If you need a cashier’s check, you’ll have to get it from a bank or other approved financial institution. If you bank with Wells Fargo, you can get a cashier’s check for a fee of $10.
Depending on how you chose to obtain the check, you might incur additional fees as well. Here’s a look at how the cashier’s check process works at Wells Fargo, along with an explanation of the various banking fees you might get charged.
What Is a Cashier’s Check?
A cashier’s check might seem like an ordinary personal check, which is a way to pay a named person — the payee — a designated sum of money. But if you write a personal check and don’t have sufficient funds in your account, the check will be returned and the payee won’t receive the money due.
Unlike a personal check, with a cashier’s check, the promise to pay the full amount to the payee is made by the issuing bank, not the individual who purchased the check. As such, cashier’s checks are considered more secure than personal checks.
Related: 5 Best Places to Get a Money Order
How Do Cashier’s Checks Work?
You can’t just walk into a bank like Wells Fargo and request a cashier’s check based solely on your good name. An issuing bank will guarantee payment on a cashier’s check only if it receives sufficient funds upfront to cover the amount of the check. For example, if you want to write a $1,000 cashier’s check, you’ll have to deposit $1,000 in cash.
Because cashier’s checks are backed directly by the issuing bank, they are used typically in financial transactions that require a high degree of security, such as real estate purchase and sale agreements. Unlike money orders, which have a $1,000 limit, cashier’s checks can be issued for any amount, as long as the bank receives the required funds for payment.
Wells Fargo Cashier’s Check
According to its fee schedule, a Wells Fargo cashier’s check costs $10. You can also order a check online, which saves you the inconvenience of traveling to the bank. Using the online service is straightforward: Log in to your account and transfer funds to cover the amount of the cashier’s check.
Here are some important points to note about ordering online:
- You’ll be assessed a delivery fee of $8.
- Service is offered only to those customers who have a Wells Fargo account with sufficient funds available to cover the amount of the cashier’s check.
- Any cashier’s checks ordered cannot exceed $2,000 in value.
If you have any problems with an online transaction, you can call Wells Fargo customer service 24 hours a day, 7 days a week at 1-800-956-4442.
Also See: The Pros and Cons of Wells Fargo SurePay
Wells Fargo Cashier’s Check Fee vs. Other Banks’
Wells Fargo fees, including the $10 fee for a Wells Fargo cashier’s check, are fairly standard for the industry.
Here is a brief list of fees at other banks:
- Bank of America, Citibank and Capital One each charge $10.
- Some banks offer slight discounts, including Chase Bank, which levies an $8 fee.
- The fee at U.S. Bank is $7.
If you have certain types of fee-paying accounts, some institutions, including Bank of America, will waive the cashier’s check fee. Wells Fargo also offers this fee-waiver provision for certain fee-based accounts, such as its Portfolio by Wells Fargo account.