I'm not too familiar with these, but I read up a little about cashier's checks and certified checks... basically what they are. They seem to be pretty much the same thing. Is that true? Was wondering if there are any fees associated (that the bank charges) when getting either a cashier's check or a certified check (both of them have fees, neither of them, if only one has fees attached please specify which one) Essentially, which of the two would be the better one to get if I'm thinking about keeping the fees charged to a minimum? Or do the fees being applied really depend on the bank from which you are getting the cashier's check or a certified check...? If I have an account with the bank, are the fees waived? Any help would be greatly appreciated!!!! Thanks!
2007-06-26 15:39:05 · 5 answers · asked by blueskies 2 in Business & Finance ➔ Personal Finance
With a certified check (as well as a Money Order), the bank takes the money out of your account immediately - guaranteeing that the check won't bounce. A cashier's check is usually cleared immediately as well - but NOT always.
Most banks charge fees for all three - and it varies between banks...
I have a Staff account at my bank - and this is the only way I know of to avoid paying the fees :(
2007-06-26 15:53:38 · answer #1 · answered by kr_toronto 7 · 0⤊ 0⤋
I have gotten several cashiers checks from Bank of America without paying any fees. Perhaps they have a minimum checking/savings balance to waive the fees. Sorry, but I have no info on certified checks, but it is my understanding that a certified check does not guarantee the funds will be available when the check is cashed, only when it is written.
2007-06-26 16:30:56 · answer #2 · answered by skipper 7 · 0⤊ 0⤋
Because they can. They will charge you for every thing they can, like the airlines. I use bank of america and I found a good way to avoid those fees if you are going to be mailing the check. You can go to your online bill-pay setting and put the person or company you want to pay into that system. Then "pay" them using the online bill-pay. The bank will mail them a check just like they would if it was your phone bill etc. I'm not sure if other banks do that too but you can check.
2016-05-21 04:35:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, either way there is a fee. The fess are usually the same, possibly higher at a currency exchange, but even at your bank, unless it's a very small bank, they will charge you.
2007-06-26 15:46:40 · answer #4 · answered by dahlia 4 · 0⤊ 0⤋
hard issue. research at google or bing. it might help!
2015-04-29 17:23:47 · answer #5 · answered by Barbara 2 · 0⤊ 0⤋