Where Can I Cash a Cashier’s Check?
You can cash a cashier’s check at the issuing bank. The financial institution that issued the cashier’s check is the only institution obligated to honor it. All other financial institutions can honor them at their discretion. Generally, your personal financial institution will cash a cashier’s check for you as long as you have an account with them and the ability to cover the check if the issuing institution returns it. This can take several weeks, so depositing the check and waiting until the funds clear before withdrawing is wise.
Purchasing and Accepting Cashier’s Checks
Due to the rise of fraudulent cashier’s checks, the US Department of Treasury advises only purchasing or accepting cashier’s checks from banks, savings and loans, and credit unions. Before accepting a cashier’s check, especially for goods that will leave after the cashier’s check has passed hands, call the issuing financial institution to verify the check’s validity. Do NOT call the phone number that is listed on the check. Printing a bogus phone number complete with a “professional bank associate” on the other end that will gladly verify the check is a classic element in the fraudulent check scam.
