There are many ways you can verify a Bank of America cashier’s check. The simplest way is to visit the bank and ask for the verification of the cashier’s check. Moreover, now you can also verify the cashier’s check online. Visit the official website of the issuing bank and verify the check on the website. You can also call the issuing bank and ask for verification.
- A cashier check is issued by a bank and it is one of the safest ways to transfer money or make a payment
- Some common cashier’s check scams are prize or lottery awards, mystery shopper scams, property rental scams, etc.
- People mostly uses cashier’s check in situations where they can’t use their debit or credit card
- Depending on the bank, you might have to pay a one time fees for the cashier check and the fees could range from $5 to $15
What is a Cashier’s Check?
A cashier’s check is a type of official check which is signed by a cashier and issued by a bank. This type of check is different from a personal check, credit check, certified check, etc. Using a cashier’s check is one of the safest ways to make large payments because this type of check is drawn from the bank’s own funds. Usually, there is no risk that a cashier’s check will bounce or it will be invalid. However, many fraudsters now create phony cashier’s checks and use them for check scams. Therefore, it is very important to verify a cashier’s check to avoid being a victim of check fraud.
If you are wondering how you can verify a bank of America cashier’s check then keep reading this article.
How To Verify Bank Of America Cashier’s Check
To avoid a common cashier’s check scam, you must take precautions to ensure that a cashier’s check is legitimate. One of the most common cashier’s check scams is paying more money than the amount of the check. Therefore, if someone, offers you a cashier’s check for more than the purchase price then you must not accept the cashier’s check. In addition to the overpayment scam, other common cashier’s check scams are –
1. Prize or lottery awards.
2. Prepayment for mystery shopping: check deposits, wire transfers, etc.
Most cashier’s check has distinct feature specific to the bank that will help you easily verify a cashier’s check. If the bank states that there will be a watermark or microprint then look for these watermarks or micro prints. If these signs are missing then the check might not be valid.
If you think that the cashier’s check is not valid then you should contact the bank that issued a cashier’s check because they can verify the check. Large banks like Bank of America, PenFed, etc. have a set process for cashier’s check verification. You don’t have to pay any additional fees for the verification process. On the other hand, if you can’t verify a cashier’s check then confirm the phone number of the bank as listed on the check. Finally, call the bank to verify the check. Usually, banks ask for these pieces of information to verify a cashier’s check:
1. Check the number
2. Name of the person who gave you the check
3. Payment amount
Bank Of America Routing Number
You can use the routing number of the bank to verify a cashier’s check. Below are the routing numbers of Bank of America:
|Bank Of America Routing Number|
When Do You Need A Cashier’s Check?
You might need a cashier’s check for a large purchase like a car or house sale or purchases where you won’t be able to use your debit or credit card. You can use the cashier’s check to pay bills, make purchases or pay other debts owed. Moreover, it is a great option to use a cashier’s check because cashier’s checks can offer more security than personal checks. Here are some common situations when you might need to issue a cashier’s check –
1. Buying or selling a vehicle
2. Buying or selling a home
3. Paying a security deposit for an apartment
4. Paying college tuition and fees
5. Repaying a large personal debt to a friend or family member
6. Receiving a lump sum amount from a lawsuit settlement
7. Receiving a lump sum withdrawal from an investment or retirement account, etc.
Advantages And Disadvantages Of Cashier’s Check
|Advantages Of Cashier’s Check||Disadvantages Of Cashier’s Check|
|Payment is secured because funds are drawn against the bank’s account||Cashier’s checks are not foolproof and they can still be targets for fraud|
|You don’t have to worry about insufficient funds||You might need to pay fees for cashier’s checks and the fees can vary from around $5 to $15|
|No chance of overdraft and returned payment fees||You have to visit the bank branch to get a cashier’s check|
|Funds availability for cashier’s checks is faster compared to other types of checks|
|Cashier’s checks have increased security like watermarks, etc.|
How Can I Get A Cashier’s Check?
Most banks and credit unions offer cashier’s checks to their customers. You can easily get a cashier’s check from a bank. Here are the details –
1. First, you have to gather some information before requesting the check:
a. Payee’s name
b. Check amount
c. Valid identification
d. Sufficient funds
2. Next, you have to visit a nearby branch and request the check from a teller, or
3. You can call the bank or order online for a cashier’s check
4. Now pay the full check amount and any applicable fee to process the check
5. Finally, receive the receipt and keep it to track the check
Alternatives to Cashier’s Checks
If you are not able to get a cashier’s check then there are other forms of payment options available that you can consider. Some of the best cashier’s check alternatives are –
1. Money orders
2. Certified checks
3. Wire transfers
4. Personal checks
5. ACH payments
6. Mobile payment apps
7. Credit card payments
8. Debit card payments
Fees For A Cashier’s Check
|Bank||Cashier’s Check Fee||Fee Waived|
|Bank of America||$15||Yes, only for Preferred Rewards members|
|BBVA||$10||Unlimited cashier’s check for checking account with a fee of $2 per statement cycle|
|Capital One||$20 for online cashier’s checks$10 for cashier’s checks at a branch||No|
|Chase||$8||Yes, with Chase Secure Checking, Chase Premier Plus Checking, Chase Sapphire Checking, and Chase Private Client Checking|
|Navy Federal Credit Union||First 2 per day free, then $5 each||No|
|PNC Bank||$10||Yes, with Foundation Checking, Performance Checking, Performance Select Checking|
|Wells Fargo||$10||Available when Wells Fargo Portfolio Checking account is linked with other qualifying accounts|
FAQs About How Can You Verify Bank Of America Cashier’s Check?
How Can I Avoid Cashier’s Check Fraud?
If you want to avoid cashier’s check fraud then you can follow the below tips –
1. Always stick with trusted payers and don’t accept cashier’s check payments from businesses or individuals you don’t know.
2. You must verify cashier’s checks before accepting a cashier’s check as payment.
3. Look for common red flags for cashier’s checks like smeared writing, missing details, etc.
4. Don’t make the payments or purchases against the cashier’s check amount before the check is cleared by the bank.
What Are Some Common Types Of Cashier’s Check Scams?
Some common types of cashier’s check scams are –
1. Lottery scams
2. Mystery shopping scams
3. Work-at-home scams
4. Property rental scams
What If I Lose The Cashier’s Check?
You must know that canceling a cashier’s check is not possible. So, if you lose the cashier’s check then the bank might ask you to get an indemnity bond before issuing another one. However, it is not easy to get an indemnity bond.
Can I Get A Cashier’s Check At The Financial Center Of Bank Of America?
If you are a Bank of America customer with a checking or savings account then you will be able to get a cashier’s check. The Bank of America will charge a $15 fee for a cashier’s check.
What To Do If You’re A Victim Of Cashier’s Check Fraud?
Cashier’s check frugality is a very common event and if you are a victim of cashier’s check fraud then you should report it immediately to the bank and other authorities. You should report to –
1. The Federal Trade Commission
2. Your state’s attorney general
On the other hand, if the fraud cashier’s check was sent by mail, then you should report it to the United States Postal Inspection Service.
Last Updated on November 10, 2022 by Magalie D.
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.