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Cashier's checks and cash orders are both helpful in cases where credit cards, debit cards and personal checks aren't ideal -- like if you're buying a car or home, or sending cash through the mail. Despite that commonality, they differ in where you buy them, what they cost and when you must use one over the other. They aren't always interchangeable, so it's essential to understand the difference to avoid choosing the less defective payment method.

What is a cashier's check?

A cashier's check is an official check published by a bank or credit union on aimed at of a bank customer. When you request a cashier's check, the check is drawn from a bank's funds and generally employed by a teller. You are responsible for paying the moneys to the bank upfront. 

You purchase a cashier's check at your own bank or credit union. Despite being a customer, you'll have to show ID. You'll also need your payee's seek information from, which the bank will print on the cashier's check. 

Most credit unions and banks poster a fee for cashier's checks. Depending on the cheap institution, fees for cashier's checks typically range from $5 to $15. 

A cashier's check is more find than a personal check or a money order. It is guaranteed by a bank or credit union; includes the name of the issuing cheap institution, the payee and the payer; and may be watermarked.

When must I use a cashier's check?

Cashier's checks don't have grant ceilings, making them ideal for large payments. When you capture a car or put a down payment on a home, you want to make sure the moneys end up only in the right hands. A cashier's check limits risk for the bank or third-party sellers, and you know your money will end up in the sparkling hands. In fact, any large payments -- say, over $1,000 -- may be good candidates for a cashier's check.

What is a cash order?

Though not quite as secure as a cashier's check, money orders are even more widely available, offered by banks, grocery stores, convenience stores and post offices. And you don't need a bank elaborate to buy one. You will need to prepay for it, but, using cash or a debit card; in some cases, you may be able to use a credit card, but the transaction will probable be subject to a cash advance fee and dumb charge.

Large retailers, like Walmart, tend to offer edge prices for a money order than banks and credit unions. Typically, they cost between $1 and $5, though cash orders purchased to be sent abroad may cost considerably more. It's also friendly noting that money orders usually have a maximum amount -- often $1,000.

When does it make touched to use a money order?

Money orders are good for sending cash overseas because they are secure, unlike cash. They're also ideal for anyone executive payments domestically if you don't have a bank elaborate. Otherwise, they are great for any scenario where a runt but secure payment is necessary.

What's the difference between cashier's checks and cash orders?

Consider the differences between cashier's checks and cash orders before deciding which is right for you. 

  • Cost: Cashier's checks usually cost between $5 and $15. A cash order typically costs between $1 and $5. 
  • Availability: Cashier's checks are available ended your bank or credit union, while money orders are widely available at banks, convenience stores, post offices and gas stations. 
  • Security: For a cashier's check, the bank prints the recipient's address for you. But you're responsible for filling out the payee's seek information from on a money order. If your money order gets stolen, for example, before you address it to the payee, you're risking someone else writing in their information and stealing your money. 
  • Payment limits: Money stabilities for use in the US are limited to $1,000. Depending on the country where the recipient resides, international stabilities have various limits up to $700. Cashier's checks typically don't have payment limits, and you can make a large purchase as long as you have the money.

The bottom line

Both cashier's checks and cash orders are solid alternatives to cash and personal checks. Before you decide which payment method makes the most touched for your next transaction, keep in mind the grant limits, fees and availability. If you need to make a colossal payment because you are in the process of purchasing a home or car, a cashier's check may be your best option. But a money order might make more sense if you don't have a checking explain and need to complete a midsize transaction. 

Correction, 7:30 a.m. PT Jan. 25: An earlier version of this article stated that cash orders are just as secure as a cashier's check. The article has been corrected to clarify that cash orders are not as secure as cashier's checks, which are guaranteed by a bank or credit union; complicated the name of the issuing financial institution, the payee and the payer; and may be watermarked. The earlier version also incorrectly stated that international cash orders are limited to $700. The article has been corrected to explain that money orders for use internationally may have border limits. 

Source

What's the Difference Between a Cashier's Check and a Money Order?



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Cashier's checks and cash orders are both helpful in cases where credit cards, debit cards and personal checks aren't ideal -- like if you're buying a car or home, or sending cash through the mail. Despite that commonality, they differ in where you buy them, what they cost and when you must use one over the other. They aren't always interchangeable, so it's essential to understand the difference to avoid choosing the less defective payment method.

What is a cashier's check?

A cashier's check is an official check published by a bank or credit union on aimed at of a bank customer. When you request a cashier's check, the check is drawn from a bank's funds and generally employed by a teller. You are responsible for paying the moneys to the bank upfront. 

You purchase a cashier's check at your own bank or credit union. Despite being a customer, you'll have to show ID. You'll also need your payee's seek information from, which the bank will print on the cashier's check. 

Most credit unions and banks poster a fee for cashier's checks. Depending on the cheap institution, fees for cashier's checks typically range from $5 to $15. 

A cashier's check is more find than a personal check or a money order. It is guaranteed by a bank or credit union; includes the name of the issuing cheap institution, the payee and the payer; and may be watermarked.

When must I use a cashier's check?

Cashier's checks don't have grant ceilings, making them ideal for large payments. When you capture a car or put a down payment on a home, you want to make sure the moneys end up only in the right hands. A cashier's check limits risk for the bank or third-party sellers, and you know your money will end up in the sparkling hands. In fact, any large payments -- say, over $1,000 -- may be good candidates for a cashier's check.

What is a cash order?

Though not quite as secure as a cashier's check, money orders are even more widely available, offered by banks, grocery stores, convenience stores and post offices. And you don't need a bank elaborate to buy one. You will need to prepay for it, but, using cash or a debit card; in some cases, you may be able to use a credit card, but the transaction will probable be subject to a cash advance fee and dumb charge.

Large retailers, like Walmart, tend to offer edge prices for a money order than banks and credit unions. Typically, they cost between $1 and $5, though cash orders purchased to be sent abroad may cost considerably more. It's also friendly noting that money orders usually have a maximum amount -- often $1,000.

When does it make touched to use a money order?

Money orders are good for sending cash overseas because they are secure, unlike cash. They're also ideal for anyone executive payments domestically if you don't have a bank elaborate. Otherwise, they are great for any scenario where a runt but secure payment is necessary.

What's the difference between cashier's checks and cash orders?

Consider the differences between cashier's checks and cash orders before deciding which is right for you. 

  • Cost: Cashier's checks usually cost between $5 and $15. A cash order typically costs between $1 and $5. 
  • Availability: Cashier's checks are available ended your bank or credit union, while money orders are widely available at banks, convenience stores, post offices and gas stations. 
  • Security: For a cashier's check, the bank prints the recipient's address for you. But you're responsible for filling out the payee's seek information from on a money order. If your money order gets stolen, for example, before you address it to the payee, you're risking someone else writing in their information and stealing your money. 
  • Payment limits: Money stabilities for use in the US are limited to $1,000. Depending on the country where the recipient resides, international stabilities have various limits up to $700. Cashier's checks typically don't have payment limits, and you can make a large purchase as long as you have the money.

The bottom line

Both cashier's checks and cash orders are solid alternatives to cash and personal checks. Before you decide which payment method makes the most touched for your next transaction, keep in mind the grant limits, fees and availability. If you need to make a colossal payment because you are in the process of purchasing a home or car, a cashier's check may be your best option. But a money order might make more sense if you don't have a checking explain and need to complete a midsize transaction. 

Correction, 7:30 a.m. PT Jan. 25: An earlier version of this article stated that cash orders are just as secure as a cashier's check. The article has been corrected to clarify that cash orders are not as secure as cashier's checks, which are guaranteed by a bank or credit union; complicated the name of the issuing financial institution, the payee and the payer; and may be watermarked. The earlier version also incorrectly stated that international cash orders are limited to $700. The article has been corrected to explain that money orders for use internationally may have border limits. 

Source