When you purchase something significant like a car or a house, the seller might request a cashier’s check instead of personal checks, money order or cash. One place to get a cashier’s check is U.S. Bank — one of the largest commercial banks in the nation.
Find out how to get a cashier’s check from U.S. Bank, how much it costs and how to verify that it is genuine. Compare the with other banks to make sure you’re getting the best deal, and don’t forget to make sure that a cashier’s check is your best payment option.
How to Get a Cashier’s Check From U.S. Bank
If you need a cashier’s check, visit a local branch of U.S. Bank. Then, follow these steps:
- Request a cashier’s check from the teller.
- Present the teller with a form of ID like a driver’s license or passport to verify your identity.
- Provide your bank account number to the teller so he can verify you have the funds to cover the amount of the cashier’s check. Once he verifies the funds, the bank will transfer your money to its holdings until the check is presented for payment, which will ensure the payee receives the funds.
- Let the teller know exactly how much the amount of the cashier’s check should be and the name of the payee.
How Much Does a U.S. Bank Cashier’s Check Cost?
The U.S. Bank service fee for a cashier’s check is $7, which is close to the $6 average the top 50 banks and credit unions charge. There is no other cashier’s check fee associated with U.S. Bank. Review this comparison of cashier’s check service fees among five of U.S. Bank’s industry peers:
|Cost of a U.S. Bank Cashier’s Check|
|First Republic Bank||$10|
|Comerica||First 3 per year free, then $10 per|
Cashier’s Checks vs. Other Payment Options
Often, an individual selling an expensive item will prefer to be paid with a cashier’s check because it is guaranteed by the bank. For example, it is common practice to use cashier’s checks for brokerage or real estate transactions.
Although money orders are a relatively safe form of payment because they are also prepaid — and you can buy money orders in a number of places, including some retail stores — they typically are not available in amounts that exceed $1,000.
In addition, money order funds aren’t guaranteed. Cash might seem like the best way to pay a seller, but there’s always a chance the bills might be counterfeit.
See: How to Cash a Check
Beware of Cashier’s Check Scams
Some sellers might be hesitant to accept even a cashier’s check because of the risk of a cashier’s check scam. As long as he exercises caution, however, and takes steps to verify the check’s authenticity, the risk is reduced. Here’s how to verify a cashier’s check:
- Contact the issuing bank to verify the check. Don’t call any numbers that appear on the check, however, because they could be fake.
- Cash the check at the issuing bank to avoid fraud, but be aware that there might be a fee assessed if you are not an account holder there.
When you are considering using a cashier’s check for payment, it’s helpful to know that the service fee for a U.S. Bank cashier’s check is close to the national average. Because a cashier’s check is a form of payment that’s generally deemed safe for large purchases, you will likely find yourself purchasing one at some time — knowing how one works and how much it will cost will streamline the process.