Golden 1 is a credit union based in California and it has over 70 branches in the state with several banking and financial services for its customers.
You can easily purchase a cashier’s check at any Golden 1 credit union branch for $6 per check. Alternatively, you can also use a money order or a personal check.
Let us discuss what is a cashier’s check at Golden 1, fees, limits, requirements, and more.
Cashier’s Check at Golden 1
Like other credit unions, Golden 1 offers cashier’s checks to its customers. These checks are available at over 70 branches in California during banking hours.
You can use a cashier’s check to make payments when you need a guaranteed payment instrument. It is a convenient alternative to money orders, personal checks, and bank drafts.
A cashier’s check is a safer and more reliable payment instrument. It is useful when making larger payments like a down payment for a house mortgage or car purchase.
You must be an account holder of Golden 1 to purchase a cashier’s check if you want to pay through your account. Else, you must bring cash to the counter and pay for the cashier’s check amount and the charges.
How to Order a Cashier’s Check at Golden 1?
You can order a cashier’s check at Golden 1 in a few different ways. However, you’ll need to visit a branch to collect it.
If you are paying through your account, you’ll need to provide the following to the cashier:
- Your account number and title
- Check amount
- Payee’s full name
- Bank drawn on (if required)
- A completed application form for a cashier’s check
You may pay by cash for a cashier’s check at the counter if you don’t have sufficient balance in the account.
At a Branch
The easiest option for you to get a cashier’s check at Golden 1 is to visit a branch. You can fill out the cashier’s check form there in a few minutes.
Either provide the account details or pay by cash for the check amount. The teller will then process your application and prepare the cashier’s check.
Make sure the check is signed by one or two authorized officers from Golden 1 before sending it to the payee.
Mobile App, Online Banking, or Phone
You can access Golden 1 online banking through its online portal. The online banking portal provides several accounts and money transfer services.
Although you can place an order for a cashier’s check online at Golden 1, there is no official information on whether they can deliver the check to your postal address.
So, the safest option for you is to order a cashier’s check by using online/mobile banking or by phone and collect it from the nearest Golden 1 branch.
Cashier’s Check Fee at Golden 1
The fee for a cashier’s check at Golden 1 is $6 per check which is fairly competitive as compared to other credit unions and commercial banks.
Moreover, the cashier’s check will be free for you if:
- It is payable to yourself
- The payee is a consumer credit counseling firm
- The payee is a title company (for yourself)
The fee for stop payment of a cashier’s check is $25 per check. It will be the same even if the check issued was originally named for yourself or a title company.
Golden 1 prestige account holders can enjoy up to 10 cashier’s checks per month for free. However, they must qualify and fulfill the requirements for a prestige account at Golden 1 credit union.
What is the Limit of Cashier’s Check at Golden 1?
Golden 1 does not state the maximum limits for a cashier’s check officially. We can assume that it would issue a cashier’s check through its branch banking without any limits.
However, you may face transaction limits for a cashier’s check when ordering through mobile or internet banking.
Similarly, we can assume the maximum limit may match the external fund transfer limit of Golden 1 which is set at $10,000 per transaction and week.
The limit for issuing the maximum number of cashier’s checks is also unknown. Prestige account holders can issue up to 10 cashier’s checks for free per month.
Thus, we can assume there shouldn’t be any restrictions on using a total number of cashier’s checks per month.
What are the Delivery Options for Cashier’s Checks at Golden 1?
As mentioned above, Golden 1 does not provide complete information on how it can deliver a cashier’s check to its customers.
It is more likely that it would only deliver cashier’s checks through its local branches. So, even if you are ordering a cashier’s check by phone or mobile banking, you’ll have to collect it through a local branch near you.
How to Report a Lost or Stolen Cashier’s Check at Golden 1?
The safest option for you to report a lost or stolen cashier’s check is to contact your Golden 1 branch by phone.
You can contact the branch where you opened the account or ordered the cashier’s check. You must pay a $25 fee for a stop payment of a lost or stolen cashier’s check per incident.
If the lost or stolen check was issued to a third party, you must contact the payee and confirm the check status first. Then, report it to Golden 1 credit union for further security.
In some cases, Golden 1 may ask you for proof or a copy of the lost cashier’s check as well. Also, most credit unions ask for indemnity bonds as insurance cover for issuing a second cashier’s check as a replacement.
Please note that canceling a lost or stolen check may take up to 90 days and the amount may not be returned to your account immediately.
Cashier’s Check v Money Order at Golden 1
A money order is a similar payment instrument to a cashier’s check. However, it is much easier to purchase a money order than a cashier’s check generally.
Golden 1 charges $5 for a money order and you can get it from any branch or order online. So, it is a cheaper and more convenient option to make smaller payments when the payee does not accept a personal check.
Cashier checks are safer options as compared to money orders. Therefore, most dealers prefer receiving a cashier’s check with guaranteed payment over a money order.
Finally, the cancelation of a money order is easier as compared to a cashier’s check. Although the applicant prepays both types of instruments, they provide different levels of security for both parties in a financial transaction.