How Much Does A Cashier’s Check Cost?

A cashier’s check, also known as a bank check or official check, is a check issued by a bank and made payable to a specific person. Cashier’s checks are guaranteed funds because the money comes directly from the issuing bank, not the account holder. This makes them a very secure form of payment. But this extra security comes at a small cost – most banks charge a fee to issue cashier’s checks.

So, what are the typical fees and costs associated with getting a cashier’s check? What factors affect the pricing? Are there ways to get cashier’s checks with lower fees? This comprehensive guide answers all those questions and more, with real-world examples, expert tips, and cost comparisons across banks.

How Much Does A Cashier’s Check Cost?

Most banks charge a cashier’s check fee, typically costing from $5 on the low end up to $15 at major national banks. These fees go towards covering the costs incurred by the bank to issue an official cashier’s check.

Here are the main reasons banks charge for cashier’s checks:

• Staff time – Bank tellers have to manually verify funds, fill out the check, log details, and handle regulatory record-keeping and reporting. This labor cost gets passed on via fees.
• Materials – Creating an official bank check requires checks with special security features, documentation, envelopes, and other supplies.
• Guaranteed funds – Unlike personal checks which just draw from an existing account, the bank guarantees a cashier’s check with their own money. This provides certainty of payment but increases the bank’s risk.
• Overhead costs – Brick-and-mortar bank branches have high operating costs including real estate, utilities, equipment, and security. Cashier’s check fees help offset these expenses.
• Regulatory compliance – Banks must follow strict regulations like Know Your Customer (KYC) rules. This adds compliance costs that factor into service fees.
• Fraud prevention – Cashier’s checks have extensive security features and verification procedures to prevent fraud. These impose costs as well.

In essence, the guaranteed nature of cashier’s checks means more diligence and assurance from the bank. And companies rarely provide services for free – those costs get passed on through fees.

According to MyBankTracker, the average cost of a cashier’s check at major US banks is $9.10, with fees ranging from $3 at Citizens Bank to $10.75 at Fifth Third Bank. Most banks charge around $8 to $10, such as Chase, Bank of America, and Wells Fargo. Some banks waive these fees for customers with premium accounts.

On Bankrate, it is noted that fees for cashier’s checks typically range from $5 to $15, depending on the bank. For example, Wells Fargo charges $10, while online-only banks like Ally and Quontic do not charge any fees for cashier’s checks. Credit unions often charge less than traditional banks or may waive fees entirely for members.

The GoBankingRates article highlights that Bank of America charges $15 for cashier’s checks but waives this fee for Preferred Rewards members. Chase charges $10, while Capital One charges $20 for online requests or $10 in-branch. Navy Federal Credit Union offers two free cashier’s checks per day, with additional checks costing $5 each.

Additionally, Investopedia reports that most banks charge between $8 and $15 for cashier’s checks, though some waive fees for account holders with premium or high-tier accounts. Delivery fees may apply if the check is ordered online.

Factors Influencing the Cost

While all banks charge for cashier’s checks, the specific fees can range widely. What makes some banks charge $5 while others are $15? Here are the main factors that affect cashier’s check pricing:

Bank Type and Location

• Big national banks located in major urban areas tend to charge the highest cashier’s check fees, typically $10 to $15 per check. This is due to their larger overhead costs and account hierarchies.
• Regional and community banks often have lower fees, averaging $7 to $12 per check. Their smaller scale leads to lower operating expenses that don’t get passed on as higher fees.
• Credit unions and online banks usually have the lowest cashier’s check costs, from $5 to $10. Credit unions are member-owned nonprofits aimed at service over profits. Meanwhile, online banks have minimal physical footprints resulting in lower overhead.

So, if low cashier’s check fees are important to you, take a look at smaller regional, credit unions, or online banks in your area.

Account Type and Status

Your own account type and status can impact cashier’s check costs:

• Premium checking accounts at major banks often provide free or discounted cashier’s checks as an account perk. Make sure to look for those benefits when selecting an account.
• Non-customers almost always pay more, with added $5 to $15 surcharges on top of the base fee. Sticking within your existing bank avoids these extra costs.
• High net worth clients may qualify for fee waivers or discounts based on their overall account balances and activity.
• Students can sometimes receive discounted fees when using campus-affiliated credit unions or student checking accounts.

Purchase Details

Certain cashier’s check purchase details can also raise or lower the fees:

• Check amounts – Some banks charge a percentage (like 1%) on checks over $5000 rather than a flat fee. So larger checks may cost more.
• Rush processing – Getting a cashier’s check same-day instead of standard 1–2-day turnaround often incurs $10 to $25 surcharges.
• Delivery fees – Having the check mailed overnight or shipped to you adds $15 to $35 on top of the base cost. Pickup is cheapest.
• Stop payments – If a cashier’s check gets lost or stolen, stop payments typically cost an extra $10 to $20.

Watch for variables like expedited delivery, large amounts, and other special handling that can drastically increase the total fees.

You might also like our articles about the cost of a money order, sending money through Western Union, or cashing a check at HEB.

Cashier’s Check Fees at Major Banks

To give you a better idea of real-world cashier’s check costs, here is a comparison table of the major national banks:

Bank	Fee for Customers	Fee for Non-Customers
Bank of America	$10	$15
Chase	$8	$12
Citibank	$10	$15
PNC	$10	$15
TD Bank	$8	$12
Truist Bank	$10	$15
U.S. Bank	$7.50	$12.50
Wells Fargo	$8	$12

As you can see, fees typically range from $7.50 to $15 for account holders. Non-customers pay $10 to $15 on top of that.

Regional and local banks may be $1 to $3 cheaper. Meanwhile credit unions and online banks can be $5 to $10 for account holders.

So, while exact cashier’s check costs vary between institutions, $8 to $15 is standard among national brick-and-mortar banks.

Cashier’s Checks From Online Banks

Online and digital banks have exploded in popularity due to higher interest rates and lower fees. But how do they handle “offline” services like cashier’s checks?

There are a few approaches that online banks take:

• Some like Ally Bank provide cashier’s checks for $0 cost. The catch is you must wait 1-2 weeks for mail delivery.
• Others like Chime charge reduced fees such as $5 per check, but also require mailing delivery after online ordering.
• A few online banks don’t yet offer cashier’s checks due to limited physical infrastructure. But they may provide coupons or reimbursements to purchase checks from a partner bank.
• Peer-to-peer payment apps including PayPal, Venmo and CashApp now offer various cashier’s check and money order services as well, typically for $1 to $5.

So digital banks can mean cheaper access to cashier’s checks. But watch for delivery wait times and confirm fees upfront.

Additional Fees

The base cost for a routine cashier’s check is just the starting point. Here are some of the most common extra fees and charges to watch out for:

• Overnight shipping – $15 to $35 for next-day courier delivery when checks are ordered online or by phone.
• Foreign bank checks – Issuing a cashier’s check via an international bank branch often incurs $20 to $50 in additional fees.
• Stop payments – Stopping payment on a lost or stolen cashier’s check adds $10 to $20 to the overall cost. Replacing lost checks also incurs fees.
• Refunds or cancellations – Some banks charge $5 to $15 for cancelling or refunding an unused cashier’s check.
• Outgoing wire transfers – Wiring large dollar amounts from your account on the same day can add $15 to $40 per domestic transfer.
• Account research – If extending a cashier’s check’s validity, expect to pay $10 to $25 in research and administration fees.

These “hidden fees” can quickly make a $10 cashier’s check cost $25 or more. Be sure to ask about additional charges ahead of time so there are no surprises.

Alternatives to Cashier’s Checks

While sometimes necessary for large transactions, cashier’s checks aren’t your only option for payments and transfers. Here are some other common choices:

• Personal checks – The most convenient option, but offers no guaranteed funds. Higher fraud potential. Typically free.
• Debit card payments – Also draws instantly from your funds but has daily limits, generally around $5000. Minimal fees if any.
• Money orders – Offer similar guarantees as cashier’s check up to a few thousand dollars. Fees are often under $5 at post offices.
• Wire transfers – The fastest electronic option to move large sums ($10,000+) between accounts. Bank fees average $10 to $40 per domestic transfer.
• ACH transfers – Free to low-cost way to transfer money electronically, but can take days for transactions to clear.
• PayPal, Zelle, Venmo – Easy peer-to-peer payment apps but with less security features and fraud protection compared to cashier’s checks.

Depending on your specific payment requirements, one of these other tools might better fit the bill at a lower cost.

When Do You Need a Cashier’s Check?

Though the costs are higher, there are times when only a cashier’s check will do:

• Real estate transactions – Nearly universally required for home down payments, closings, and realtor fees during property transfers. Provides certainty of large dollar funds.
• Car purchases – Many dealerships require a cashier’s check, especially on newer vehicles. Prevents fraudulent personal checks from being used.
• Large transactions – Any transaction over several thousand dollars where guaranteed funds and immediate clearance is essential.
• Business deals – Companies may need bank-backed checks for major supplier payments, equipment purchases, independent contractor payouts, and refunds.
• Loan payoffs – Banks and lenders often require cashier’s checks for mortgage, auto, and debt payoffs where the full payoff amount must be guaranteed.
• Court settlements & judgements – Legal industry standard for resolving lawsuits, civil judgements, family court matters, and other formal agreements.

Essentially any situation where certainty of funds is critical – cashier’s checks provide that peace of mind. Just be aware they’re overkill for everyday transactions under $1000.

How to Get a Cashier’s Check

Getting your own cashier’s check is a pretty straightforward process:

1. Visit your bank branch and talk to a teller.
2. Indicate who you want to pay and the check amount.
3. Provide payment for the fee (cash or debit from your account).
4. The teller verifies your funds and prints the official bank check.

Some banks allow you to order a cashier’s check online for mail delivery. But generally you need to visit a branch for immediate check pickup.

If you lose the check, the reissue process can take 90 days or more – so keep it secure!

Tips to Avoid or Minimize Fees

While some situations require cashier’s checks no matter what, you’re not necessarily stuck paying high fees. Here are some smart tips to reduce or waive fees:

• Ask about account perks – Many premium checking accounts include free cashier’s checks. Downgrade fees for students or seniors are possibilities too.
• Establish status – Long-term customers may qualify for fee reductions or loyalty perks. Consolidating accounts can help as well.
• Use credit unions – Their nonprofit status means lower overhead and better rates passed on to members.
• Go paperless – Online banks allow you to skip teller fees and branch markups, though delivery times are slower.
• Timing – Ask when the lowest fees apply – some banks offer discounts certain days of the week or times.
• Shop around – Don’t assume fees are equal everywhere. Compare options to find the best deals.
• Buy in bulk – Pre-purchasing several cashier’s checks at once can sometimes lower the per-check costs.

Cashier’s Checks vs Other Payment Methods

Payment Type	Cost	Security	Speed	Convenience	Limits
Cashier’s Check	$8-$15	Excellent	Slow	Low	None
Money Order	<$5	Good	Slow	Medium	$1000 max
Bank Wire	$10-$30	Excellent	Fast	Low	None
Personal Check	Free	Low	Slow	High	None
Debit Card	None	Medium	Fast	High	$2,500-$5,000/day
ACH Transfer	<$5	Medium	Slow	Medium	None

Each payment method carries advantages and drawbacks that may make it more (or less) appropriate depending on your specific needs. In general, cashier’s checks bring top-level security but lag in convenience and speed compared to digital payments.

Final Words

Cashier’s checks cost between $5 and $15 on average at most major banks. Additional fees can sometimes apply. Banks charge for the staff time, materials, and guaranteed funds involved. Prices vary by bank. Your account status, location, check delivery, and more all impact the final cost.

Compare bank fees carefully to find the best deal on cashier’s checks for your situation. Alternatives like money orders and wire transfers may work depending on your needs.

Answers to Common Questions

How secure is a cashier’s check?

Cashier’s checks offer very high security because the funds are guaranteed by the issuing bank. They cannot bounce due to insufficient funds like a personal check can. This makes them ideal for major purchases or transactions where certainty of payment is critical.

Can a cashier’s check be traced?

Yes, cashier’s checks can easily be traced and tracked. The bank keeps detailed records on the check number sequence, date issued, amount, and recipient. This allows them to verify if a check is legitimate and look up details if necessary.

What are the disadvantages of a cashier’s check?

Compared to personal checks or electronic payments, cashier’s checks have higher fees, slower processing, and lower convenience. You need to visit a bank branch for immediate issuance. They also cannot be reversed once cashed, unlike checks or debit/credit card purchases. Lost or stolen cashier’s checks can be a big hassle to replace as well.