Consumer Fraud Alert

Beware of Fake Cashier’s Checks

There has been an uptick in consumer scams involving fake cashier’s checks. Here’s how it works and how you can protect yourself:

How it works:

  • A fraudster may offer to purchase a product or service from you with a cashier’s check from what looks like a reputable bank or credit union that is in excess of the purchase price. The fraudster then directs you to deposit the check and return the excess funds by cash or wire transfer.  He or she may even offer to pay you a fee for your trouble.
  • You deposit the cashier’s check, and your financial institution credits your account the next day because the check looks legitimate. However, the check may take several days to clear and it can be returned days later if it’s found to be fraudulent. If this is the case, the funds will be withdrawn from your account and you will be out the money that you sent in good faith to the fraudster.  offer or employment

How to protect yourself:

  • Never accept a check that’s more than the amount you agreed upon.
  • Never agree to deposit a cashier’s check and then wire proceeds or send cash immediately to a third party.
  • If you must take a cashier’s check, wait at least two weeks before sending money or merchandise.

Unfortunately, fraudsters are becoming more adept at creating fake cashier’s checks that look legitimate. Protect yourself by being vigilant and watching for situations that sound too good to be true or a little suspicious:

  • You are offered a purchase price well above what a typical product or service would cost, or you are offered employment at well above the going rate
  • You are offered a generous fee to wire proceeds of a cashier’s check immediately
  • You are asked to deposit a cashier’s check and wire the entire amount to help provide for a sick relative


If you have concerns about a cashier’s check, please let us know so that we can work together to ensure it’s legitimate. We can be reached at 508.228.0580 or stop by your nearest Nantucket Bank branch.