The bank freezes the amount until the check is deposited. The funds draw from the personal account of the payer. Lastly, you can look into wire transfers. This usually involves sending money from one bank account to another. You can make a wire transfers online or at a bank branch if you want to pay in cash. The recipient can access the money almost immediately, making it a good option for long distance payments.
They come with almost immediately available funds and little risk of check bouncing. You should also have your ID ready; the teller will probably ask to see it. Visit a nearby branch and request the check from a teller. This is the standard way, but some banks, especially online-focused ones, make other methods available, such as calling, ordering online or sending an online message to their customer support team. In those cases, a cashier's check would then be mailed to your recipient, which takes longer.
If you need the check that day, visit a branch if your bank has one, or find a bank or credit union that accepts non-customers. Pay the check amount plus any applicable fee. If the funds are in an account at that institution, the full amount of the check will be frozen in your account or withdrawn when the check is issued.
Have enough in the account to pay any fee as well. The teller will issue and sign the cashier's check. Get a receipt. Ask for proof of payment. You might be able to use this to track the check. If you don't have a checking account at a bank or credit union, you might need to open one.
If opening a bank account isn't practical, a money order might be your next-best option. See the best checking accounts. The bank certifies that the signature is genuine and that the customer had sufficient funds to cover the check when it was issued. Here are tips on when you should use a certified check. Money orders are a prepaid type of payment restricted by a maximum amount , such as the U.
Here's the lowdown on when it makes sense to use a money order. Some financial institutions offer reduced fees or no fees for certain account holders. Many sell them only to account holders. Here's a list of official check fees at popular banks. Ally Bank. Bank of America. Capital One Chase Bank. Edited By Brian Beers. Edited by.
Brian Beers. Brian Beers is the senior wealth editor at Bankrate. He oversees editorial coverage of banking, investing, the economy and all things money. Reviewed by. Kenneth Chavis IV. Share this page. Bankrate Logo Why you can trust Bankrate. Bankrate Logo Editorial Integrity. Key Principles We value your trust. Bankrate Logo Insurance Disclosure. Read more From Libby. About our review board. Wells Fargo checking accounts.
What is a certified check? United Kingdom. Rebecca Lake, Mitch Strohm. Contributor, Editor. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.
This can help you avoid insufficient funds, overdraft and returned payment fees. Funds availability may be faster. Banks have funds availability policies that determine when deposits will clear.
For instance, it can take some payments up to five business days to clear, or longer for large deposits. Security is increased. You usually have to visit your bank branch. This could be difficult to do if you need to make a payment outside of regular banking hours.
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