Wire Transfer vs. Cashier's Check for Closing Funds
Buyers typically deliver closing funds either by wire transfer or cashier's check, each with different speed, cost, and fraud-risk considerations that are worth understanding before closing day.
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Wire Transfer
Funds are electronically transferred directly from the buyer's bank to the title or escrow company's account, typically the most common method for closing funds today.
- Fast, typically available the same business day
- Widely accepted and expected by most title and escrow companies
- A specific target of wire fraud scams, where criminals impersonate title companies to redirect funds
- Small bank fee typically applies
- Wire transfers are generally difficult or impossible to reverse once sent
Cashier's Check
A bank-issued check guaranteed by the issuing bank, physically delivered to the closing, used less commonly than wire transfers today but still accepted by many closing agents.
- Physical instrument some buyers feel more comfortable handling directly
- Typically a lower or no fee compared to a wire transfer
- Slower — must be physically obtained from the bank and delivered in person or by mail
- Some title and escrow companies now discourage or limit cashier's checks in favor of wires
- Still carries some fraud risk, including counterfeit check schemes
Which one makes sense for you?
Wire transfer is the faster and more commonly required method today, but it's also the primary target for closing-related wire fraud, so verifying instructions directly with the title company by phone using a known, verified number before sending funds is essential. A cashier's check can still work where accepted, but is slower to arrange and less commonly used for typical closings now.
Key cost factors.
- What your specific title or escrow company requires or prefers
- Your comfort managing wire fraud precautions like verified callback numbers
- How much lead time you have before the closing appointment
- Local and lender-specific norms for accepted payment methods
Before you decide.
- What payment method does this title or escrow company actually require?
- What wire fraud verification steps does this company recommend before sending funds?
- How much lead time do I need to arrange either payment method?
Frequently asked questions.
How can I verify wire instructions are legitimate before sending funds?
Call the title or escrow company directly using a phone number you look up independently, not one provided only in an email, and verbally confirm the wiring instructions before sending any funds, since email-based wire fraud targeting closings is a well-documented scam.
All figures on this page are illustrative examples for general education, not quotes, appraisals, or guarantees of actual pricing. Actual costs vary by provider, location, project scope, and market conditions — always get a specific quote before making a purchasing decision.
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