Yes, cashier’s checks do expire
More Info: Many cashier’s checks will carry the expiration date directly on the note signifying how long you have to present the check for payment. Common expiration dates are 90 days or 180 days. If the check is not presented for payment, an institution may wait for up to six years after which time they will report the check as unclaimed property and you may have to pursue the funds in this manner.
According to the Cornell School of Law, the statute of limitations to enforce a party to pay a cashier’s check after demand for payment has commenced is three years.
A CBS Cashier’s Check
The currency of a cashier’s check really took firm hold in the U.S. pop culture firmament via the 1955-60 CBS anthology drama The Millionaire. A faux millionaire named John Beresford Tipton Jr. would each week, from off-camera, hand some unsuspecting person a cashier’s check for $1,000,000. This represented much more money back in the ’50s than it does today.
In fact, in today’s terms, the original amount of the featured cashier’s check in each week’s episode is worth many more 21st-century dollars. For example, the check from the first 1955-56 season would be worth more than $8,000,000 today while a cashier’s check from the final 1959-60 season would amount to upwards of $7,000,000.
Cashier’s Check Fraud
In the Internet age, the use of fraudulent cashier’s checks has expanded greatly. One popular scam involves convincing a seller to accept a check for an amount larger than the bill of sale and then requesting the difference be paid back to them in cash.
There are some very simple ways to verify the authenticity of a cashier’s check, including calling the issuing bank and confirming, by check number and issuer name-signature, that the proper funds were passed on from a bank account to check form. Part of the challenge of cashier’s checks is that they theoretically have no limit. If someone has enough money in their account to generate a cashier’s check in the corresponding, huge amount, it can normally be done.
IMDB – The Millionaire Trivia, Retrieved February 14, 2011 from http://www.imdb.com/title/tt0047758/trivia
Snopes.com – Cashier’s Check Fraud, Retrieved February 14, 2011 from http://www.snopes.com/crime/fraud/cashier.asp
“Uniform Commercial Code – Article 3.” LII | Legal Information Institute at Cornell Law School. N.p., n.d. Web. 18 Feb. 2011. http://www.law.cornell.edu/ucc/3/article3.htm.
“Department of State Lands News and Events: Old Cashier’s Checks and Money Orders Require Special Handling.” Oregon.gov Home Page. N.p., n.d. Web. 18 Feb. 2011. http://www.oregon.gov/DSL/news/pr0203_unclaimed.shtml.