For example, you might get a fake cashier’s check with a letter that you’ve won some lottery, obtained a mystery shopper job or paid too much for something.

Cashier’s check vs. money order A money order is also a guaranteed form of payment. While you can only get a cashier’s check from your banking provider, you can get money orders from third ...

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.

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

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.

Step 1. Verify the Check Is Authentic Before accepting the cashier’s check, make certain it isn’t counterfeit. You can call the issuing bank to verify if the funds are available.

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 ...

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