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14 days for a bank cashier's check to clear

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  • #16
    Originally posted by maat55 View Post
    DW says that it was probably an exception hold. This is the case when the bank customer does not have matching funds to cover the cashiers check.
    So if I have 5K in my account and deposit a check for 4K, the bank will release those funds in 2-3 days but if I have 5K in my account and deposit a check for 6K it may take 14 days to release the funds? That's ridiculous.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
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    • #17
      A bank cashiers check should be as good as cash and instantly redeemable. That's the whole point, ain't it?

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      • #18
        My check finally cleared today on my BOA account. Deposited 24 November.

        I think when my account reaches $100k I'm going to walk in and demand they close my account and pay me in cash.

        They can't refuse that can they? I want a manager to count it out!

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        • #19
          Originally posted by wincrasher View Post
          I think when my account reaches $100k I'm going to walk in and demand they close my account and pay me in cash.

          They can't refuse that can they? I want a manager to count it out!
          They can't refuse but they can (and would) make you wait because no bank keeps that kind of cash on hand. They have to order it from their local Federal Reserve and have it delivered. It usually takes a few days.
          Steve

          * Despite the high cost of living, it remains very popular.
          * Why should I pay for my daughter's education when she already knows everything?
          * There are no shortcuts to anywhere worth going.

          Comment


          • #20
            That may take some of the fun out of it

            Knowing BOA, they probably wouldn't even give me a paper sack to put it in.

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            • #21
              Originally posted by wincrasher View Post
              My check finally cleared today on my BOA account. Deposited 24 November.

              I think when my account reaches $100k I'm going to walk in and demand they close my account and pay me in cash.

              They can't refuse that can they? I want a manager to count it out!
              Originally posted by disneysteve View Post
              They can't refuse but they can (and would) make you wait because no bank keeps that kind of cash on hand. They have to order it from their local Federal Reserve and have it delivered. It usually takes a few days.
              Additional downside, you'd have to look out for men in black suits following you around -- the FBI and other such agencies pay attention to large cash withdrawals like that... But at the same time, if you could get $100k in $20's, you could seriously go swimming in your cash, which would make an awesome story (just watch out for paper cuts)

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