Answer:
Not if the check was sent to the payee, unless the payee confirms that it never received it. The declaration of loss that's required to be signed under the penalties of perjury can only be made by the party (remitter or payee) who lost possession of the check, and it has to state that the loss of possession was not through transfer of the check or a lawful seizure. Once the remitter of the cashier's check sends it to the payee, and the payee receives it, the remitter can't make the declaration without perjuring himself.
If the bank accepted such a declaration and the receiver in this case challenges the non-payment of the cashier's check (the receiver has, in fact, stated that he will take action if a bank refuses payment on its cashier's or teller's check), a court could order the bank to pay the check, plus any costs incurred by the payee in trying to collect it from you. In addition, in the case you're asking about, it's likely that the cashier's checks are going to be deposited promptly (if they haven't been deposited already), so there's little likelihood any of the "lost, stolen or destroyed" claims would have a chance to become enforceable because 90 days won't pass after the date of the checks.
The first rule of cashier's checks, teller's checks and certified checks: There is no provision for buyer's remorse. In this case, which involves ZeekRewards.com, your best option is to refer your customers to the receivership's website, www.zeekrewardsreceivership.com, for information.
First published on BankersOnline.com 1/7/13
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