A cashier’s check or money order is guaranteed and can be redeemed only by the payee. With a cashier’s check, the issuing bank fills out the “pay to” line, which helps prevent the check from being ...

Key Points Cashier's checks are secure payments, backed by banks, making them nearly bounce-proof. They are ideal for large transactions, with limits often between $250,000 and $500,000.

Some transactions will require a cashier’s check for payment. You might need a cashier’s check to make a security deposit on an apartment, for example, or to cover the down payment on a new car.

A cashier’s check serves the same purpose as a certified check and is a good alternative if you cannot get a certified check. Some banks offer free cashier’s checks, and others charge a small ...

A cashier’s check involves a physical check that must be mailed or hand-delivered, so this option is better for face-to-face transactions. For example, most real estate closings accept cashier ...

If you're wondering how to verify a cashier's check, follow these steps. Learn about precautions to take to ensure that a cashier’s check is legitimate.

Make sure the cashier’s check was issued by a legitimate bank. While some counterfeit checks will include a legitimate bank’s name, a fake name is a sure giveaway. You can go to FDIC BankFind ...

For example, Bank of America will waive its $15 cashier’s check fee if you’re enrolled in its Preferred Rewards program.

Some banks don’t charge anything to customers for cashier’s checks, though. Ally, for example, doesn’t impose a fee for the service.