Cashier's check for closing..

Anonymous · ‎07-23-2008

I am closing Friday and I have to have a cashier's check.. I was informed of the final numbers from the HUD statement yesterday. Now this may seem like a silly question but I've never bought a cashier's check before.. Does anyone know how much a cashier's check from Bank of America will cost me? I have an account with them but the money isn't in my account.. I have cash to pay for the cashier's check, because most of it was gift funds.. will I be able to buy the cashier's check with cash instead of money debited from my bank account? Thanks, Tim

Message Edited by timl1987 on 07-23-2008 08:34 PM

tcham54687 · ‎07-23-2008

If you have an "Advantage" or higher checking account, cashier's checks are free. Just picked one up 2 days ago. I'm not sure what the fee is if you have a different type of account.

Message Edited by tcham54687 on 07-23-2008 08:40 PM

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demi · ‎07-23-2008

I got one for my closing the other day, Wells "waived the fee", don't know if its cause I have checking or my mortgage is thru them, but obviously they would charge a fee it they think they can. I would imagine your bank would waive. Also the first time I ever got one.

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Anonymous · ‎07-23-2008

Thanks, I have a "My Access" checking and savings with BOA... can I use the cash on hand to get the cashier's check?

Anonymous · ‎07-23-2008

I had to get one a few months ago and even though I had the cash in hand, my bank would only give it to me if I did debit the money through my account. I thought that was insanely stupid. Anyway, I made a deposit and then got the certified check...

You may want to call in advance to see if you can get it without having to use money that is in your account with them...

Anonymous · ‎07-23-2008

Well, it really won't do me any good to call them because I have to go down there and get the cashier's check tomorrow morning.. so I may as well wait until I go down there. My only concern if they , if they make me deposit the money will it post quick enough to get a cashier's check right then? I can't wait until the next business day because my closing is at 9 am on Friday and my BOA branch doesn't open until 10 am.

Anonymous · ‎07-23-2008

timl1987 wrote:
Well, it really won't do me any good to call them because I have to go down there and get the cashier's check tomorrow morning.. so I may as well wait until I go down there. My only concern if they , if they make me deposit the money will it post quick enough to get a cashier's check right then? I can't wait until the next business day because my closing is at 9 am on Friday and my BOA branch doesn't open until 10 am.

That's why I was suggesting that you call, but if it's cash it may post the same day. I don't know, banks all have their own sets of rules. I'd go down there first thing tomorrow. This way you can figure out what to do next if it's not going to work out with them. Good luck.

ShanetheMortgageMan · ‎07-23-2008

timl1987 wrote:
Well, it really won't do me any good to call them because I have to go down there and get the cashier's check tomorrow morning.. so I may as well wait until I go down there. My only concern if they , if they make me deposit the money will it post quick enough to get a cashier's check right then? I can't wait until the next business day because my closing is at 9 am on Friday and my BOA branch doesn't open until 10 am.

Cash is instantly available upon deposit. Personal and business checks are a different story though.

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Watchmann · ‎07-23-2008

Cash is king, there is no holding period on cash. They may or may not have you deposit it first, depends on their policy. But you'll get your cashier's check on the spot. They may waive the fee, which usually is $10-$15. Either way it is small beer in the scheme of things.

Anonymous · ‎07-23-2008

Whew, thanks for verifying that for me. As you can see, I am still freaking out of every little thing. lol I won't feel safe until I have the keys in my hand , which won't be until Sunday night, even though I'm closing Friday.. because the sellers are staying through the weekend to finish getting all of their stuff out. Will let everyone know how my closing goes!! Thanks, Tim