Where Do I Get a Cashier’s Check and What Do I Need?

A cashier’s check is a payment instrument guaranteed by the issuing bank, drawn from the bank’s own funds, rather than a customer’s personal account. This provides a higher level of security. Cashier’s checks are frequently used for significant transactions, such as real estate purchases, vehicle acquisitions, or other substantial payments. They offer a reliable alternative when personal checks are not accepted or when a higher degree of trust is required in the transaction.

Obtaining a Cashier’s Check

Cashier’s checks are primarily obtained from banks and credit unions. While it is generally easiest to acquire one from an institution where you hold an account, some financial institutions may issue them to non-account holders. Such instances often require payment in cash and might incur a higher fee. Contact the bank or credit union beforehand to confirm their policy for non-customers.

Before visiting the institution, gather all necessary information and items. You must have the full amount of the check available, either as funds in your checking or savings account, or as cash if you are a non-account holder. A valid government-issued photo identification, such as a driver’s license or passport, is also required.

Additionally, you will need the exact legal name of the payee and the precise amount. Cashier’s checks cannot be issued blank; the payee’s name and amount must be specified at issuance. In some cases, the bank may also inquire about the purpose of the check for their internal records.

The Issuance Process

Once at the bank or credit union, approach a teller or customer service representative to make your request. State that you wish to obtain a cashier’s check. Provide the exact payee name and the precise amount of the check.

The teller will ask to see your valid government-issued photo identification to verify your identity. You will also need to indicate the account from which the funds should be drawn, or present the full amount in cash. The bank will then process the transaction, withdrawing or securing the funds.

Before the check is finalized, review the draft for accuracy, ensuring the payee’s name and amount are correct. The teller will issue and sign the cashier’s check. You will also receive a receipt for the transaction, which should be kept for your records as proof of payment and for tracking.

Key Considerations

Most financial institutions charge a fee for issuing a cashier’s check, which typically ranges from $5 to $15, with an average cost around $9 to $10. These fees can vary, and some banks may waive them for certain account holders or charge a different rate for non-customers. Always inquire about any applicable fees before proceeding.

Cashier’s checks incorporate various security features, including watermarks, security threads, color-shifting ink, unique serial numbers, and a signature from a bank employee. If you are receiving a cashier’s check, verify its authenticity by contacting the issuing bank directly using a phone number from an official source, not one printed on the check.

If a cashier’s check is lost or stolen, contact the issuing bank immediately. You will likely be required to file a declaration of loss with the bank. Due to the guaranteed nature of these checks, the bank may require you to sign an indemnity agreement or purchase an indemnity bond.

An indemnity agreement protects the bank from potential losses if the lost check is later presented. Without an indemnity bond, there may be a waiting period, often around 90 days, before a replacement check or refund can be issued. The cost of an indemnity bond typically ranges from 1% to 5% of the check’s value.