Cashier's Checks & Money Orders
Available for members to purchase at Interra.
Cashier’s Checks
- Cashier’s checks provide guaranteed funds and have increased security features over traditional checks.
- The fee is $8.00 per check.
Money Orders
- Money orders have increased security features over traditional checks.
- Maximum amount of $1,000.
- The fee is $6.00 per money order.
Which is better, a cashier’s check or a money order?
Cashier’s checks are a better option for larger or infrequent purchases, or in cases where the individual accepting the payment requires more credibility and security. Money orders can be used for smaller amounts when individuals prefer the security of a money order over a personal check, such as an online or overseas purchase that requires physical payment.
What's the difference between a cashier's check and a money order?
Cashier’s checks are considered a more credible payment due to the fact that they are drawn on and guaranteed by a financial institution account. Most institutions limit the amount for which money can be written ($1,000), whereas cashier’s checks do not.
How does a cashier’s check work?
Cashier’s checks are funded with cash or deposits from your Interra account, or from the disbursal of funds for a loan. After purchase, Interra will fill in the name of the recipient, as well as your name. You then present it for payment like any other check.
How does a money order work?
Unlike regular checks, money orders are prepaid and funded with cash or deposits from your Interra account. After purchase, you will fill in the name of the recipient, as well as your name. You then present it for payment like any other check.
