Payment Options

I think Bank Checks (Cashiers Checks) are just as good as money orders because they are both paid for up front with cash. At my bank they look exactly the same, the only difference is the Money orders are not made payable to a certain person...the lines are left blank for the purchaser to fill in. On a Cashiers check the person it's made payable to is printed right on the check. Another difference is the Money orders are not signed by a bank person but the Bank Checks are. Most people like Bank Checks because they look more official.

Also I work at the bank and I have to get Bank Checks all the time for the customers I deal with and the account numbers are not printed anywhere on the check.

Thanks that is helpful information. I just did not want to try this option and the pdl finding out my bank information and tyring to deduct any money. I'm just paranoid and want to make sure that payments are acceptable this way.

A person off the street can come in the bank and ask for a Cashiers Check and not have a checking account. The numbers on the bottom of the cashiers check are for the bank to be able to trace the check in case it gets lost or stolen.
But the cashiers checks are no way tied to your checking account so the person you are giving it to will have absolutly noway of getting your checking account information.

Hi PinkLady, nice to know that you work in a bank, so your info on this helps :) In case, the cashiers check gets lost, who is accountable to that company to whom the check is drawn. I paid the full money to the bank when receiving the cashiers check. My liability is over from that point. In case the company doesn't receive the check, will bank give me the refund? Meanwhile, the company can charge me interests and fees for being late after the due date. Who is going to bear the damages? It will be helpful if you can provide some info on this.

I might be wrong, but if a check is reported as lost don't they put a tracer on it to see if it has been cashed, and if it hasn't they issue a new one and cancel the old cashier's check? I had this happen with a money order a long time ago and I had to go through a similar process to get a refund. (I received a refund of the original amount of the money order) and resent a new one. I would think a cashier's check could just be cancelled and a new one reissued if it is found the check hasn't been cashed.

Well I know at our bank we give our customers a slip that we encourage them to hang on to for a little bit especially if your are going to mail off the check. I would encourage the person to send the check certified mail as well so it could be tracked especially if it's a large amount. If a company says they did not recieve the check our customers can bring in the slip and we can trace the check to see if it has been cashed or presented. Now here is the down fall, if the check has not been cashed there must be a stop payment placed on the cashiers check which the customer would have to pay a fee for and there may be a small fee to reissue a new one or to get your money back. Unfortuantly the person getting the cashiers check would bear the damages.

Let me also add that all banks are different in how they would handle the situation, especially inregards to any fees? I know my bank is fee happy and they charge and charge for everything..lol
Defiantly check with you bank just so you know the procedure.

Thanks Pinklady for the info. You were quite upfront about your bank. lol