Getting A Cashier’s Check With No Bank Account
The bank guarantees cashier’s checks, making them less likely to bounce. As a result, because it is convenient and less risky, this type of payment is preferred for large transactions.
However, is it possible to get a cashier’s check with no bank account? Find out here.
Is It Possible to Get a Cashier’s Check With No Bank Account?
Not all banks will grant your request for a cashier’s check. Sometimes, it can be challenging to get one, especially if you don’t own a bank account.
However, some banks and credit unions issue them, usually for a small fee. Inquire with banks and credit unions near you if they will give you one.
How to Get a Cashier’s Check Without a Bank Account
The process of acquiring a cashier’s check without a bank account varies, depending on the financial institution. However, here are the general steps on how to get one:
Step 1: Fund the Check
You need to have the amount you are requesting a cashier’s check for in cash. Deposit the amount into the bank’s account. Provide the name(s) of the payee(s). Double-check the spelling.
Step 2: Get the Printed Check
The bank will print the cashier’s check with the name(s) of the payee(s) and the amount they will receive. The bank’s account number is what will show on the check.
Step 3: Give the Check to the Payee
Get the check and give it to the payee. When they deposit it, the funds will come straight from the bank’s account.
As you can see, the steps are straightforward. Moreover, a cashier’s check will clear faster than a traditional one. Remember to have the exact amount in cash, as banks that issue cashier’s checks will usually not give you one, if you cannot pay the amount, they will write on it.
Now there are some unique circumstances where you won’t need an active bank account to request a cashier’s check.
Other Requests for Cashier’s Checks
Here are other instances when you can get a cashier’s check without a bank account:
When the Account Holder is Deceased
When the beneficiary of an account is closing it because the account holder has died, the bank will not require the beneficiary to own an account in that particular bank. They will need to follow the procedures for receiving the funds.
Paying off a charged-off account
A charged-off account is where a lender or creditor (usually for a credit card) has written your credit account off as a loss when you’ve fallen behind on your payments. You are still obligated to pay those payments, though. When you’re finally ready to and have gone back to them to pay what you owe, you can request a cashier’s check to settle your obligation.
Check your request if it falls under any of these circumstances to help you make a smoother transaction.
Frequently Asked Questions
Can I still request a cashier’s check even if I have a bank account?
Yes. Your bank will withdraw the funds from your checking or savings account and deposit them into its account. It’s essential the funds in your account are sufficient. The bank will then proceed to write the cashier’s check.
What is the difference between a personal check and a cashier’s check?
One primary difference between the two is that the bank writes the cashier’s check and not the owner of the bank account. Second, there is a chance a personal check can bounce, but a cashier’s check definitely won’t because the money is from the bank’s own account.
How much do banks charge when issuing cashier’s checks?
Banks charge a fee of $10 or $15, or sometimes a percentage of the check’s amount.
What alternative do I have if the bank cannot issue me a cashier’s check?
When you’re having trouble getting a cashier’s check without a bank account, check if the recipient of the funds can receive a money order instead. The sender prepays a money order, and a bank account is not required.
The Bottom Line
A cashier’s check is an excellent alternative to bounced checks since the bank guarantees them. Just follow the procedures when getting one and communicate with your payee about what will transpire. This way, there will be no complications, and payments will be a walk in the park.