Cashier’s Check Purchase

Cashier’s Check Purchase

Cashier's Check Purchase
Cashier’s Check Purchase

Cashier’s Check Purchase

Cashier’s checks allow making payments with bank-backed funds guaranteed for recipient deposit unlike personal checks. They provide secure options over carrying large cash amounts. Understanding how to purchase cashier’s checks directly through banks or via mobile apps enables convenient access as payment needs arise.

What is a Cashier’s Check?

A cashier’s check is a check written by a bank, not from your personal account. The bank’s own funds secure the value, ensuring the recipient receives cleared payment similar to a money order. This provides guaranteed usable money.

Common reasons for obtaining cashier’s checks include:

  • Purchasing cars, homes or other high-value items
  • Providing security deposits for rentals or services
  • Paying contractors, vendors or suppliers
  • Sending gifts for weddings, graduations or special occasions

Cashier’s checks offer a flexible payment alternative to cash or personal checks. Recipients readily accept them.

Purchasing Cashier’s Checks In-Person

Most banks issue cashier’s checks on request when you visit a local branch. Typically, you must have an account relationship, but policies vary.

To buy a cashier’s check in-person:

  • Visit your bank and specify needing to purchase a cashier’s check
  • Complete a request form with date, payee name, amount and reason
  • Provide ID and account information if requested
  • Pay associated fees (typically $5 to $20 per check based on amount)
  • Ensure payee and amount accuracy before accepting the completed check

You can usually purchase checks for third parties also by providing their information.

Buying Cashier’s Checks at the ATM

Many banks allow purchasing cashier’s checks right from ATMs to skip branch lines and trips. This self-service ability provides 24/7 access.

Follow typical ATM cash withdrawal processes but select the cashier’s check option when prompted. Specify the check amount and payee details. Insert sufficient cash to cover the check value plus issuance fees.

The ATM vends the resulting payable check printed with bank backing instantly. Double check details on the check match your intended payee and amount before leaving the ATM.

Mobile Apps to Order Cashier’s Checks

Banks are increasingly allowing account holders to order cashier’s checks remotely through mobile apps and then pick up in branches.

Convenient options to purchase cashier’s checks via apps include:

  • Chase – Initiate check requests within Chase app specifying payee and amount. Select nearby branches for pick up.
  • Bank of America – Log in to app, access account features menu, and submit cashier’s check order details. Choose pickup location after approval.
  • Wells Fargo – Find Cashier’s Check Request link in app. Enter payee info and amount. Get notification when ready at chosen branch.

This remote process increases accessibility over set branch hours.

Third-Party Cashier’s Check Providers

If needing an occasional cashier’s check but lacking an account relationship with banks, third-party check cashing services and money transmitters like Western Union provide them for a premium cost.

For example, to use Western Union:

  • Visit a local Western Union agent location authorized to issue checks
  • Complete a request form with payee name, issue date, amount, and purpose
  • Provide government-issued ID proving identity
  • Pay check fee around 3-5% of amount plus agent service fees
  • Confirm check details before accepting to verify accuracy

While pricier, this option works if unbanked or just needing a one-time check.

Key Details to Provide and Verify

To ensure accurate issuance, know the key details required when purchasing cashier’s checks:

  • Your name and contact information
  • Full payee name (specific person or company)
  • Payee address if available
  • Check issue date
  • Exact check amount down to the cent
  • Memo line for payments toward a known account or obligation
  • Your account debiting if applicable

Review all printed check details carefully before signing off to catch and correct errors immediately.

Security Features of Cashier’s Checks

Cashier’s checks include numerous security features validating legitimacy and preventing fraud such as:

  • Watermarks visible at angles when held to light
  • Microprinting readable under magnification
  • Ultraviolet fluorescent ink glowing under black light
  • Color shifting ink changing hues when tilted
  • Embedded polymer strip woven into check paper
  • Security background patterns protecting from alterations

Ask banks to explain their anticounterfeit measures assuring real cashier’s checks.

Recording Cashier’s Check Purchases

When buying cashier’s checks:

  • Keep paper request forms or digital purchase receipts
  • Log the check numbers, amounts, payees and dates
  • Note the account debited if drawn from your funds
  • Staple details to any applicable invoices being settled

This creates a paper trail if questions arise or duplicate ordering issues. Never solely rely on bank records.

Following Up on Check Payment Status

You can follow up directly with payees to confirm they received funds and cashed the checks successfully. This provides closure on your end.

Ask for check cancellation procedures in the rare case a cashier’s check gets lost before deposit. Placing stop payments on conventional checks doesn’t apply to guaranteed bank checks.

If holding large checks long term, call the issuing bank to validate funds remain available when ready to deposit. Checks can expire after certain timeframes.

Avoiding Cashier’s Check Scams

Beware scams involving cashier’s checks where scammers:

  • Send fake checks requiring deposit before services rendered, then checks bounce
  • Request refund of deliberate overpayments via real checks that you cash then send funds before their reversal
  • Forge your endorsement on lost, stolen or fake checks to illegally cash out

Only accept checks in person from verified banks. Follow up on large checks before providing goods or refunds. Use checks solely for intended recipients.

Closing Thoughts

Cashier’s checks conveniently provide guaranteed funds for big purchases, deposits, private party payments, and gifts. Work directly with reputable banks or via mobile apps for on-demand purchasing with proper identification and details. Understand available security features. But confirm check accuracy at issuance and follow up on key recipient deposit confirmations to prevent potential misuse. With sound purchasing and tracking practices, cashier’s checks deliver flexible payments with confidence.

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