of funds. If a cashier’s check is lost or stolen, the purchaser should immediately contact the issuing bank to report it and inquire about stop payment procedures. Banks may require a “declaration of loss” and sometimes an indemnity bond, and a waiting period, often 90 days, might apply before a replacement check can be issued.