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What Is a Cashier’s Check and How Do I Buy One?
A cashier’s check is a safe way to make large payments. Most banks and credit unions offer them.
Alice Holbrook Assigning Editor | Homebuying, savings and banking products
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Discover savings accounts that best fit your financial goals
Just answer a few questions to compare accounts that meet your needs.
A cashier’s check is a check drawn from the bank’s own funds, not yours, and signed by a cashier or teller. Unlike a regular check, the bank, not the check writer, guarantees payment of a cashier’s check. A cashier's check can also be called an official check.
When do I need a cashier's check?
Cashier’s checks are good for large purchases, such as a car or house sale, when you likely can't use a debit or credit card, and using cash is risky. These checks have extra security features — such as watermarks and sometimes signatures by two bank employees — that make counterfeiting more difficult. So when you purchase one from a bank or credit union, all parties can be confident that the transaction is secure and the risk of theft or fraud is minimal.
4.20%SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
4.75%Annual Percentage Yield (APY) is accurate as of 05/09/2023. APY is variable and subject to change at any time without notice. No monthly service charge. No minimum balance requirement. Must fund with 15 days of opening account.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
4.50%Annual percentage yield (variable) is as of 5/8/23. 5.00% APY with a $75K deposit or 4.75% APY with a $25K deposit. New customers only with qualifying deposit. Terms apply.
Min. balance for APY
$0
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
3.30%Your annual percentage yield can be as high as 3.30% based on the following combined rate rewards: direct deposits (not including intra-bank transfers from another account) totaling $1,500 or more each month will earn 0.40%. A qualifying direct deposit is required for the remaining interest rate qualifications to apply. Ten (10) point-of-sale transactions per month using your Rewards Checking Visa® Debit Card for normal everyday purchases with a minimum of $3 per transaction, or enrolling in Account Aggregation/Personal Finance Manager (PFM) will earn 0.30%; maintaining an average daily balance of at least $2,500 per month in an Axos Self Directed Trading Invest account will earn 1.00%; maintaining an average daily balance of at least $2,500 a month in an Axos Managed Portfolio Invest account will earn 1.00%; and making a monthly payment to an open Axos Bank consumer loan (commercial and business loans excluded) via transfer from your Rewards Checking account will earn a maximum of 0.60%.
Monthly fee
$0
Money market accounts pay rates similar to savings accounts and have some checking features.
Money market accounts pay rates similar to savings accounts and have some checking features.
Most banks and credit unions offer cashier's checks to their customers, though some might also offer this service to non-customers. Here's how to get a cashier's check:
Have the exact amount, the recipient's name and personal identification ready. Cashier's checks are drawn on a financial institution's funds, but you supply the check amount (in the form of cash or as a withdrawal from your account) to your bank ahead of time. You’ll also need the name of the "payee," the business or person you are paying, since you can't get a blank cashier's check. You should have your ID ready, too; the teller will probably ask to see it.
Visit a nearby branch and request the check from a teller. Some banks, especially online-focused ones, might also allow you to order a cashier's check online or by phone. In those cases, a cashier's check would then be mailed to your recipient, which takes longer. If you need the check that day, visit a branch if your bank has one, or find a bank or credit union that accepts non-customers.
Pay the check amount plus any applicable fee. If the funds are in an account at that institution, the full amount of the check will be frozen in your account or withdrawn when the check is issued. Make sure you have enough in the account to pay any fee as well. If the bank gives checks to non-customers, you’ll typically pay in cash. The teller will issue and sign the cashier's check.
Get a receipt. Ask for a receipt as proof of payment. You might be able to use this to track the check to know if it’s been cashed or in case you lose it.
If you don't have a checking account at a bank or credit union, you might need to open one. Banks and credit unions are the only institutions that can issue cashier's checks, and many don’t provide them to non-customers. Call a bank or credit union branch near you to inquire if you can get a cashier’s check as a non-customer. If opening a bank account isn't practical, a money order might be your next-best option.
Many banks and credit unions offer cashier's checks though some differ on terminology, calling them “official checks.” Ask your financial institution for availability and pricing. Some financial institutions offer reduced fees or no fees for certain account holders. Many sell them only to account holders.
Here's a list of cashier's check fees at popular banks.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
$20 online with overnight shipping; $10 in branch.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
$8.
Secure, Premier Plus℠, Sapphire℠ and Private Client Checking customers.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
Two free per account per day, $5 for each additional check.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
$10.
Performance Checking, Performance Select Checking and Foundation Checking customers.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
$10.
Select Checking or Select Money Market Savings customers.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.
$10 in person; $18 for online orders.
Portfolio by Wells Fargo account holders.
*TD Bank is only available on the East Coast: CT, DC, DE, FL, MD, ME, MA, NC, NH, NJ, NY, PA, RI, SC, VT, VA.
What if I lose the cashier's check?
Canceling a cashier's check is generally not an option. If you lose a cashier’s check, the bank may require that you get an indemnity bond before issuing another one. (Here's more information about indemnity bonds and what to do if you lose a cashier's check.)
The bond, which is not that easy to get, makes you liable for the replacement check, according to the U.S. Office of the Comptroller of the Currency. The OCC recommends contacting an insurance broker for help.
Even with the bond, the bank may require that you wait more than a month for a replacement check.
A smart way to monitor your money
Track your cash, cards, and bank accounts all at the same time.
Cashier’s check vs. certified check vs. money order
A cashier’s check is drawn from the bank’s own funds, not yours whereas a certified check is a personal check written by you and drawn on your account. The bank certifies that the signature is genuine and that you have sufficient funds to cover the check when it was issued. (Here are tips on when you should use a certified check.)
Money orders are a prepaid payment. They are often restricted by a maximum amount. For example, the U.S. Postal Service has a $1,000 limit on money order purchases. Unlike cashier’s checks, money orders aren’t backed by a bank since they are paid in advance, usually with cash or a debit card. (Here's when it makes sense to use a money order.)
4.20%SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.20% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 04/24/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
4.75%Annual Percentage Yield (APY) is accurate as of 05/09/2023. APY is variable and subject to change at any time without notice. No monthly service charge. No minimum balance requirement. Must fund with 15 days of opening account.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
4.50%Annual percentage yield (variable) is as of 5/8/23. 5.00% APY with a $75K deposit or 4.75% APY with a $25K deposit. New customers only with qualifying deposit. Terms apply.
Min. balance for APY
$0
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
3.30%Your annual percentage yield can be as high as 3.30% based on the following combined rate rewards: direct deposits (not including intra-bank transfers from another account) totaling $1,500 or more each month will earn 0.40%. A qualifying direct deposit is required for the remaining interest rate qualifications to apply. Ten (10) point-of-sale transactions per month using your Rewards Checking Visa® Debit Card for normal everyday purchases with a minimum of $3 per transaction, or enrolling in Account Aggregation/Personal Finance Manager (PFM) will earn 0.30%; maintaining an average daily balance of at least $2,500 per month in an Axos Self Directed Trading Invest account will earn 1.00%; maintaining an average daily balance of at least $2,500 a month in an Axos Managed Portfolio Invest account will earn 1.00%; and making a monthly payment to an open Axos Bank consumer loan (commercial and business loans excluded) via transfer from your Rewards Checking account will earn a maximum of 0.60%.
Monthly fee
$0
Money market accounts pay rates similar to savings accounts and have some checking features.
Money market accounts pay rates similar to savings accounts and have some checking features.
Avoid taking a cashier’s check from someone you don’t know. If you do receive one, wait to use the funds until several days after the check has been deposited, or check with your bank to make sure it has cleared. Many banks place a hold on amounts over $5,525 until the check has been cleared by the issuing bank.
