which bank is more friendly to get cashiers checks? i understand i need to make it out to myself first and endorse it to the trustee after winning the bid. do all banks allow their customers to do this? also i may need to get different amount of cashiers checks for the auction, which bank provides the service to issue several cashiers checks per day for free? thanks.
From my experience it depends on your relationship with your bank. Helps a lot if you can bring significant deposits or business to the bank. Helps more to have a personal relationship (church, kids, sports, Lions Club, etc).
I might add that I’ve seen smaller regional banks more flexible on this issue.
I like to know, what Is the name spouse be on a cashier check?.
Thanks.
Many investors make the cashiers check out to themselves and then endorse it over to the appropriate party if they are the successful bidder. This makes it easier to redeposit if you do not use the funds.
Talk to your bank about the best way to “return” checks. If you are taking cashiers check from a line of credit it may be better to bring them back the same day and have them cancel the transaction… in this case they usually mark the checks “not used for purpose intended”. This may keep you credit line from ever appearing to have been drawn upon saving you interest.