I just got a check (big amount) from the insurance company, I would like to know if I deposit this check to the bank so how long can I cash the money out?. I knew that I need to wait until the check is cleared. How long ? So I can plan to take care my expenses.
2006-11-26 22:39:13 · 5 answers · asked by Anonymous in Business & Finance ➔ Insurance
Your bank should be able to tell you! Usually it's a couple business days for an in state check, and five for an out of state check.
2006-11-26 23:45:48 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
The bank I bank with holds all but $100 for 10 business days. If you get a phone number for the insurance company's bank, and talk to the manager, they will/can call after 3 business days and see if the check cleared the outgoing account. Then they will release it early. Talk to the manager, not the checker.
2006-11-27 14:05:09 · answer #2 · answered by Susan C 3 · 0⤊ 0⤋
Figure minimum of 10-15 business days - and they don't count Saturday, Sunday, or any holiday as business days. And, no the bank won't make any exception - insurance companies are famous for stop-payments or other problems with the checks, so the banks hold it until it clears.
2006-11-27 01:53:52 · answer #3 · answered by zippythejessi 7 · 0⤊ 0⤋
It depends on your bank's policy.
2006-11-26 22:40:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋
OMG Ask your bank!!
2006-11-30 07:01:15 · answer #5 · answered by TERRI T 3 · 0⤊ 0⤋