A cashiers check is a check guaranteed by a bank, drawn on the banks own funds and signed by a bank employee. It is a payment instrument issued by a bank or credit union to a third party, usually on behalf of a bank customer who pays the bank the face value of the check. Unlike a regular check, the bank, not the check writer, guarantees payment of a cashier’s check. Cashiers checks are typically used for large purchases, such as a car or house sale, when you likely cant use a debit or credit card, and using cash is risky. They are also used to make a security deposit on an apartment, to cover the down payment on a new car, and to pay a merchant or vendor that requires cash and won’t accept personal checks.

To obtain a cashiers check, you need to provide the exact name of the payee, the business or person you are paying, and the precise amount of the check. You also need to have your ID ready, as the teller will probably ask to see it. Cashiers checks are drawn on a financial institutions funds, but you supply the check amount (in the form of cash or as a withdrawal from your account) to your bank ahead of time. Most banks issue cashiers checks only to their own customers, so youll typically need an account to get this type of check from a bank.