Cashier Checks: When To Use One and How To Get It

Cashier's Check vs. Money Order: What's the Difference? | Bankrate

When you are paying through checks, many people think of personal checks, but there are three different checks, it includes personal checks, certified checks, and cashier’s checks. Many people choose to use a cashier’s check over a personal check, as it does not come with the risk of a bounced check, which usually happens with personal checks. And due to this reason, a Cashier’s Check is one of the most preferred options for many when it comes to different payment modes. 

What Is A Cashier’s Check? 

A cashier’s check also known as an official check is a bank-issued check, where the bank provides a guarantee that the fund will be available when the payee checks out the cash. If you want to issue a cashier’s check, the bank will remove the amount from your account, so the payee will not have to worry about a bounced check. In this case, the amount will be safely held by the bank until the recipients cash it out. A cashier’s check is a guaranteed form of payment, and this is the reason why many people ask for payment in this form instead of a personal check. 

When To Use A Cashier’s Check? 

When you are making a financial transaction, a cashier’s check is a great option if the recipients ask for extra assurance. When the recipient asks for extra assurance, a cashier’s check is a great option, as it guarantees the payment. They are also great when you make large transactions, especially when you are buying a car or a house. When you are making large transactions, most recipients do not accept personal checks and cash, and most credit and debit cards usually have a credit and spending limit, so they are also not the most suitable options. So, in these situations, a Cashier’s check is the best option. Cashier’s check is the best option when you are making large transactions, such as paying for a house, car, or any other big purchases. 

How Can You Get A Cashier’s Check? 

You can get a cashier’s check in all banks and credit unions. You can visit your bank’s local branch in person and speak to a teller, or you can also request the cashier’s check to be sent through the mail, depending on your preference and the bank’s policy. When you get a cashier’s check, you will have to provide the personal information of your check recipient, a payment to cover the amount, and an additional fee for their service. In most cases, you will need to have an account in the back for them to issue this cashier’s check, but some do not require an account if you bring the cash to cover the check and the fee. One thing to note here is that the bank might charge a higher fee to non-customers. 

Are Cashier Checks Safe? 

Cashier checks are one of the safest forms of payment, but even in cashier’s check scams do exist, so you should be on the lookout. One of the most common scams is when the sender asks the recipient to send back the money once the check has been deposited. Some scammers will claim that you have won a reward and they’re sending a cashier’s check along with the reward, and all you will have to do is send an amount to cover the fee and the taxes. This is risky for you, as you will not only have to send an amount to cover the fee and the taxes, and once the bank realizes that the check is counterfeit, they will remove the fund from your account and you may have to pay a fee as well. To protect yourself from this type of scam, you need to be cautious of the checks that you receive from strangers. 

A Cashier’s Check is one of the safest modes of payment especially when you are making large transactions, but you also need to look out for scams. 

Jennifer Winget

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