How Long Does a Cashier’s Check Last?

In general, checks do not expire. But sometimes, due to the issuing bank’s policy or any other factor, a cashier’s check may expire after some time. So if you do not know how long does a cashier’s check last, this article will assist you.

How Long Does a Cashiers Check Last

How long does a cashier’s check last?

  • In the US, a cashier’s check expires after five years from the date of purchase, So if you have a cashier’s check whose date is 01/01/2021 and it has been more than five years since then, that check will expire on 05/01/2026. The official website of the Federal Reserve Bank states that a cashier’s check can be cashed or deposited even after a period of ten years from the date it was issued. So if you have a cashier’s check whose date is 01/01/2020 and it has been more than ten years since then, that check will expire on 09/01/2030.
  • In Canada, a cashier’s check expires after one year from the date of purchase So if you have a cashier’s check whose date is 01/01/2020 and it has been more than one year since then, that check will expire on 02/01/2021.
  • In the UK, the cashier’s check expires after six months from the date of purchase. So if you have a cashier’s check whose date is 01/01/2020 and it has been more than six months since then, that check will expire on 07/01/2021.
  • In Australia, a cashier’s check expires after one year after the date of purchase. So if you have a cashier’s check whose date is 01/01/2020 and it has been more than one year since then, that check will expire on 02/01/2021.
  • In India, cashier’s check expires after three months from the date of purchase. So if you have a cashier’s check whose date is 01/01/2020 and it has been more than three months since then, that check will expire on 04/01/2021.
  • In Ireland, cashier’s check expires after six months from the date of purchase. So if you have a cashier’s check whose date is 01/01/2020 and it has been more than six months since then, that check will expire on 07/01/2021.
  • In Mexico, cashier’s check expires after two years from the date of purchase. So if you have a cashier’s check whose date is 01/01/2020 and it has been more than two years since then, that check will expire on 04/01/2022.

What to do if a check expires?

If you find that a cashier’s check has expired, then contact the organization that issued the check. They will be able to issue another one for you in order to allow you to access your fund or whatever it is for which you need this check.

What is a cashier’s check?

Cashier’s check is a type of draft that is used for transactions in the name of a third party. Unlike other types of drafts, cashier’s checks can be easily cashed and are considered as a reliable way to make payments. They are issued by the bank or any financial institution and not an individual who wants to make payment on behalf of another person.

Cashier’s check is considered a safe way to transact large amounts with reduced risk of fraud or any other type of theft. Most banks and financial institutions use cashier’s checks for transactions in the name of a third party because it is an official document, which can be verified easily before making the payment. This type of check can also be easily replaced if the issuer gets lost, stolen, or destroyed.

What are the Types of Checks?

There are a few types of checks to be used for various purposes. They are:

Personal Check:

A personal check is a type of check, which is written by an individual or a company as a mode of payment against an amount due from another person. The issuer signs the check with their name and inserts the date on which they promise to make the payment.

The recipient then deposits it into their bank account and waits for the payment to be received. If the issuer cannot pay, then he can return the check to the recipient before its due date, along with a written explanation of why he could not make the payment.

Cashier’s Check:

A cashier’s check is a type of check that the bank or any financial institution issues to make a payment on behalf of an individual or company. This type of check can be easily cashed, verified, and replaced if it gets lost, stolen, or destroyed. This check is generally used for large or expensive transactions, which need to be made through a secure mode of payment.

The issuer writes the amount on the check and allows the person intended to cash it to gain access to that money. In other words, a cashier’s check can be said as a type of guarantee from a bank or any financial institution to pay a specific amount of money.

Certified Check:

A certified check is a type of checking provided by banks and other financial institutions for individuals and companies to make payments against the value mentioned on the check. This type of check is also known as a cashier’s check or banker’s draft.

The issuer writes this check and then sends it to the intended payee. The bank guarantees its payment and allows the person who wants to cash it to gain access to that money. In other words, a cashier’s check is given by banks only after verifying the identity of both parties involved in a transaction.

Conclusion

Cashier’s checks are mostly used for large transactions, which involve an expensive amount. The issuer of this check is the bank itself, which means that it can be cashed by anyone who presents it to them. However, before doing so, one needs to provide certain documents in order to get the payment through.


References

  1. https://wallethub.com/answers/ca/do-cashiers-checks-expire-2140710994/#:~:text=A%20cashier’s%20check%20does%20not,the%20issuing%20bank%20to%20determine.
  2. https://money.usnews.com/banking/articles/how-long-is-a-check-good-for

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