Surety1 Will Help to Replace Your Stolen or Lost Checks
Have you lost a cashier’s check? Or, perhaps you suspect that one of your checks has been stolen? Surety1 can eliminate this crisis with a Lost Cashier’s Check Surety Bond. When your bank is playing hardball, we will work with you so you can meet their requirements and quickly neutralize a frustrating situation.
What is a Lost Cashier’s Check Surety Bond and why do I need one?
A Lost Cashier’s Check Surety Bond is a type of indemnity bond designed to protect your bank from economic loss. It’s important to realize that, in some states, when you lose a cashier’s check, a bank cannot issue a new one (or place a stop payment on a cashier’s check) without a lost instrument bond. If an individual found or stole your check, the bank may still cash it since the check in question is still guaranteed by your very own bank. In this sense, a found or stolen check is as good as cash in hand; this is the reason a bank may request a Lost Cashier’s Check Surety Bond because they are assured that the surety company will reimburse them for the loss.
How do I get a Lost Cashier’s Check Surety Bond and how much does it cost?
Because this is a fairly common occurrence, Lost Cashier’s Check Surety Bond are easy to obtain. Given that the bond fee is 2% of the bond amount, they are also relatively inexpensive. However, there is a minimum of $100, and if the lost cashier’s check was over $25,000, a credit check is required and your fee might inflate. The cashier’s check must be lost for at least 30 days, and the cashier’s check should not have been endorsed. In a state that doesn’t have The Uniform Commercial Code (UCC) section 3-312, you may not need this type of bond to resolve your issue.
Please verify that your bank will accept a surety bond before applying.
To apply, fill out our easy-to-use application form and Surety1 will work quickly to obtain your Cashier’s Check Surety Bond. We’ll follow up with a firm quote, and once you provide payment and your signed agreement, you will receive your bond!