2007-04-20 05:24:29 · 6 answers · asked by beyondelana 1 in Business & Finance ➔ Personal Finance
The amount exceeds 500,000, what kind of questions,or hassles, will I have to deal with? Will the bank call the company who wrote the check to verify?
2007-04-20 05:36:50 · update #1
Okay, I know banks don't just hand over that kind of cash- neither do check cashing agencies, but I'm a coffee can hiding kind of girl, what are my options? I want to buy a house with the money.
2007-04-20 05:39:54 · update #2
A bank will NOT cash a check of that size for anyone, let alone someone who is not a customer. The check would have to be deposited. Also, there is a 10 day hold for any amount over 10K.
Since you are going to buy a house with it anyway, open an interest bearing account with the check and make some money on it while you are waiting to close.
2007-04-20 09:07:15 · answer #1 · answered by Mom of 2 4 · 0⤊ 0⤋
Most banks WILL NOT cash your check if you don't have an account with them!! You would have to start an account, deposit the check, and wait for it to clear. Scott must think banks are stupid and just hand you money, and then if the check is bad or a hold is put on it, or frozen by a court that they will take the loss!! You can pay high $$$$ and go to a currency exchange, or liquor store, but real large amounts are going to be tough. If you have a lawyer, check with them and see if they can cash it, or you sign it over to them for cash.
2007-04-20 05:36:28 · answer #2 · answered by Anonymous · 0⤊ 0⤋
if the check is drawn off of a bank, you would want to go the the bank on the face of the check. if it is a state or federal check, you'll have to go to a check cashing place to be cashed. they usually charge a fee. the best way to go about check cashing is to open up a bank account. if you have bad credit history, most banks have checking account that are there to help out with this (i.e. wells fargo has an opportunity checking). this is a type of check systems.
2007-04-20 05:34:56 · answer #3 · answered by jackie 1 · 0⤊ 0⤋
Most banks will cash a settlement check for you for a fee, if you provide proper identification, and in some cases, a thumbprint. Your best bet is to try the bank that the settlement check is drawn on.
2007-04-20 05:28:35 · answer #4 · answered by Scotty Doesnt Know 7 · 0⤊ 0⤋
If the check is not account payee cheek and is a bearer cheek then you can do it... this system is prevalent in India.... check it out at your country
2007-04-20 05:30:31 · answer #5 · answered by Govindarajan 2 · 0⤊ 0⤋
yes you can and now its time to open an account
2007-04-20 05:32:03 · answer #6 · answered by Anonymous · 0⤊ 0⤋