What is the advantage and disadvantage of a cashier's check?

Answer 1

The advantage is that you don't have to wait for the person you are giving it to to cash it. The financial inst. will take the funds from your account that same day. Also, the funds can be made available in your account sooner. Financial Inst. have a special deposit slip that you can use that will make the funds available on the next business day. The funds are also guaranteed since the bank already funded it from money from your account. A disadvantage is that if it gets lost or stolen some places will make you wait as long as 90 days to replace it. In some cases they will waive that, depends on your relationship with your bank.

Answer 2

a cashier check is consider like cash and banks are required
to accpet them as cash -the disadvantages-
they are easy to counterfeit and scammers love to send them to
their victims for something they want to "buy from the victim
Like the victim is selling a motorcycle for say $150.00
the scammer will send the victim a cashier check
for 2,000, so the victim would cash the check and send
the overpayment back to the scammer.(usually via western union)
meanwhile the cashier check turns out to be a fake/counterfeit
and the bank takes back their money..---
leaving the victim in the hold and the scammer
already has received his "money"
from them the vicitm

Answer 3

can you get your money back if item returned and paid with cashiers check