What Is the Bank of America Cashier’s Check Fee?
Banking / Checking Account
Roman Tiraspolsky / Shutterstock.com
With a Bank of America checking account, you have access to financial products, including cashier’s checks. You might need a cashier’s check for a large transaction in which a guaranteed form of payment is requested, like buying a house or a car.
Although some banking institutions will issue cashier’s checks if you don’t bank with them, Bank of America issues them only to account holders — depending on the type of account they have, they might have to pay a $15 fee. Find out how much you’ll pay for a Bank of America cashier’s check, how to get one, how to avoid getting scammed and why you might need a cashier’s check instead of another kind of guaranteed check.
How To Get a Bank of America Cashier’s Check
Because a bank — instead of an individual — guarantees cashier’s checks, they are typically considered safe. When a customer requests a cashier’s check from a bank, the bank first ensures the customer has enough in their account to cover the check, then freezes the funds until the payee cashes the check.
To get a cashier’s check you will need to visit your nearest branch and provide the teller with your ID, bank account information, exact amount of the check and name of destination wedding locations usa payee. The teller will print the check and sign it, and you’ll need to pay the cashier’s check fee scott trades youtube you are enrolled in Bank of America’s Preferred Rewards program. Once you pay the fee you can take the check and present it to the payee.
BofA’s Cashier’s Check Fee
Bank of America offers cashier’s checks to all customers with a checking or savings account for a $15 fee. If you are enrolled in Bank of America’s Preferred Rewards program, however, you’ll get cashier’s checks for free. If you do have to pay the fee, Bank of America’s cashier’s check fee is in the middle for the industry — Wells Fargo and Citibank charge $10 and also offer cashier’s checks for free on certain accounts. Capital One charges $20 for an online purchase with overnight shipping or $10 in-branch, but has no waiver.
How Cashier’s Checks Differ From Other Guaranteed Checks
Cashier’s checks are different from money orders and certified checks. A certified check is a personal check that the bank certifies and signs as a guarantee that you have the funds in your account and that your signature is genuine.
Like cashier’s checks, money orders are prepaid — you can get them from financial institutions, post offices and even some retail stores like Walmart. A money order, however, is limited to $1,000 or less. If you need to pay for something that costs more than $1,000 and the payee wants a guaranteed form of payment you’ll likely need a cashier’s check.
How to Avoid Cashier’s Check Fraud
Because cashier’s checks are generally trusted, they are frequently used in scams. Although you can usually withdraw funds from bank check boa deposited cashier’s check quickly, if the check ends up being fraudulent you’ll be responsible for paying the money back to the bank.
Be careful about accepting a cashier’s check from a stranger, even one issued by Bank of America or another trusted bank. To cut down on the likelihood of getting a bad cashier’s check, follow these steps:
- If possible, ask for a cashier’s check drawn on a bank with a branch near you.
- Call or visit the bank on which the check is written to find bank check boa if it is genuine.
- Know the difference between funds being available for withdrawal from your account and the cashier’s check actually clearing. Some banks are required by law to make funds available to customers even if the check hasn’t cleared.
Information is accurate as of Nov. 16, 2021.
About the Author
Valerie Smith is a writer based in Southern California, specializing in legal, real estate, finance, and aviation topics. Valerie is a commercial pilot, FAA licensed aircraft dispatcher, FAA licensed Advanced and Instrument Ground Instructor, California real estate broker, and certified paralegal. Her work has appeared in numerous publications in print and online. A life-long California resident, Valerie holds a Bachelor of Arts degree from San Diego State University and attended Sheffield School of Aeronautics.
Bank of America is one of the largest banks in the United States and chances are you have a branch just around the corner.
While headquartered in Charlotte, North Carolina, Bank of America has approximately 4,600 retail branch locations and almost 16,000 automated teller machines sprinkled throughout the country. I did a quick search on their location tools and found 50 results within 12.7 miles! (many were ATMs, but still quite a sizable footprint)
Bank of America is the second-largest bank behind JPMorgan Chase – and today you can find out how they will give you money to open an account with them.
Bank of America has two cash offers:
We’ll discuss both:
💰 Discover Online Savings Account – $150 or $200
Discover Bank is offering a $150 or $200 bonus to open your first Online Savings Account. Just open it with the code WH21 by 12/15/2021 and then deposit at least $15,000 to get the lowest bonus amount. Deposit $25,000 to get the higher amount.
Learn more about this offer
If this offer isn’t for you, remember that Wells Fargo has a nationwide $200 offer worth checking out.
Promotions For New Customers fifth third bank sign in Bank of America — $100
If you are not a customer of Bank of America at all, the offer is not as generous (though not all existing customers are offered the account bonus listed below). Their public nationwide offer is for $100 and to get it, you bank check boa to open a new checking account on their offer page.
Three Bank of America Checking accounts qualify for this bonus:
- Bank of America Advantage SafeBalance Banking® – $25 opening deposit, $4.95 monthly fee waived for eligible students or enrolees of Preferred Rewards
- Bank of America Advantage Plus Banking® – $100 opening deposit, $12 monthly fee waived with direct deposit or daily balance requirements, etc.
- Bank of America Advantage Relationship Banking® – $100 opening deposit, $25 monthly fee waived with direct deposit or daily balance requirements, etc.
Open the account and set up and receive qualifying direct deposits of $1,000 or more into that account within the first 90 days of opening and you’ll get your bonus. Confirm the monthly fee waiver rules for each (they can change from when this is published) but they are relatively easy to satisfy.
Don’t forget, the Bank of America promotional offer code is DNL100CIS. If you click through the links on this site, the code will be entered automatically for you.
Learn more about this offer
(Offer expires 6/30/2022)
Existing Non-Checking Customers — $300
If you already have an account with Bank of America, such as a credit card, but you don’t have a personal checking account, log in and you may see a higher offer.
On the right-hand side of the screen, you’ll see an “Activity Center.” When you click on Special Offers & Deals, you may see the following offer.
“*This exclusive offer is only for select Bank of America® customers who don’t already have a personal checking account with us and who get cash app card an email or direct communication from Bank of America.”
The best one we’ve seen is where you:
- Open a Bank of America Core Checking or Interest Checking account, and,
- Set up a qualifying direct deposit totaling $4,000 or more within the first 90 days of opening your account to get the $300 bonus.
The terms will be similar though the dollar amounts may vary based on what they’ve decided to offer you.
Both accounts have monthly maintenance fees. These can be waived if you meet other qualifications such as a minimum daily balance or maintaining that direct deposit. The bonus money will be reported as income as a 1099-MISC.
To get this offer, you need to log into your existing Bank of America account and look in the Activity Center menu. If you don’t see it, it’s no longer available.
How Does This Bonus Compare?
If you’re an existing customer and qualify, the $300 bonus is pretty good because it’s easy. We maintain a list of bank bonus offers and there are very few offers that are as generous as the $300 (with such easy requirements). Since you already have an existing relationship with Bank of America, it makes the maintenance of the account simpler since you have a login already.
If you’re not a customer, the $100 bonus not bad but not as good as some others. I’ve never seen a higher offer from Bank of America so this is not a case of “wait and see” if they make a higher offer sometime later.
Wells Fargo – $200
Wells Fargo has a nationwide promotion of $200 for a new checking account when you open a new checking account with at least $25 and receive a total of $1,000 or more in qualifying direct deposits into the new checking account within 90 days from account opening.
You can learn more about the Wells Fargo promotions to see how to get it.
Discover Online Savings Account – $150 or $200
Discover Bank is offering a $150 or $200 bonus when you open your first Discover Online Savings Account with the promotion code WH21 and deposit at least $15,000 into the account within 30 days. You get $150 if you deposit $15,000 or more and $200 if you deposit $25,000.
Chase Total Checking® – $225
Chase Bank will give you $225 when you open a Total Checking account and set up direct deposit within 90 days. There is a $12 monthly fee that is waivable with a monthly direct deposit of just $500, so no gotchas on this deal!
HSBC Premier Checking – $450
HSBC has an offer where you can get $450 for eligible new customers who open an HSBC Premier checking account and make recurring monthly qualifying direct deposits of at least $5,000 for 3 consecutive months. Click here to learn more about this offer.
Huntington Bank – up to $500
If you are a resident of Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Dakota, West Virginia, or Wisconsin then you could get up to $500 from Huntington Bank for opening a new checking account. There are several checking accounts that qualify but they’re great offers if you live in their geographic region. Click here to learn more about Huntington Bank offers.
So as you can see, the public offer from Bank of America is OK. Other banks both have similar large geographic footprints (Chase is bigger) so you aren’t getting anything extra by going with Bank of America.
Before you take advantage of this or any other bank offer, review this guide on bank account bonuses to make sure you know what to watch out for.
The offer code for the $100 new account bonus is DNL100CIS.
Only when they have an active promotion, such as the $100 offer for opening a new checking account. The most popular promotion is getting $100 for opening a new account and set up and receive qualifying direct deposits of $1,000 or more into that account within the first 90 days of opening.
DNL100CIS is the promotion code you must enter to get the $100 bonus for bank check boa a new Bank of America checking account.
The code gives you $100 for opening a new Bank of America checking account.
There are three checking accounts and the fees vary from $4.95 a month to $25 a month. They can be waived if you set up a direct deposit or maintain a high enough daily balance.
Bank of America $300 Cash Bonus
- $300 for existing customers, $100 for new customers
- Wide geographic footprint
- Relatively easy bonus requirements
- Museums on Us program
- Lower bonus for non-customers
- Accounts pay no or little interest
- Monthly maintenance fees (that can be easily avoided)
How to get a cash advance with Bank of America
When you’ve depleted your savings and you urgently need cash, a cash advance may be the answer. While it’s an extremely expensive way to borrow, it can be a viable option when you have no other means to access cash.
If you have a Bank of America credit card, there are a few ways you can use it to receive cash. Read on to learn how to do it and what you should keep in mind before taking out cash from your credit card.
What is a cash advance?
A cash advance is a type of credit card transaction that allows you to borrow cash against your credit line. In a way, it’s similar to getting cash from your debit card, but cash advance terms can make such transactions very costly.
Cash advances come with their own set of terms that are different from those of regular purchases. Cash advance APRs are much higher than purchase APRs, and you don’t get a grace period on a cash advance, meaning interest starts to accumulate right away. Plus, there are expensive fees to keep in mind.
This is why it’s best to avoid getting cash from your credit card. Explore all other options before turning to a cash advance to avoid putting a strain on your budget due to snowballing interest and fees.
However, if you find that a cash advance is indeed the best option in your situation, there are several ways you can get it with Bank of America.
How to get a cash advance with Bank of America
Bank of America offers four options for getting a cash advance.
Go to a Bank of America branch
You can request a cash advance in person at your local Bank of America branch. Bank check boa sure to bring your Bank of America credit card and a government-issued ID to verify your identity.
Use an ATM
You can get a cash advance from your Bank of America credit card from any ATM that displays Visa and Mastercard logos. You’ll need a PIN to use your credit card for this type of transaction – request it through your online account or call the number on the back of your card.
Get a convenience check
Another option to get cash from your Bank of America credit card is to use a convenience check. A convenience check works like a regular personal check that draws funds from your checking account, but the convenience check allows you to draw money from your credit line.
Banks sometimes mail convenience checks as a promotion, but if you haven’t received any from Bank of America, you can contact the issuer to request them.
Deposit cash into your checking account
Probably the most convenient way to get a cash advance from Bank bank check boa America is to transfer funds directly into your checking account. Head over to your online account to request a cash advance. The deposit normally takes up to three business days.
Alternatively, for an extra fee, you can use the same-day transfer option to send money to your Bank of America checking account.
Note, however, that not all cardholders are eligible to use the deposit feature. If you try to request a cash advance this way and get a message that the transaction can’t be completed, the issuer suggests calling in to discuss your options.
What to consider before getting a cash advance
While Bank of America makes it easy to get cash from your credit card, it’s important to be aware of how much a cash advance can cost you before you use this option.
Here’s what makes cash advances so expensive.
Cash advance fees
For starters, there’s a fee on taking out a cash advance in the first place. You’ll pay either $10 or 3% of the transaction amount, whichever is greater, if you’re using a direct deposit bank check boa convenience check.
If you’re using the same-day option to transfer funds to your Bank of America checking account, getting cash from an ATM or requesting a cash advance at a local branch, the fee will be $10 or 5% of the transaction amount, whichever is greater.
High interest rate
The most dangerous part of taking out a cash advance is its APR.
At the time of writing, the APR for cash advances on Bank of America credit cards is 27.24%. Considering there’s no grace period on cash advances, and the interest begins to compound immediately, this type of debt can get out of hand rather quickly if you don’t pay it off right away.
Note that some credit cards come with a significantly lower cash advance APR. For instance, you might want to look into bank of america auto loan payoff dealer Power Cash Rewards Visa Signature® Card, which only charges a 17.99% APR on this type of transaction. It’s still expensive, but a much better option for a cash advance. On top of that, the card doesn’t charge a cash advance fee.
There are multiple ways to get a cash advance from your Bank of America credit card, but it’s an expensive kind of debt. It’s best to consider this option a last resort and work on building an emergency fund to avoid needing it in the future.
The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.
Ana Staples is a staff reporter and young credit expert reporter for CreditCards.com and covers product news and credit advice. She loves sharing financial expertise with her reader and believes that the right financial advice at the right time can make a real difference. In her free time, Anastasiia writes romance stories and plans a trip to the French Riviera she'll take one day—when she has enough points, that is.
Best Ways to Get a Cashier’s Check
A cashier’s check is a check that’s drawn against the bank’s account rather than yours. It’s written in the bank’s name and is typically signed by a teller. The bank is responsible for paying the check to the payee. You pay the bank back the funds needed to cover the check from your account.
There are several scenarios when it makes sense to use a cashier’s check in place of a personal check because of the benefits and protections it offers that you may not enjoy with personal checks or cash payments. Here’s what you need to know about using cashier’s checks and how to get one.
A cashier’s check is written in the bank’s name rather than yours and signed not by you but by a teller, which means that the bank is guaranteeing its payment.
Why Use a Cashier’s Check to Pay?
A cashier’s check is typically associated with a large payment when the payee wants reassurance that the check won’t bounce. For example, you might use a cashier’s walmart la plata pharmacy hours to:
- Make a down payment on a home
- Pay closing costs for a mortgage
- Buy a car or boat
- Purchase a piece of land
In other words, they’re not generally used for everyday spending.
A cashier’s check provides a measure of security to everyone involved in the transaction. The payee—the person receiving the funds—knows that the check won’t be returned, as it’s being drawn from the bank’s account. Because cashier’s checks usually have watermarks and require signatures from one or more bank employees, the bank has the reassurance that the check won’t be counterfeited. And you don’t have to worry about sharing your personal checking account information with the payee, as the check isn’t drawn from your account.
There’s one other advantage to the payee of using a cashier’s check: The funds are usually available by the next business day. With a large personal check, the bank might place a hold of several days to allow the check time to clear.
Best Ways to Get a Cashier’s Check closest bb&t atm near me There are three places to get a cashier’s check: visiting a bank branch, going to a credit union, or online.
For all three options, you’ll first need to check the issuer's requirements for providing a cashier’s check. Some banks and credit unions limit cashier’s checks to people who have an account there. If the bank or credit union allows citizens one card services login to get a cashier’s check without having an account, you'll need to come with cash in hand to cover the check's amount.
Once you’ve identified the bank or credit union branch from which you want to get the cashier’s check—and have verified whether you need an account—the rest is fairly simple. To get a cashier’s check at a branch, you’ll just need to:
- Get your information together. You’ll need the exact name of the payee and the amount for the check. You’ll also need to have a picture ID to verify your identity and any notes you want to include on the check regarding what the payment is for.
- See a teller. A teller can supply you with a cashier’s check. Again, just bank check boa ready to show your ID and provide the name of the payee and the freedom mortgage skip a payment amount. If you’re a current customer of the bank or credit union, you’ll need to specify to the teller the account from which the funds for the check should be drawn. 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. You may be able to get free cashier’s checks if you have a premium checking, savings, or money market account at the bank.
Your bank or credit union may also offer cashier’s checks online. If it does, you’ll need to log in to its website and select the account you’d like to use for the check. Depending on the institution's menu navigation, the option to order a cashier’s check online may be included under the “Order Checks” tab. You then follow the menu prompts, which means adding in the payee’s name, the amount, and any notes you want to include. The check will be mailed to the payee, which will likely take longer than if you get the check at the counter in-person and then hand-deliver it.
Get a Receipt
Always get a paper or digital receipt for any cashier’s checks you get. Your receipt verifies proof of payment, and it’s something you’ll want to have if a cashier’s check is lost or stolen.
Are There Cashier’s Check Alternatives?
If you don’t want to write a personal check—and a payee bank check boa accept a cashier’s check—there are other options for making large payments.
A money order isn’t a check, but it is a secure form of payment. You purchase the money order for a specific dollar amount and write it out to the payee. They take it to the bank and either deposits or cashes it.
Compared to a cashier’s check, a money order may be less expensive. The U.S. Postal Service, for example, offers them for $1.75 or less. They’re also more the new master key system to get, as you’re not limited to finding them at banks and credit unions. You can purchase money orders at the post office, supermarkets, and some gas stations. And you don’t need a bank account to get a money order; you just need to have the cash to cover the money order and the fee.
Certified checks are like cashier’s checks, but they’re drawn directly against your account. It’s essentially still a personal check, but it’s signed by both you and the bank. That means the bank guarantees the amount of the check to the payee. However, if there are insufficient funds in your account to cover it, you’ll have to pay any associated fees the bank charges.
A certified check may be less secure than a cashier’s check. These checks may not have the same watermarks, making them easier to duplicate. In general, though, a certified check is still a more secure way to pay than a money order or a personal check.
Wire transfers are a third cashier’s check alternative to consider. With a wire transfer, money is sent electronically directly from your account to someone else’s, with no check needed. That’s pnc bank national association locations low-stress way to send money, but there are some downsides.
For one thing, wire transfers can be more expensive than cashier’s checks, certified checks, or money orders. Depending on the bank and where the money is going, you may pay between $14 to $50 to execute a wire transfer.
The other drawback is that wire transfers aren’t always instant. It can take several days for an international wire transfer to be completed, which may not be convenient for your payee if the money is needed quickly.
Social Payment Apps
Social payment apps may be useful for sending money to friends and family. With these apps, you can send money to someone’s email address or phone number by using your bank account, debit card, credit card, or a balance you have in the app. Transfers can be instant and—depending on where the money for the transfer comes from—you may pay zero fees.
Watch Out for Transfer Limits
Some apps limit how much you can send in a single transaction and per day. If you have a large amount to send, you may be better off looking at a cashier’s check or one of the other options mentioned above.
What If a Cashier’s Check Is Lost or Stolen?
If you purchase a cashier’s check and lose it, or it’s stolen, you’re not completely at a loss. You can ask the bank to reissue the check. The caveat is that the bank may ask for an indemnity bond first. This bond makes you liable for the check’s replacement. And it’s not an instant process. Depending on the bank, you may have to wait 30 to 90 days to receive a replacement cashier’s check.
The Bottom Line
Cashier’s checks are often the payment of choice when buying a home or car. Understanding how they work and where you can get one can help you decide if it’s the right way to pay.
And when you’re on the receiving end of a cashier’s check, take care to avoid fraud. Accept cashier’s checks only from people you know, if possible, and give the check time to clear after depositing it into your bank account.
I found an article that discusses this subject. It seems that the length of time before a check expires depends on the state and the bank:
Discussions about personal check expiration dates inevitably spiral into debates about the nuances of loan ethics. Although banking laws differ from state to state, most states consider that checks in excess of 6 months old are considered “stale dated.” Contrary to the conventional wisdom, stale dated checks can still be cashed successfully. However, the drawee’s bank has the right to refuse payment on the check or “bounce” it.
But you asked specifically about Bank of America. I did not find anything on their web site mentioning how long their checks remain valid. But I did find a how to determine mortgage payments formula post that answers your question.
The author of the blog post asked a Bank of America representative about a personal check his wife had written to someone a year earlier. The representative said the following, and said he was 100% sure about it:
“Check are good for 180 days (unless otherwise noted), so if the check came from your personal checkbook, it would be void by now.”
answered Nov 14 '14 at 2:19
3,32533 gold badges1919 silver badges3232 bronze badges