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Home >> Checks/Money Orders
I lost a Cashier's Check; What Now?
I lost a cashier's check in the mail. What do I have to do with my bank? After I file a claim at my bank, any thief can cash it if they have it.
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 Contact the issuing bank at once, and arrange to file a statement under oath that the check was lost, and a claim for reimbursement, if you are the purchaser or the payee on the check. The law provides a 90-day waiting period before the bank must honor the claim. During that time, if the original check is presented for payment by someone entitled to do so, the bank will have to honor the check, and will deny your claim.
If, however, the check is not presented within 90 days from the original check's issue date, your claim will mature and the bank should pay you. Thereafter, if the original check is presented for payment, the bank may refuse payment. At that point, the bank steps out of the picture as far as liability is concerned, and the holder of the original check, if entitled to payment, will look to you.
If the original check is presented and paid during that 90-day waiting period, but it can be proven that an endorsement on the check was not genuine or authorized (if the check was stolen from the mail and the payee's endorsement forged), the bank will be able to make a claim for reimbursement from the financial institution that took it for deposit or cashed it. That's how the possibility of theft is addressed by the law.
Published on BankingQuestions.com 9/04/08
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