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Illinois Lost Cashier's Check Bond

December 5, 2018

An Illinois lost cashier's check bond may be required by a bank or credit union to replace a cashier's check. AmeriPro Surety Bonds offers this bond: 844-589-9732.

Illinois Lost Cashier’s Check Bond

AmeriPro Surety Bonds | 844-589-9732




Lost Cashier’s Check




If you have received or purchased a cashier’s check in Illinois and subsequently lost the check, the issuing bank or credit union may require a couple of things.

  • They may according the UCC Section 3-312 require you to wait 90 days before they will accept a declaration of loss and reissue a replacement cashier’s check;


  • They may require you to obtain a lost cashier’s check bond, in which case you may or may not have to wait 90 days.



Illinois Lost Cashier’s Check Bond: The Purpose




A cashier’s check straddles two parts of the financial world.

There is the convenience of a cash-equivalent instrument on the one hand; and there is the fact that the cashier’s check is designated to a certain individual or entity on the other.

A lost cashier’s check poses a financial conundrum for the issuing bank.

There is the possibility that in issuing a replacement cashier’s check, the original check will be located and cashed. This would result in the banking institution paying on the same money instrument twice.

To eliminate that risk, the bank or credit union has asked you to obtain a lost cashier’s check bond.

The purchase of the lost cashier’s check bond does several things.

  • One, it makes the banking institution comfortable in reissuing you a second replacement cashier’s check;
  • Secondly, it protects the bank from the resultant financial loss if the original check is subsequently discovered and cashed.

If the latter scenario occurred, the bank is protected by the existence of the surety bond.

However, the surety bond is not an insurance policy for you as its purchaser (in surety lingo, you are “the principal” or “the obligor”).

Should the lost cashier’s check reappear and be successfully cashed, while the bank can file on your lost cashier’s check bond and recoup the loss, you in turn are legally liable to repay the surety for all costs and fees involved in the payment of that claim.




Illinois Lost Cashier’s Check Bond: The Amount Required




The amount of the lost cashier’s surety bond you will be required to purchase will be determined by the issuing bank.

Any written documentation that the bank will provide you (you may request this of them) will be helpful and sometimes needed in the underwriting of your lost cashier’s check bond.




Illinois Lost Cashier’s Check Bond: The Premium And Duration




The premium for an Illinois lost cashier’s check bond is surprisingly low cost.

However, the premium will be determined by several factors:

  • The amount of the lost cashier’s check surety bond you are required to purchase;
  • Information provided as part of the application process;
  • And, most significantly, a standard credit check.

As an example, someone who is required to purchase a $20,000 lost cashier’s check bond with good credit may pay a onetime premium fee of just $400.

The same person who is required to obtain a $50,000 cashier’s check bond may have a premium of just $1,000.00.

The premium is a onetime payment and the lost cashier’s check bond is active for 5 years from the date of issuance.




About Our Agency




AmeriPro Surety Bonds is a surety bonds-only agency.

We provide license and permit, contractor, and fiduciary bonds --- including the lost cashier’s check bond --- throughout Illinois and nationwide.

We know you have choices for your surety agency (and, admittedly, very good choices!) so we are particularly honored that you have chosen to work with us.

Please contact our agency for your Illinois lost cashier’s check bond today at







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