You can use a cashier's check without a bank account, but you'll need to cash it somewhere that accepts them

A cashier's check is a check issued by a bank on its own account, not yours. Because the bank guarantees the funds, you don't need to own an account there to cash it. You can take a cashier's check to the issuing bank, a different bank where you have an account, a check-cashing service, or certain retailers. The catch: some places charge fees if you're not a customer, and you'll need to show ID.

The person or business that gave you the cashier's check should have written your name on it. That name must match your ID exactly. If it doesn't, the place cashing it will refuse, even if you're the intended recipient.

Key Takeaways

  • The bank that issued the cashier's check will cash it for free if you bring it in with a valid ID, even without an account.
  • A bank where you do have an account will usually cash it for free, but banks that don't know you may charge $5 to $15.
  • Check-cashing services and retailers like Walmart and Target will cash cashier's checks, but fees typically run 1 to 3 percent of the check amount.
  • Your name on the check must match your ID exactly, or the cashier will not process it.
  • Cashier's checks take one business day to clear, so funds may not be available immediately even after you hand it over.

Cashing at the issuing bank costs nothing

The fastest and cheapest option is to go to the bank that issued the check. Look at the check itself—the bank's name appears in the top left corner and usually along the bottom. Bring the check and a government-issued ID (driver's license, passport, or state ID card). The teller will verify your ID matches the name on the check and hand you cash or deposit it to an account if you ask.

This is free. The bank issued the check and guarantees it, so they have no reason to charge you. You don't need an account with them. Walk-in hours vary by branch, so call ahead or check online if you're going to a location you've never visited.

Banks where you have an account usually cash them free

If you have a checking or savings account at a different bank, you can deposit the cashier's check there or ask the teller to cash it. Most banks do this for free for their own customers. Bring your ID and the check. The teller will process it the same way they would a personal check.

Depositing takes one business day to clear. If you need cash immediately, ask the teller whether they can give you a cash advance or partial funds while the check clears. Some banks do this for customers; others don't. Cashing it (getting all funds in cash right away) is faster, but not all branches keep enough cash on hand, so call first if you need a large amount.

Banks that don't know you will charge a fee

If you walk into a bank where you have no account and try to cash a cashier's check, they may charge you $5 to $15. This is their right—they're doing work to verify the check and handle the transaction, and they have no relationship with you. Some banks waive the fee anyway; others enforce it strictly. Ask before you hand over the check.

The fee applies whether you're cashing it or depositing it. If the check is large, the fee might be worth it to avoid a check-cashing service. If it's small, a check-cashing place might actually be cheaper.

Check-cashing services and retailers charge a percentage

Check-cashing stores, payday loan shops, and some retailers (Walmart, Target, Kroger) will cash cashier's checks. Fees are usually 1 to 3 percent of the check amount. On a $500 check, that's $5 to $15. On a $2,000 check, it's $20 to $60. Call ahead or ask at the counter what their fee is before you hand over the check.

These places are fast—you get cash on the spot, no waiting for a bank to clear it. They're also open longer hours than banks and on weekends. The trade-off is the fee and the fact that you're handing your check to a business that may not be as secure as a bank. Bring your ID; they'll ask for it.

What happens if the name on the check doesn't match your ID

If your name on the check is spelled differently, includes a middle name your ID doesn't have, or is completely different, the cashier will not process it. This is a fraud prevention rule. The check must be made out to you, and your ID must prove that.

If the check was made out to the wrong name by mistake, contact the person or business that issued it and ask them to issue a new one with the correct name. This takes a few days. If the check was made out to you and a spouse or co-owner, both names must appear on the ID or you'll need to bring both people to cash it.

Timing: when you actually get the money

If you cash a cashier's check in person at a bank, you get cash immediately. If you deposit it, the bank holds it for one business day before the funds are available. This is standard for all checks, including cashier's checks, even though the bank has already may provide the funds.

Check-cashing services give you cash on the spot. Retailers that cash checks also give you cash immediately. The only delay is at a bank, and only if you deposit rather than cash.

Frequently Asked Questions

Can I cash a cashier's check made out to someone else?

No. The check must be made out to you by name, and your ID must match. If someone else's name is on it, only that person can cash it. If it was made out to you and another person, both of you need to be present with ID, or one of you needs to sign it over to the other (though not all banks accept third-party checks anymore).

What if I lost the cashier's check?

Contact the bank that issued it immediately. They can put a stop payment on it and issue a replacement. You'll need to provide the check number, amount, and date it was issued. There may be a small fee ($15 to $30) to reissue it, and the process takes a few business days.

Do I need to endorse the back of a cashier's check?

Yes. Sign the back of the check before you hand it over, whether you're cashing or depositing it. Write your signature on the line marked "Endorse here." Some places will ask you to sign in front of them; others will accept it already signed.

Can I deposit a cashier's check to a mobile app or ATM?

Yes, if your bank offers mobile check deposit. Take a photo of the front and back of the check using the bank's app, and it will be deposited to your account. The one-business-day hold still applies. Not all banks offer this for cashier's checks, so check your app or call your bank first.

What if the cashier's check is damaged or torn?

Most banks will still cash or deposit it if the damage doesn't affect the routing number, account number, or amount. If it's severely damaged, the bank may refuse it. Contact the issuing bank to ask whether they'll accept it or issue a replacement.