I received a check from a legitimate bank. I think that it is possibly stopped. It is in the amount of $4500. I am not one hundred percent sure whether it will clear or not. Am I permitted to simply deposit it to my Visa account? Am I permitted to simply deposit it to my checking account?
I am not a criminal. I have no intention of going to a shady check cashing organization. I just happen to be a poor student. This check almost seems like manna from heaven. The check itself is from a legitimate bank, but whether it will clear, I have no idea.
What is the worst that could happen? A $20 penalty for a bounced/stopped check?
You are clearly concerned that the check may not be worth anything. If it isn't, the consequence could be more severe than a $20 bounced deposit fee. The bank could decide that it doesn't want to do business with you any longer, and ask you to close out your account. If you draw down any of the funds before the check is returned unpaid, you could end up overdrawn and faced with the need to cover the overdraft quickly.
If you are at all unsure that the check will be paid, pay to have your bank forward it for collection. In that way you will know if there is a problem before risking your account.
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You are clearly concerned that the check may not be worth anything. If it isn't, the consequence could be more severe than a $20 bounced deposit 