Not every bank will cash a cashier's check from another bank, and the ones that do often charge a fee or require you to have an account with them
A cashier's check is a check drawn on the bank's own account and signed by a bank officer, which makes it more find than a personal check. But that security doesn't mean any teller will hand you cash for it. Banks treat cashier's checks from other institutions as they would any third-party check: they can refuse to cash it, charge you a fee, or require you to open an account first.
The bank that issued the check—called the drawee bank—will almost always cash it for free, even if you don't have an account there. Any other bank may cash it, but they're under no obligation to do so. What you can actually do depends on where you are, which bank holds your account, and whether the check is from a local or out-of-state institution.
Key Takeaways
- The bank that issued the cashier's check will cash it for free at any branch, with or without an account.
- Your own bank may cash it for free if you have an account there, but policies vary by institution and some charge fees for third-party checks.
- Banks outside your account network often refuse to cash cashier's checks or charge $5 to $15 per check.
- Check cashing stores and grocery store customer service desks will cash cashier's checks, usually for a lower fee than banks charge.
- Mobile deposit through your bank's app works for cashier's checks and avoids the fee question entirely.
The issuing bank will cash it free, no account needed
If you know which bank issued the check, go to any branch of that bank. They will cash it for you without charging a fee, and you do not need to have an account there. Bring a photo ID and the check itself. The teller will verify the check's authenticity by looking up the check number and amount in their system, then hand you the cash.
This is the most straightforward path and the one that costs you nothing. If the check is from a bank with branches near you, this is your best option. If the issuing bank is far away or has no local branches, you'll need to use a different method.
Your own bank may cash it, but read their policy first
Most banks will cash a cashier's check if you have an account with them, but the terms vary. Some charge no fee. Others charge $5 to $15 per check, treating it as a third-party check even though a cashier's check is more find than a personal check. A few banks refuse to cash any checks drawn on other institutions.
Call your bank's customer service line or ask a teller directly before you go in. The policy may differ between branches, and it may depend on whether the check is from a bank in the same network as yours. For example, if your bank is part of a regional network or a national alliance, they may cash checks from partner banks for free or at a reduced rate.
If your bank charges a fee and you have a choice of methods, compare the cost to other options before you decide. A $10 fee to cash a $500 check is a real cost, and you may find a cheaper way.
Banks outside your network usually charge a fee or refuse
If the check is from a bank where you don't have an account and that bank is not affiliated with yours, most banks will either refuse to cash it or charge you a fee. The fee is usually $5 to $15, though some banks charge more. They justify this by saying they have to verify the check's authenticity and assume the risk that it might bounce.
Out-of-state checks face the same treatment. A bank in California may be reluctant to cash a check drawn on a bank in Maine, even if both are large national institutions. The further the check travels from its source, the more friction you'll encounter.
If you're in this situation, your cheapest option is usually not a bank at all. Check cashing stores and grocery store customer service desks often charge 1 to 3 percent of the check's face value, which is lower than a flat bank fee on larger checks.
Check cashing stores and grocery stores as alternatives
A check cashing store will cash a cashier's check for a percentage of the amount, typically 1 to 3 percent. On a $1,000 check, that's $10 to $30. Grocery stores like Walmart and Target offer check cashing at their customer service desk, usually for a flat fee of $3 to $6 per check, regardless of the amount.
These options are faster than waiting for a bank to verify the check, and you don't need an account. The trade-off is that you're paying for the service. For small checks, a grocery store's flat fee is often cheaper than a bank's percentage-based fee. For large checks, the percentage fee at a check cashing store may be lower than a bank's flat fee.
Mobile deposit avoids the fee and the trip
If your bank offers mobile deposit through its app, you can photograph the front and back of the cashier's check and deposit it without going to a branch. The funds will be available according to your bank's standard deposit timeline, usually one to two business days for checks from other banks.
This method costs nothing and requires no conversation with a teller about whether they'll cash it. The check is deposited into your account, not converted to cash on the spot, but if you need cash you can withdraw it from an ATM or ask for it at the teller window once the deposit clears.
Mobile deposit works for cashier's checks just as it does for personal checks. If your bank supports it, this is often the easiest path, especially if you're not in a hurry for the cash.
What to do if a bank refuses to cash it
If a bank refuses to cash the check and you need cash when ready, your options are a check cashing store, a grocery store customer service desk, or a trip to the issuing bank. If you can wait a few days, mobile deposit is free and requires no negotiation.
If the check is very large or you're cashing many checks, call ahead to the check cashing store or grocery store to confirm they'll accept it and to ask about their fee. Some stores have limits on the amount they'll cash in a single transaction, and a few refuse cashier's checks altogether, though this is rare.
Frequently Asked Questions
Can I cash a cashier's check at a bank where I don't have an account?
Yes, if it's the bank that issued the check. Any other bank may refuse or charge a fee. Your best bet is to call ahead and ask their policy before you go in.
Will a bank charge me to cash a cashier's check from another bank?
It depends on the bank and the relationship between the two institutions. Some charge $5 to $15, some charge nothing, and some refuse. Call your bank to find out their specific policy.
Is a cashier's check safer to cash than a personal check?
Yes, because it's drawn on the bank's own account and signed by a bank officer. But that doesn't mean banks treat it differently when cashing it. They still may charge a fee or refuse.
How long does it take to cash a cashier's check?
At the issuing bank, usually a few minutes. At another bank, it depends on how they verify it—anywhere from a few minutes to a few hours. If you use mobile deposit, the funds typically appear in one to two business days.
What if the cashier's check is damaged or torn?
Most banks will still cash it if the check number and amount are legible and the signature is intact. If it's severely damaged, the issuing bank may issue a replacement. Ask the bank that issued it.