If a cashier’s check is not cashed the bank can refund the money to the payer or issue a new check in case the payer requests it.
Do you have a cashier’s check that hasn’t been cashed yet? Then you might be wondering, what happens if a cashier’s check is not cashed?
Actually, the answer depends on who has the check in possession. That’s why in this post on, what happens if a cashier’s check is not cashed, I will describe every possible scenario that might happen. Moreover, I will also talk about getting the check money refunded. So, stay with me.
First, let’s find out How long can you keep a cashier’s check without cashing it?
Find out what happens if you lose a cashier’s check
How Long Can You Keep A Cashier’s Check Without Cashing It
It completely depends on the bank it was purchased from. Because different banks provide different expiration dates for cashier’s checks. However, the most common expiration date for a cashier’s check is 90 days.
Usually, banks decide the expiration date for their cashier’s check. Some banks even offer cashier’s checks with different expiration periods. As a result, you get the option to choose a check with the most optimal expiration date for your use.
Typically, the expiration date for a cashier’s check ranges between 60- 180 days. Although, the 90-day period is the most common. But there are a large number of cashier’s checks with less or more expiration dates than 90 days. Some cashier’s checks don’t even have any expiration date. This means they can be cashed years after the purchase.
Keep in mind that, the expiration date of a cashier’s check is written either at the back side of the check or at the below side of the check. Moreover, it is valid from the day it is purchased. So, what happens if a cashier’s check is not cashed?
What Happens if a Cashier’s Check is Not Cashed
Depending on who the check has, the bank on request by the party can either issue a new check or refund the money to the payer’s bank account. In both cases, the bank might charge a small fee.
Cashier’s checks are one of the safest forms of payment. Because it’s non-negotiable, non-disputable, and payment guaranteed. This means the recipient can cash the check with proper documents anytime no matter what the circumstances are.
However, the situation changes if the check is not cashed within the expiry date. Because only the payer can get a refund of the check or request for a new check, not the payee.
As a result, if a cashier’s check is not cashed and the check is in possession of the payer then he can make the check void by following the bank policy and get a refund. Moreover, the payer can also request a new check from the bank.
Also, check how to return a cashier’s check and get a full refund
Keep in mind that, for both issuing a new check or getting a refund, the payer must present the original check to the bank. But what happens if a cashier’s check is not cashed by the recipient?
What Happens If A Cashier’s Check Is Not Cashed By The Recipient?
The recipient has fewer options available if a cashier’s check is not cashed. Because an expired cashier’s check can not be cashed in most banks and the recipient can not get a new check on his/her own.
However, the receipt can try to cash it at the check issuing banks. Because some banks might accept an expired cashier’s check. Moreover, the recipient can also request the payer to issue a new check. Otherwise, the bank might refund the check amount to the payer’s account.
So, if you are the recipient of a cashier’s check then cash the check as soon as possible.
On the other hand, if the cashier’s check has no expiration date then the recipient can cash the check as long as the issuing bank exists. The payer can also get a refund by voiding the check as long as the bank exists. So, How do I get my money back from a cashier’s check?
How Do I Get My Money Back From a Cashier’s Check
Getting your money back from an expired cashier’s check is quite easy. Here is how to do it
- Go to the bank branch you have purchased it from with the original check.
- Explain to a bank teller about your situation.
- Show them your check and a valid ID.
- The bank teller will provide you with some options for getting a refund.
- Choose an option and wait for the money to arrive in your account.
Usually, banks take less than 30 days to refund you the money. You might need to provide some additional documents and fees depending on the bank policy.
By now we have found out the answer to what happens if a cashier’s check is not cashed. Now let’s look at some of the related queries.
FAQs
Here are some of the frequently asked questions related to this topic.
Can You Get Money Back From Uncashed Cashiers Check?
Yes, it is possible to get your money back from an Uncashed Cashier’s check. However, the check must be in your possession. If the check is in the possession of the recipient or lost then you will need to wait for the expiration period of the check to get your money back.
Can you cancel a cashier’s check if it hasn’t been cashed?
Yes, it is possible to cancel a cashier’s check if it hasn’t been cashed. The check must be in your possession to cancel anytime. Otherwise, you need to wait till the check expires then you can cancel it.
What Happens If A Cashier’s Check Is Not Cashed In 90 Days?
In case the cashier’s check has a 90-day expiration date then the check will become invalid. Only the payer can either issue a new check or request a refund.
In Summary
Although, Cashier’s checks are quite safe. However, canceling a cashier’s check or cashing out an expired cashier’s check can be difficult and time-consuming. So, if you are a recipient then cash it as soon as possible. On the other hand, if you are a payer then cancel the check and get a refund before it expires.
