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7 months ago · by · Comments Off on Lost Cashier’s Check

Lost Cashier’s Check

Losing a cashier’s check can be a stressful situation, especially considering your bank cannot simply issue a stop-payment like they could for a regular check.  Instead you must go through the process of reporting the lost money order to the bank or institution that issued it for you, and then finding a way to guarantee that they will not be out the money should they reissue it for you and it later turns up.  In order to accomplish this you may need to purchase what’s called a “lost instrument bond,” which acts as a financial guarantee protecting the issuing bank and ensuring that you would be financially accountable if this were to happen.

How much will it cost?

A Lost Instrument bond will have a minimum price of $100 but if the lost item was for more than $5,000, it will be $20 for every $1,000.  Answer the 2 questions below for an instant quote.

 

A lost instrument bond is often purchased for the following items: a bank draft, cashier’s check, certificate of deposit, certified check, common stock, drafts, interest-bearing government securities, interest-bearing securities, official check, preferred stocks, trust deeds/notes.

If the value of the lost item is below $10,000 we can usually issue it on the spot.  If the value is between $10,000 and $50,000 your eligibility for the bond will be based on your credit, and if the value is above $50,000 you will also need to provide financial statements to verify eligibility.

To proceed with the process of purchasing your bond, bring the copy of the check and/or any other documentation given to you by the issuing authority when you reported it lost to our office at 6152 E 22nd St.  We are open 9-5 Monday-Friday.

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