What Is a Cashier’s Check? Definition, Cost, Use and How to Buy One - NerdWallet (2024)

FAQs

What is a cashier's check and how much does it cost? ›

Most banks and credit unions allow their customers to request a cashier's check. Depending on the bank, you may be able to order one in person at a local bank branch or online or using your bank's mobile app. There's usually a fee of around $10 to $15 for each cashier's check.

A cashier's check, also known as an official bank check, is a payment instrument issued by a bank or credit union to a third party, usually on behalf of a bank customer who pays the bank the face value of the check.

Fees for a cashier's check can vary between banks and credit unions but generally average around $10. Some financial institutions may waive these fees for customers who have certain types of accounts, such as premium or high-balance checking accounts.

Cashier's checks are typically deemed a safe way to make a large payment on a purchase. The difference from a regular check is that the bank guarantees its payment, not the purchaser.

Some cashier's checks have no specific expiration date and should theoretically be valid for as long as the issuing bank is operating. At the same time, some may become stale after 60 to 180 days. Typically, banks print the words "void after X days" on cashier's checks that can go stale.

The bank will then print the check to the person or business you have indicated in the amount you requested. It only takes a few minutes, and you can use the check right away. You may be asked if you want anything included on the memo line of the check.

Choose the right account: You can deposit a cashier's check into a checking account or savings account. If you don't have an account suitable for the deposit, consider opening an account that aligns with your financial needs. Fill out a deposit slip: If depositing at a bank, you'll need to fill out a deposit slip.

A cashier's check cannot bounce. Due to watermarks and required bank signatures, a cashier's check is hard to counterfeit. However, there are certain cashier's check scams to look out for. With a cashier's check, the funds are usually available to the payee by the next business day.

Cashier's checks are signed by the bank, while certified checks are signed by the consumer. Cashier's checks and certified checks are both official checks issued by a bank. Both are easy to get, relatively inexpensive and considered more secure and less susceptible to fraud than personal checks.

Can I buy a cashier's check with a debit card? ›

You must pay the exact amount for the cashier's check up-front with cash, a debit card or a check. You cannot purchase official checks like cashier's checks with a credit card. Simply put, you must have enough money to get the check.

Cashier's checks are typically used for larger purchases. Although the policy may change from bank to bank, generally there's no upper limit for a cashier's check. The payee typically has quicker access to a larger amount of the funds with a cashier's check.

Money orders typically are used for smaller, everyday transactions, such as paying a utility bill or a deposit on a rental apartment. If you need to make a payment of more than $1,000, you could simply buy multiple money orders to cover the cost. Money orders are cheaper than cashier's checks.

No, Wal-Mart does not offer cashier's checks. Some Walmarts have banks/credit unions in them. You would have to have an account at that institution, to get a cashier's check. They do sell money orders, however, as other answers have pointed out.

Cashier's checks are signed by the bank, while certified checks are signed by the consumer.

Virtually all financial institutions (traditional and online banks, credit unions) will issue cashier's checks.