How To Get a Cashier’s Check Without Bank Account in 2022. Is it even possible to get a Cashier’s Check Without Bank Account? Well, continue reading this article till the end to find out more.
You probably have a check in hand that you need to cash that is maybe a credit card cash-back refund or a mail-in rebate check. Or perhaps it’s a paycheck and you do not know what to do next? Here you will surely find the best way out.
It is possible to get a cashier’s check without a checking account, but you may need another type of bank account like a traditional deposit account, loan, or investment account.
What Is A Cashier’s Check?
Cashier’s checks, otherwise known as teller’s checks, are checks that draw on the bank’s own funds and are signed by a cashier to make the payment. Cashier’s checks are treated as guaranteed funds because the bank, rather than the purchaser, is responsible for paying the amount. Once a bank generates a cashier’s check, the bank ensures to pay the amount printed on the check.
Are There Risks Of Using Cashier Checks?
Cashier’s checks offer a secure method of payment. Security features printed onto the check prevent any possible fraud. Nonetheless, there are cases of scams where the victim receives a cashier’s check in the mail from an unknown person, who then asks the victim to send some of the money back.
A fraudulent cashier’s check will likely clear immediately when first deposited. This is because the bank has confirmed that the funds will be available. But when the bank discovers that the check is fake, often a few weeks after the deposit, they take the money back. Unfortunately, the recipient is out of pocket for any money that has been spent.
Where to Cash a Check if You Have a Bank Account
Those who have a checking or savings account at a bank or credit union, don’t have to think twice about where to cash personal checks as they should be able to do so via the mobile app or ATM of their respective bank
With Crediful for example, Credit union members get the luxury of depositing at locations across the United States that are a part of the shared network. (ATM deposit capabilities may also be available).
But there’s a significant drawback you should be mindful of: some banks don’t release the funds to you right away. For larger amounts, the fund’s availability policy may restrict your access for one business day or longer. And if you are a new account holder, there’s a chance the funds won’t be available until the check clears the writer’s bank.
Can You Get A Cashier’s Check Without A Checking Account?
As we earlier said, t’s possible to get a cashier’s check without a checking account, but you may need another type of bank accounts like a traditional deposit account, loan, or investment account.
But there are two circumstances when you don’t need an active bank account to get a cashier’s check:
- If the account holder is deceased and the beneficiary is closing the account, the beneficiary will be issued a cashier’s check.
- If you are a former customer coming in with cash or a cash equivalent to rectify a charged off account, you can then purchase a cashier’s check for the purpose of settling the obligation.
Can You Get A Cashier’s Check Using A Savings Account?
Yes, you can get a cashier’s check using a savings account. Savings accounts, like our Huntington Relationship Savings Account and Huntington Relationship Money Market Account, are traditional deposit accounts and can be used to get a cashier’s check.
Keep in mind that savings accounts like these have usage limits, meaning The Federal Reserve limits certain withdrawals from these types of savings accounts to six per month‡. If you have already made those six withdrawals, your bank may not allow the transaction or may charge you a fee to do it.
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If you aren’t a Huntington customer, you can sign up for a savings account and take advantage of our banking services.
How Can I Get a Cashier’s Check Without Bank Account in 2022?
You can usually cash a cashier’s check at the issuing bank, regardless of the amount it’s drawn for once you endorse it, even if you don’t have an account there. Alternatively, it’s possible to cash a cashier’s check at a check-cashing store, but there might be a fee. Due to the prevalence of cashier’s check scams, some check-cashing companies will limit the value of a check that they’ll cash.
If the issuing bank is too far away and the check’s value is too high for a check-cashing store, a cashier’s check can be used as the initial deposit funds for opening an FDIC insured bank account, but make sure you’re getting the right account for your needs.
You don’t want fees or minimum balances to monopolize the funds from the cashier’s check. Huntington has eliminated these barriers with our no minimum to open, no minimum balance, no monthly maintenance fee, and Asterisk-Free Checking® account.
Where to Cash a Check Without a Bank Account
Open a New Bank Account
One of the best ways to cash a check if you do not have a bank account is to create one. It is a free way to cash the check. And depending on the amount, you can use the check to make the opening deposit. But, the hold time may be longer if you’re new to the bank or credit union.
And purpose you don’t qualify for a traditional checking account, there are some banks that offer second chance banking to consumers with ChexSystems or Early Warning Services (EWS) reports.
Bank of Origin – Get a Cashier’s Check Without Bank Account in 2022
In most cases, your check will always have on it mentioned the bank of origin. If the bank is in your vicinity, you just have to visit it to cash out your check. And depending on the bank, a nominal check-cashing fee may apply. Also, prepare to present a valid form of identification, like a driver’s license, passport, or state-issued ID card, so that the bank can confirm your identity. But you’ll have the funds right away if they’re available in the account.
Major Retailers and Grocery Stores
Big-box retailers, like Walmart and Kmart, offer check-cashing services to consumers. It’s unnecessary to make a purchase, but prepare to fork over a small percentage of the check amount and a flat fee to complete the transaction.
Walmart will cash payroll checks, government checks, tax refund checks, cashier’s checks, insurance settlement checks, and retirement disbursement checks. The amount of the check cannot exceed $5,000, and the maximum fee is $6.00.
Kmart will also cash payroll checks and two-party checks, but this service is only available to ShopYourWay members. Checks are limited to $5,000 ($500 if two-party personal), and the fee will not exceed $1.
Visit the store and speak with a customer service representative to learn more. If there isn’t a Walmart or Kmart in your local area, check with other major retailers or local grocers, as they may also offer check-cashing services.
You can also visit a payday lending or check cashing store to swap out your check for cash. These types of stores also sell money orders. Check cashing fees vary by location and brand but expect to pay a flat fee plus a percentage of your check. Generally, the funds will be issued at the time of your visit. But the representative will have to call the bank to confirm that you have an adequate balance to cover the check.