• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

What is a cashier's check?

A cashier's check is a check that's signed by a cashier or bank teller from a certified financial institution.

Your bank or credit union can print a cashier's check for you upon request, and the teller will transfer money from your account into the bank's own account and hold the money until the check is cashed.

When you give a cashier's check, the recipient can feel confident about being paid, because the bank will make certain the money is available. A cashier’s check can’t bounce because it's guaranteed to be legitimate.

Discover banking made refreshingly simple with Chime

Say goodbye to hidden fees and hello to no overdraft, no minimum balance, and no monthly fees. Get paid up to two days early with direct deposit. Join millions who trust Chime for easy, fee-free banking

Sign up today and start saving

When you need a cashier's check

If you’re purchasing a car or a house, you can expect to be asked for a cashier's check for the full cost or for a down payment. It's the most secure and fastest way to prove you have the money for the purchase.

Also, you can ask for a cashier’s check anytime you’re receiving a large payment from someone you don’t know. For instance, selling a car? If the buyer would rather not show up with a wallet full of cash, that’s fine. Just request a cashier’s check instead.

In fact, never accept a personal check in these situations. It may be difficult to get hold of the buyer if the check doesn’t clear.

How to get a cashier's check

If you need to use a cashier's check, the easiest and fastest way to obtain one is in person at your home bank or credit union.

A teller can quickly confirm that your funds are legitimate and cut the check for you. You should also have the check recipient's name on hand, as well as some form of your own personal identification.

Some banks will provide you a cashier’s check even if you don’t have an account there, but the process can be much slower.

More: Looking for a new bank? Check out the best banks of 2023

Find a financial adviser in minutes

Are you confident in your retirement savings? Get advice on your investment portfolio from a certified professional through WiserAdvisor. It only takes 5 minutes to connect with an adviser who puts you first.

Get Started

How much does a cashier's check cost?

Cashier's checks aren't free. The website MyBankTracker surveyed the 10 biggest banks in the U.S., and the average cost of a cashier’s check was $9.10.

Cashier's check vs. personal check

When you write a personal check, the money is withdrawn from your personal account and may take days to clear once the recipient cashes the check.

But cashier's checks clear instantly or by the next day, even when they involve large sums of money.

Because they’re reliable and fast, cashier’s checks are most commonly used for transferring large amounts of money for big purchases.

Cashier’s checks are more trustworthy than personal checks since some people knowingly write checks that won't clear. But a recipient will always know that the amount on a cashier's check is valid.

Sponsored

This 2 Minute Move Could Knock $500/Year off Your Car Insurance in 2024

Saving money on car insurance with BestMoney is a simple way to reduce your expenses. You’ll often get the same, or even better, insurance for less than what you’re paying right now.

There’s no reason not to at least try this free service. Check out BestMoney today, and take a turn in the right direction.

Esther Trattner Freelance Contributor

Esther was formerly a freelance contributor to Moneywise.

Explore the latest articles

10 best banks of 2023

The best banks offer competitive yields on deposits, low fees, excellent customer service and more.

Casey Bond Freelance Contributor

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.