How to Cancel a Stolen, Lost or Unused Cashier’s Check
Can I Put a Stop Payment Order on a Cashier’s Check?
By Ashley Donohoe, MBA Updated Oct 17, 2022
How to Cancel a Stolen, Lost or Unused Cashier’s Check
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Similar to certified checks and money orders, cashier's checks are popular since they offer assurance to the payee that personal checks can't provide. They're considered the most secure checks as they're backed by money in the actual bank's account. The Office of the Comptroller of the Currency (OCC) explains this extra security makes it hard to issue a stop payment order on these checks. However, you can follow different processes to cancel the check in situations where it's unused, lost or stolen.
How to Cancel a Stolen Cashier’s Check
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If you're a victim of a cashier's check scam or another type of theft, you can follow certain steps to try to recover the funds.
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- Consider reporting it to law enforcement: The OCC recommends filing a police report about check fraud so that you have evidence to back up the claim with your bank.
- Gather important check information: You should find your cashier's check receipt. You'll want to know the account number used to purchase the check, check number, check date, amount of the check and the payee's name and contact details.
- Fill out documentation with the issuing bank: Whether you visit a local branch or check on your bank's website, you'll fill out a declaration of loss form for the cashier's check. According to Synchrony Bank, this asks for information about you, the payee and the check itself, and it has you explain that the check was stolen. Multiple signatures and notarization may be required along with a police report copy. The form should say how long it will take and how you'll get the money back.
- Obtain an indemnity bond (if needed): The bank doesn't want to risk paying out twice for the check, so it will hold you financially responsible if this happens. You may need to find an insurance company to get an indemnity bond for the exact amount of the check; this involves paying a percentage of the check amount.
- Wait for the money: The OCC says it can be up to 90 days before you get a replacement check or refund even if you have an indemnity bond.
