Can anyone cancel a cashier's check? Or only the person who ordered it?
June 2, 2022 12:06 PM Subscribe
My friend mailed me a cashier's check. However, the name is misspelled so I can't cash it. She drew it from her account at a bank with branches all over the country. Can I go to my local branch of her bank and cancel it, or do I have to mail it back to her so she can do it?
In the past I have deposited money in friend's accounts without being asked for an ID or anything, so I'm wondering if canceling a cashiers check is more like that or more like a withdraw or balance check where only the account owner can do it.
On the check it says if lost there is a 90 day waiting period for the money to be returned, so I'd like to avoid another chance for it to be lost or delayed in the mail.
The name misspelling is bad enough that my bank won't cash it, I've already tried twice.
In the past I have deposited money in friend's accounts without being asked for an ID or anything, so I'm wondering if canceling a cashiers check is more like that or more like a withdraw or balance check where only the account owner can do it.
On the check it says if lost there is a 90 day waiting period for the money to be returned, so I'd like to avoid another chance for it to be lost or delayed in the mail.
The name misspelling is bad enough that my bank won't cash it, I've already tried twice.
Have you tried to see if _her_ bank will either A) cash it or B) replace it with one with the correct name, with her on the phone to verify she made the error?
One tip that works for me: when going into a bank for a "situation" and they ask "Can I help you?" I say "I'm hoping you and I can work together to resolve this problem I have. I'm not sure exactly what to do, so I came here hoping you experts can help". It somehow seems to make it less of a "me vs. big bank" situation
posted by TimHare at 1:11 PM on June 2, 2022 [2 favorites]
One tip that works for me: when going into a bank for a "situation" and they ask "Can I help you?" I say "I'm hoping you and I can work together to resolve this problem I have. I'm not sure exactly what to do, so I came here hoping you experts can help". It somehow seems to make it less of a "me vs. big bank" situation
posted by TimHare at 1:11 PM on June 2, 2022 [2 favorites]
Best answer: The only person who can cancel the cashier's check is the purchaser, since a cashier's check is technically a contract between the purchaser and the bank: I give you $$$$, you give me cashier's check backed by this money I can then send to payee for deposit. Basically, purchaser gets the cashier's check back, then deposits back into his/her account as "unused cashier's check".
On the other hand, if the bank the check's drawn on has a branch in your city, it may be possible to get your friend, at his/her local branch, talk to someone at YOUR local branch, to get the check reissued with the corect name. Having your friend at a branch verifies the identity instead of just over the phone, but is obviously harder to coordinate, and depends on how much leeway the local branch manager has to make you happy, who's technically not a customer. And this is again, a "maybe". If their internal procedures calls for "get the check back, cancel it, then issue a new one", then that's what had to be done.
Keep in mind that it MAY be easier to send money via Zelle (between different personal accounts) and pay the fee, since most cashier's checks cost $15-20 fee, then they have to mail you the check which costs more.
posted by kschang at 2:31 PM on June 2, 2022 [3 favorites]
On the other hand, if the bank the check's drawn on has a branch in your city, it may be possible to get your friend, at his/her local branch, talk to someone at YOUR local branch, to get the check reissued with the corect name. Having your friend at a branch verifies the identity instead of just over the phone, but is obviously harder to coordinate, and depends on how much leeway the local branch manager has to make you happy, who's technically not a customer. And this is again, a "maybe". If their internal procedures calls for "get the check back, cancel it, then issue a new one", then that's what had to be done.
Keep in mind that it MAY be easier to send money via Zelle (between different personal accounts) and pay the fee, since most cashier's checks cost $15-20 fee, then they have to mail you the check which costs more.
posted by kschang at 2:31 PM on June 2, 2022 [3 favorites]
Response by poster: For anyone finding this from search:
I went to a branch of her bank and learned that kschang is correct: you don't cancel the cashier's check, you deposit it into your account by endorsing and writing "not used for intended purpose".
If the check is already endorsed in this way you can deposit into a friend's account.
posted by hermanubis at 11:27 AM on June 6, 2022
I went to a branch of her bank and learned that kschang is correct: you don't cancel the cashier's check, you deposit it into your account by endorsing and writing "not used for intended purpose".
If the check is already endorsed in this way you can deposit into a friend's account.
posted by hermanubis at 11:27 AM on June 6, 2022
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posted by so fucking future at 12:27 PM on June 2, 2022