A cashier’s cheque is also called as the teller’s check and makes use of the funds owned by the bank instead of your money. It is different from a check that is issued regularly as the payment is guaranteed by the bank and not by the person who writes it. Though you still pay the money, the bank pays from its funds upfront unlike when you present a personal check where money is taken from your account.

When a Cashier’s Check is Needed?
A cashier’s check can be got once cash is paid to the bank or is withdrawn from the account. The money is transferred to the bank’s account and will then be given to the recipient when the check is cashed. It is commonly used when making large purchases like a car, house or such transactions where you will not be able to use your credit or debit cards. It ensures there is no counterfeiting as there is added security of watermarks and bank employee signatures. The transaction is safe and risk-free for both parties as there are fewer chances of fraud.

How to Get a Cashier’s Check?
Prepare for getting a cashier’s check:

1. Know the exact name of the ‘payee’ or take the payee to the bank so that you have the necessary data available in hand.
2. If the check is to be paid to an organization, ensure that you know the details.
3. The next thing to know is the exact amount you need to pay. The amount will be printed from the bank teller when you get it or will be filled by the cashier, in any case, you should know the exact amount to put.
4. Make sure that you have the needed money in your account or have funds to fulfil the amount to write the check.

Deposit money: Make sure there is money in your account that can cover the amount of the cashier’s check. If you are getting from a bank in which you don’t have an account, then take cash in excess of the check amount. If you don’t have an account in the bank, you will be charged a percentage of the check amount as fee. So it is best to compare prices online before you head to the bank to purchase the check.

Bring your Id: You will need to show your identification to the bank or the credit union when you have to purchase a cashier’s check. Since the bank is a guarantor to the money, they will need to verify your identity and your account.

Get your check: You can go to the bank without an appointment and get the check on the spot. Take the necessary cash, and the relevant Id proofs and the teller will sign or stamp the check after debiting the amount from your account or by accepting cash if you don’t have an account. The fee for making the check will also be collected here.

Track: Get a receipt and take a copy of the cashed check and keep it safe till the check is cashed. Use tracking tools provided by banks to track the progress.

The cashier’s check is a more secure payment mode as there is the least likelihood of a check bounce due to lack of funds.