|
 |
Home >> Checks/Money Orders >> Checks You Received
Requirements in Cashing Large Check
What are the requirements for cashing a check larger than $9,000? Is it possible to get immediate cash or are there some safeguards in place?
|
|
 Go to the bank the check is drawn on, present the check and your identification. If your bank is different than this one, they won't immediately know if there are sufficient funds on deposit and as a result, can place a hold on the funds. If they do this, the bank will notify you.
The length of the hold will depend on the amount of the check and the distance between your bank and the bank the check is drawn on. There are check processing regions, and that is how the time is determined. Again, your bank will tell you when the funds will be available to you.
One more thing, just because the date of availability arrives, this doesn't mean the check is "good," it just means the funds are available based on the schedule the bank has to follow. Sometimes a check won't have had time to clear and it could be returned shortly after that.
Published on BankingQuestions.com 2/25/08
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
