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Home >> Checks/Money Orders
Bank Won't Cash Its Own Cashier's Check
I am a Chase bank account holder. I have a Chase certified cashier's check for $42,300. I wish to cash it. With me being a customer, and it being their check, do they have to cash it? Branch manager says I have to deposit it. I don't wish to deposit it, as that makes it not the same as cash. It holds, fees, set-offs, and God knows what else. I checked my account rules handbook and it says nothing about checking account restrictions. It does have saving restrictions. Please help.
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 We are not aware of any law or regulation that would permit your bank to refuse to cash its own cashier's check and instead require you to deposit it. It's certainly possible that the branch manager can't approve the cashing of checks over a certain limit, but that doesn't seem to be the reason behind the refusal.
The deposit of the check should make the funds available to you the next business day, as would a deposit of cash. The bank would not be entitled legally to place a hold on the deposit.
The bank's refusal to cash the check is strange. Its difficult to explain why its manager is adamant that you deposit it, unless you have a delinquent loan with the same institution.
Published on BankingQuestions.com 10/06/09
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