Most people tend to confuse a personal check with a cashier’s check. – but they are different. Unlike a personal check, a cashier’s check is issued and guaranteed by Bank of America. Hence, the cashier’s check will be less likely to bounce or otherwise be invalid.
Now, the question is, how can you verify Bank of America cashier’s check? Let us clarify this check can be verified in several ways. Visit the bank and ask for your cashier’s check verification. Moreover, you can verify it from Bank of America’s official website.
Account holders can also call the issuing bank for check verification. Why should you verify the chaser’s check? Sometimes, you might receive a fraudulent cashier’s check. Accepting such a check in exchange for goods or services can lead to financial loss.
So, be aware of the cashier’s check scams by verifying it from the issuing bank beforehand. Otherwise, fraudsters can access your bank details and withdraw money without your acknowledgment.
Let’s get to know the easy ways to verify a cashier’s check:
Bank of America Cashier’s Check – What Is It & What is the Deposit Fee?
You must know what a cashier’s check is before you learn the steps to verify it. As the name implies, it is an official check which is signed by a cashier. The cashier’s check is different from a certified or credit check.
People mostly use it when they can’t purchase products using a credit or debit card. Though some financial institutions let you issue cashier’s checks even without creating an account, Bank of America issues them only to their account holders.
Moreover, you might have to pay $15 as a cashier’s check fee at Bank of America. However, the fee amount might vary depending on the account type you have. Creating a fake Bank of America cashier’s check is easy, So, many use them for check scams, which you must avoid by knowing the verification process.
Easy Steps to Verify a Cashier’s Check in Bank of America
There are a few precautions you must take to verify if the cashier’s check is legitimate. Don’t call the number listed on the check before contacting the Bank of America. Fraudsters can print a fake customer service number. So, we recommend checking your bank’s number with a Google search.
Here are the other steps you must take to verify the cashier’s check:
1. Never Accept the Checks with Higher Amounts than Required
Does someone overpay you for an online purchase? It can be a cashier’s check scam. So, don’t accept the check if you sell something and receive more than the product’s actual price.
For instance, you might have a buyer who resides outside the U.S. If the person sends a cashier check and asks you to refund 2x money, accepting it might be risky.
Besides, Federal Law takes weeks to indemnify a fake cashier’s check. By that time, the fraudulent buyer will be hard to find. Do you know what the worst part about depositing a fraudulent cashier’s check is? The Bank of America will hold you liable for the fake check deposit.
2. Check the Cashier’s Check Details
Bank of America’s cashier’s check has a distinct feature. You will see what to look for in the check before depositing it to the bank authorities. For instance, you might have to check if there is a watermark or microprint behind the check.
The check might be invalid or fake if it has no watermark signs. Typing errors are another sign that indicates you have a fraudulent check. Most fake cashier’s checks come from senders who live overseas.
Here are the details that you must look to verify if the cashier’s check is legit:
- Bank name
- Account number
- Date of issuing the check
- Postal code
- Name of the person who sends you the check
- Amount
- Authorized signature
3. Contact the Bank of America
Identifying a fraudulent check by only checking the watermarks or overpaid amount can be difficult. Thus, you must visit or dial the Bank of America’s customer support number. The bank executives will help you to verify if the cashier’s check is legit or a scam.
Do you have any Bank of America branches near you? Take the cashier’s check into the bank and ask them to verify it. They will undergo a set of processes for check verification. Moreover, you don’t have to pay any additional charges for verifying the cashier check’s legitimacy.
Look for the Bank of America’s customer support number if you can’t visit the bank. Call them, and they will ask you for these details to verify the cashier’s check:
- Payment amount
- Check number
- The date of issuing the cashier’s check
Common Cashier’s Check Scams that You Must Avoid
Overpayment is not the only sign that helps you to detect cashier’s check scams. There are other scams that you must watch out for to verify the Bank of America’s cashier’s check:
1. A Letter with a Winning Lottery Amount
Did you receive a letter announcing that you’ve won the lottery? Don’t share it with anyone – it can be a scam. Besides, you might ask to pay a lump sum amount of money to get the winning price.
The letter might further explain that you will receive a cashier’s check which will cover the paid price. Afterward, all you have to do is deposit the check into the bank to collect the lottery prize. If you follow these tapes, your bank will eventually notify you that the check is invalid and fake.
2. The Buyer will Buy the Item using Cashier’s Check
The buyer will send you the Bank of America’s cashier check to pay the price of your product. After you receive the check, you might deliver the item. However, you won’t receive the product price even after depositing a cashier’s check if it is fake.
3. A Letter with a Mystery Shopper Message
Do you know what a mystery shopper does? The person visits the retail stores or bank branches to check their service quality. Though it is a legitimate way to earn some extra cash, mystery shopping companies don’t send letters.
The most valid point is that they don’t send cashier’s checks to anyone. Thus, if you receive a letter stating that you have been chosen as a mystery shopper, consider it a scam.
Another sign to identify a fake cashier’s check is that you will see instructions on the letter to deposit it at the mentioned bank branch. Besides, you will be asked to buy some items with the funds to become a mystery shopper. So, be aware of these scams to save your money from fraudsters.
What Should You Do If You Receive a Fake Cashier’s Check?
Visit the nearby Bank of America branch if you’re a victim of a cashier’s check scam. Talk to the bank manager, and they will help you to resolve the issue. Additionally, you should report it to the Federal Trade Commission.
We would advise you to report the cashier’s check scam to your state’s attorney general. Did you receive the Bank of America cashier’s check via email? Reporting about the scam is essential to the United States Postal Inspection Service.
