How Long Does it Take to Get a Cashier’s Check?

A cashier’s check is quick and easy to get from your local bank or credit union. A cashier’s check draws from the institute’s funds instead of one’s personal account. It looks similar to a personal check, but it is written in the bank’s name and the teller signs it. This makes the bank responsible for paying the check instead of the customer. In return, the customer pays the amount back to the bank upon receipt of the check.

Why Use a Cashier’s Check?

Cashier checks offer protection that one won’t have when paying with a personal check or cash. They are ideal for paying the down payment on a house, paying closing costs on a property, buying a vehicle, or purchasing land. SoFi is an online app that focuses on making the most of one’s money. According to the experts at SoFi, “in some financial transactions, a cashier’s check is required.” Learn how to get a cashier’s check with the following information. The entire process can be completed in one day.

What is Needed When Getting a Cashier’s Check

Cashier checks are easiest to get from one’s own bank, but it isn’t necessary to have an account through the establishment. While a cashier’s check is drawn from the bank’s funds, one needs enough money in their personal account or in cash to cover it. One must have the name of the payee with them. This is the person or business the check will be given to. Banks won’t issue a blank cashier’s check. Some form of ID may be requested too. Once these items are collected, one can do the following steps.

Visit the Local Bank

When getting a cashier’s check from a local bank or credit union, the transaction is done face to face. It is possible to get a cashier’s check from an online bank, but the process will take longer. The check is ordered through the website or over the phone, and then it is mailed to the customer. When done locally, it is a same-day service.

Pay Check Amount and Fees

If the customer has an account open in the bank, the funds can be withdrawn when the check is issued. One needs to be sure they have more in their account than just the amount of the cashier’s check, as there are often fees involved. Some banks offer reduced fees for existing clients. Once payment is made, the teller immediately issues the check.

Get a Receipt

The receipt is given along with the cashier’s check. It is the proof of purchase and can be used to track the check, in case it gets lost, or they need to know when it is cashed.

It can only take one quick trip to the local bank or credit union to get a cashier’s check. These checks provide one with protection that their personal check can’t offer when making large purchases.

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