Can You Use a Credit Card to Get a Cashier's Check or Money Order? ... Legally people can use funds derived from a credit card to buy a cashier's check or a money order. However, some financial institutions may choose not to accept a credit card as a form of payment.
If you're not a customer, you'll need to pay the check amount in cash. Pay any applicable check fee. Most banks and credit unions charge a fee for cashier's checks. The fees at some of the largest banks range from $6 to $10, although your bank may charge more or less.
Credit card providers generally allow you to pay for a money order with a credit card, but they typically treat the transaction as a cash advance rather than a regular purchase. ... So, for a $100 money order, you'd pay $10, and on a $500 money order, you'd pay $25. 4. You'll pay a higher interest rate.
You can neither send someone a cashier's check electronically nor use it for spending online. That's because ACH and wire transfers are considered the equivalents of an electronic cashier's check in terms of security. As far as online shopping is concerned, your best bet is to simply use a credit card.
They are considered "safe" forms of payment because you can only purchase them with cash (or cash-like instruments such as a debit card or cash advance on a credit card).
They're usually more readily available since you can purchase them from banks, post offices and some retail stores. You can buy a money order with cash or a debit card.
Cashier's and government checks, along with checks drawn on the same financial institution that holds your account, usually clear faster, in one business day.
There's often no limit on a cashier's check, provided you have the money for it. Some banks do impose a maximum amount if the check is ordered online. This limit can range from $2,500 to $250,000 per check or more.
How do I make a payment with a cashier's check? Pay with a check that's as good as cash by sending directly to the payee. Cashier's checks are as good as cash. You can purchase a cashier's check online through a direct checking account and deliver the check directly to the payee's address or to your address on file.
Getting Cashier's Checks From the Post Office
They are offered at the post office for a fee of approximately $10. This form of payment is recommended for transactions over $1000. ... Unfortunately, a cashier's check can't be redeemed at the post office, but can be at a bank or other large financial institution.
Money orders must be purchased in person, so you cannot use a credit card to pay for a money order online. If you would like to send money to friends or family online, consider a money transfer app like Venmo or Square Cash (aka the Cash App).
If you don't have a checking account at a bank or credit union, you might need to open one. Banks and credit unions are the only institutions that can issue cashier's checks, and many don't provide them to non-customers.
Some banks do not require you to have a deposit account to issue a cashier's check. For example, Huntington Bank will issue cashier's checks to non-account holders as long as they have insurance, a safe deposit box or a credit card with the bank.
Although you can't get a cashier's check at Walmart, you can cash one. In fact, you can cash multiple kinds of checks at Walmart, including the following: Payroll checks. ... MoneyGram money orders that were purchased at Walmart.
Cashier's checks usually come with a few security features that minimize the security risk of sending one. It does come with a fee that varies from bank to bank. Use indelible ink. Whenever you send a payment document through the mail, especially a check, use a pen that has indelible ink to send it.
Obtain Cashier's Check
FedEx prohibits the shipment of cash so visit a bank or other authorized provider to obtain a cashier's check and fill it out with the name of the recipient. Cashier's checks print on paper with carbon copies so you can keep the carbon copy while sending the actual check.
Cashier's checks, certified checks and money orders all can be issued by banks or credit unions.
Cashier's Checks are Safer to Use
Although there are check scams involving fake cashier's checks and money orders, a cashier's check has more security features than a typical money order. Also, a cashier's check is backed by a bank and may carry more clout with the payee than being backed by a check cashing store.
Unlike a personal check, a cashier's check is a direct obligation of the bank. As a result, there is virtually no risk that a cashier's check will bounce or otherwise be invalid. Unfortunately, fraudsters can create phony cashier's checks and use them for check scams.
Scams involving fraudulent cashier's checks are common, with many victims losing thousands of dollars.
As a rule, the only time a bank may refuse to pay its cashier's check is when the bank has its own defense against paying the item and the person attempting to enforce payment is not a holder in due course.
Fees for a cashier's check
Cashier's checks typically cost about $10-$15. Some banks waive the fee for certain account holders, so ask your bank. For example, Bank of America charges $15 for a cashier's check, but waives the fee for account holders who meet certain balance requirements.
If You Deposit a Lot of Cash, Does Your Bank Report It to the Government? Federal law governs the reporting of large cash deposits. ... Depositing a big amount of cash that is $10,000 or more means your bank or credit union will report it to the federal government.