Yes, you can deposit a cashier's check into your bank account
A cashier's check is a check drawn on the bank's own account and signed by a bank officer, which makes it more secure than a personal check. You can deposit it into your account the same way you would deposit any other check: in person at a branch, through mobile check deposit, or at an ATM if your bank offers that service. The bank will verify the check's authenticity and the funds will be added to your account.
The main difference between a cashier's check and a personal check is that the bank has already may provide the money exists and is set aside. This means the check is less likely to bounce, and the deposit process is usually faster. However, the bank may still place a hold on the funds while it clears the check, depending on the amount and your account history.
Key Takeaways
- Cashier's checks can be deposited through mobile check deposit, at a branch, or at an ATM, depending on what your bank offers.
- The bank will place a hold on the funds for a set number of days while the check clears, even though the money is may provide.
- Mobile deposit requires you to photograph both sides of the check and submit it through your bank's app.
- Depositing in person at a branch is the fastest way to access the funds, though a hold may still apply.
Depositing a cashier's check through mobile deposit
Most banks allow you to deposit a cashier's check using their mobile app. Open your bank's app, find the mobile deposit or check deposit option, and follow the prompts. You will need to photograph the front and back of the check in good lighting so the bank can read the routing number, account number, and amount. Make sure the entire check is visible in both photos and that the images are clear and not blurry.
After you submit the photos, the app will confirm receipt and give you a reference number. Write this number on the back of the check and keep the check until the bank confirms the deposit has posted to your account. Do not deposit the same check twice, and do not spend the money until the hold period is over. Most banks hold cashier's checks for one to five business days, though some hold them longer depending on the amount.
Depositing a cashier's check at a branch or ATM
If you go to a branch in person, you can hand the check to a teller and they will deposit it immediately. This is the fastest way to get the funds into your account, though the bank may still place a hold on the money. The teller will give you a receipt showing the deposit amount and date. Ask the teller how long the hold will last so you know when you can withdraw the money.
Some banks also allow cashier's check deposits at ATMs. Insert the check into the ATM slot and follow the on-screen instructions. The ATM will scan the check and confirm the amount. You will receive a receipt, and the funds will be added to your account. ATM deposits are subject to the same holds as mobile deposits, so the money may not be available for several business days.
How long the bank will hold the funds
A hold is a temporary delay before the bank makes the funds available for withdrawal. Even though a cashier's check is may provide by the bank, your bank will still place a hold on it to verify that the issuing bank actually issued the check and that it has not been altered or reported as lost or stolen. The hold period varies by bank and by the amount of the check.
Federal law allows banks to hold cashier's checks for up to seven business days for most deposits. However, many banks hold them for only one to five business days. If the check is for a large amount, the bank may hold it longer. Ask your bank about its specific hold policy before you deposit the check, or check your account online after you deposit it—the bank will usually show the hold date and when the funds will be available.
What to do if the cashier's check is damaged or unclear
If the check is torn, water-damaged, or the numbers are hard to read, the bank may reject it during mobile deposit. If this happens, take the check to a branch in person. A teller can examine it and may be able to deposit it manually, or they can contact the issuing bank to verify the check is real. Bring a photo ID and be prepared to explain how the check was damaged.
If the check is rejected and you cannot deposit it, contact the person or business that gave you the check and ask for a replacement. Explain that the original check was damaged or could not be read by the mobile deposit system. They should be able to issue a new cashier's check at no cost to you, since the original one was not your fault.
What happens if the cashier's check bounces
A cashier's check should not bounce because the bank has already verified that the funds exist and has set them aside. However, if the check is counterfeit, altered, or reported as lost or stolen, the bank may reverse the deposit after it has cleared. This is rare, but it can happen. If the bank reverses a cashier's check deposit, it will remove the funds from your account and notify you in writing.
If you have already spent the money and the check is reversed, you will owe the bank the amount of the check. The bank may charge you an overdraft fee if your account balance goes negative. If you believe the check was fraudulent or that the reversal was an error, contact your bank immediately and ask them to investigate. Keep all documentation related to the check and the deposit.
Depositing a cashier's check from out of state
You can deposit a cashier's check from another state's bank into your account. The process is the same: use mobile deposit, go to a branch, or use an ATM. The hold period may be longer for out-of-state checks because the bank has to verify the check with a bank in another state, which can take extra time. Federal law allows banks to hold out-of-state checks for up to ten business days, though many banks hold them for five to seven days.
If you are depositing a large out-of-state cashier's check, consider going to a branch in person so the teller can explain the hold period and answer any questions. Some banks offer faster clearing for large deposits if you have a premium account or a long history with the bank.
Frequently Asked Questions
Can I deposit a cashier's check if I do not have a mobile app?
Yes. You can deposit it at a branch by handing it to a teller, or at an ATM if your bank has check deposit machines. Going to a branch is usually the fastest option because the teller can answer questions about holds and availability.
What if the cashier's check has my name spelled wrong?
If the name on the check does not match your account exactly, the bank may reject the deposit. Take the check to a branch and explain the situation to a teller. They can contact the issuing bank to verify the check is for you, or you can ask the person who gave you the check to request a corrected one.
Can I deposit a cashier's check made out to someone else?
No. A cashier's check is payable to a specific person or business, and only that person or business can deposit it. If someone gives you a cashier's check made out to them, they must deposit it themselves or sign the back and add a note authorizing you to deposit it on their behalf—though many banks will not accept this.
How do I know if the hold is over and I can use the money?
Log into your bank account online or through the app and look at the deposit. The bank will show the available balance and the date the hold ends. You can also call the bank or visit a branch and ask a teller when the funds will be available. Do not withdraw money until the hold is lifted.
What if I lost the cashier's check before I could deposit it?
Contact the person or business that issued the check and tell them it was lost. They can contact the bank and request a stop payment on the original check, then issue a replacement. You may need to sign a declaration stating the check was lost. There is usually no fee for this, but it may take a few business days.