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Re-issue of Old Cashier's Check
I have a question concerning an expired cashiers check from South Carolina. It had a ninety day expiration date on it and it is now about two weeks past that. Due to life events and a move, I was unable to deposit the check up until this point. My local bank has said to see whether the issuing bank will reissue, but they were very doubtful. Can you please shed some insight on possibility of reissue? Whether South Carolina is one of the states where the bank has to contact the check-holder, and if neither of those are possibilities, is it possible to negotiate with the bank to pay a fee or a percentage of the check and get the rest back? (It was a payment for a car and is a substantial amount of money for me.)
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 Contact the issuing bank directly and explain your difficulty. In most cases, an indication on a cashier's check that it expires in ninety days is designed to encourage prompt negotiation of the check, and it's not truly an indication that the check will cease to be negotiable after three months.
It's likely that your bank will accept the check for deposit, but place a hold on it for up to eleven business days, with an indication that your bank has reason to doubt collectibility. If you don't have an immediate need for the funds, that may work well for you. If your bank won't accept the check for deposit, it may take it for collection. In that case, it will get back another cashier's check, perhaps with a deduction for processing fees by both banks. When that check is deposited, you should get next-day access to your remaining funds.
Published on BankingQuestions.com 10/23/06
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