Cashier's Check Purchase-Put Name as Remitter?

Answered by:

Question:

When a customer is purchasing a cashier's check, can they put any name as remitter?

Answer:

Unless governed under State law, that is a bank policy issue. I have seen a number of scams involving loan pyramiding through various individuals/companies where one person would buy cashier's checks with different remitters to make it look like they were paying their own loans.

First published on BankersOnline.com 7/30/12