Cashier's check: definition
A cashier's check is usually used to confirm a money transaction by a bank. This is a direct bank guarantee that payment will be made on time. This is an official document signed at the cash desk in a bank, so it has full legal force. You need to know who does cashier’s checks.
The need for a check
Cashier's checks are used for large transactions. There is no purchase of a house or a vehicle without such documentary evidence. You cannot use your regular bank card for such transactions.
A cash receipt is an official bank document with additional security features that provide guarantees for payment. Often, unique watermarks and other security features are used to confirm the paper, which reduces the risk of forgery. If you buy something with a bank check, the chance of theft, fraud, or other misconduct in your transactions is significantly reduced.
How can I get a cashier's check?
Many banking institutions offer the opportunity to receive a bank check for processing the required transactions. As a rule, such an opportunity is available for a fee. Also, customers who do not belong to a particular bank can receive a bank check. The procedure for obtaining a bank cashier check is quite simple. You need to follow a few simple steps for these purposes:
- Prepare money and documents. The cashier's check is paid from the bank’s account to which you apply. For this reason, you need to prepare the required amount in advance for payment in cash or transfer them from another account. You also need to prepare the details of the person or company who will receive this payment since the cash receipt must be filled in with the required information. You also need to prepare an identity card to confirm the operation.
- Contact the nearest bank branch at your place of residence. Many banks where do you get a cashier's check also allow you to issue a cashier's check online or by calling a phone number, which significantly simplifies the task for customers. This option works a little longer since the bank needs time to confirm the payment and complete the transaction. If your bank branch is available nearby, go there. The staff will help you complete all the necessary paperwork.
- Get a receipt for successful payment. You should ask for a receipt from the bank staff with information that your payment was successful. This information is also necessary to track the operation’s success if there is a problem with the cashier's check.
If you do not have an open account with a particular bank, you will need to open an account to get a bank customer’s benefits. Otherwise, there is a chance that the bank will refuse to complete the transaction.
If you are not a client of a particular bank, call there in advance to clarify whether it is possible to carry out the operations you need without creating an account. If you don't want to set up a bank account, you should make a regular money transfer without drawing up a check. The process how to get a cashier's check is quite simple.
Cashier's check value
Many operating banks offer the opportunity to receive a bank check. Some organizations provide them for free, while others require a reduced fee. Features of the service depend on whether you are a client of the bank in question.
What to do in case of loss of a cashier's check?
You don't always want to cancel a cashier's check. If you lose it, you will have to pay for the damages. After that, you can get a new one. You are required by law to replace your lost cashier's receipt. Before doing this, it is recommended to contact an insurance broker to know how to do a cashier's check. You will have to get an insurance broker, but in any case, it will take more than a month to replace it.
Certified cash receipt and bank transfer
There are different banks where I can get a cashier's check. The bank issues a cashier’s check for its funds. A certified check you draw from your account. The bank confirms that your signature is genuine, and you will be able to cover all expenses on the bill.
The money transfer is used as a prepayment with the highest possible value. For example, the US Postal Service provides a $1,000 limit. Money transfers are not guaranteed by the bank, as they are carried out from clients’ accounts.
Fraud and how to avoid it?
Often there are many fraudulent transactions with cashier's checks. It is not recommended to take checks from strangers. They may use the funds for fraudulent transactions, so extreme caution should be exercised.
Getting a cashier's bank check is necessary for making large payments. Before requesting a check, prepare the required amount, followed by your ID and bank details. You should send a request to the bank or visit it in person. Pay all fees, and then receive a certified check. This is your proof of payment. Now you know what a cashier’s check is.