But when the bank discovers that the check is a forgery, often a few weeks after the deposit, they take the money back. This is because the bank has guaranteed that the funds will be available. But counterfeiting scams do still occur, often where the victim receives a cashier’s check in the mail from an unknown person, who then asks the victim to send some of the money back.Ī fraudulent cashier’s check will likely clear immediately when first deposited. Security features printed onto the check prevent any possible forgery. Risks of Using Cashier’s ChecksĬashier’s checks offer a safe method of payment. This does save you a trip to the bank, but it will still take longer since you have to rely on the mail. That makes it your responsibility to get it to the recipient. When you request a cashier’s check online, the bank will send a physical check to your mailing address. This varies from place to place, but most banks will only offer this option to their customers. The last option is to order a cashier’s check online. One difference, though, is that you can usually get a cashier’s check from almost any credit union, whether or not you’re a member. The process of getting a cashier’s check at a credit union is similar. So if you don’t have a bank account, you should call before going to any bank to make sure they will issue you a cashier’s check. Keep in mind that some banks sell cashier’s checks only to their customers. If you don’t have an account with the bank, you may be able to pay with cash. Once the teller prints and signs the check, it’s ready for use. If you have an account with the institution, the amount you request comes out of your personal account and goes to the bank’s own account. This info is printed on the check – you can’t add anything in handwriting. You’ll need identification and other relevant information – the amount of the check, the correct spelling of the payee’s name and any memo notes. You can purchase a check from a bank teller or through your bank’s online system, for banks that offer that service. There are alternatives that you can explore to see if there are better options for your situation. Many situations might be the safest with a cashier’s check but it doesn’t mean that you have to use one.
0 Comments
Leave a Reply. |