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Started By
Message
Cashing large checks at banks
Posted on 2/8/15 at 8:47 pm
Posted on 2/8/15 at 8:47 pm
Is this looked down upon? If I brought a check issued from that bank to that bank and asked them to cash it would they do it? Instead of waiting 5-7 business days for it to clear if I deposited it. Check in question is 35k
6
Posted on 2/8/15 at 9:01 pm to GEAUX DJ!
Depending on the bank/branch. You may not be able to cash 35k without advanced notice.
It's not safe. Plus you have to do ctr and crap.
Why can't you wait 5 days?
It's not safe. Plus you have to do ctr and crap.
Why can't you wait 5 days?
Posted on 2/8/15 at 9:02 pm to GEAUX DJ!
I moved 40k from one bank to another via cashiers check and they told me it would be 3-5 days.
It was available the very next day.
It was available the very next day.
Posted on 2/8/15 at 9:05 pm to LSU6262
62 - does the bank fill out a CTR when the check is already a written record?
I thought CTR's were for cash transactions.
I thought CTR's were for cash transactions.
Posted on 2/8/15 at 9:12 pm to matthew25
quote:
I thought CTR's were for cash transactions
He said he was cashing the check
Posted on 2/8/15 at 9:13 pm to GEAUX DJ!
quote:
Is this looked down upon? If I brought a check issued from that bank to that bank and asked them to cash it would they do it? Instead of waiting 5-7 business days for it to clear if I deposited it. Check in question is 35k
I wouldn't do it. Nothing like walking out of the bank with that much cash in hand to get yourself killed.
Posted on 2/8/15 at 9:16 pm to matthew25
What is a CTR? I can wait, just was wondering if the bank would cash it If I wanted cash.
Posted on 2/8/15 at 9:20 pm to Jcorye1
quote:
I wouldn't do it. Nothing like walking out of the bank with that much cash in hand to get yourself killed.
How would anyone possibly know how much money you were carrying? People that run businesses that are cash intensive do it every day.
Posted on 2/8/15 at 9:23 pm to GEAUX DJ!
And just to clarify I would be cashing the check from Regions bank, which is where the check was cut from and depositing some of the funds in Investar. I wanted some cash on hand to make a few purchases. Investar limits what I spend per day so instead of calling them every day I need to make a purchase to up my limit I could just bring cash to purchase these items locally.
Posted on 2/8/15 at 9:23 pm to GEAUX DJ!
quote:
What is a CTR?
Cash transactions greater than 10k have to be reported to the government
Posted on 2/8/15 at 9:27 pm to LSU6262
Which is why you deposit the check and write four checks.
Posted on 2/8/15 at 9:36 pm to GEAUX DJ!
quote:
And just to clarify I would be cashing the check from Regions bank
I was on board with your plan until I saw what bank it was.
I've cashed relatively big checks - 6 grand or so - at banks where they were drawn and I had no account, but Regions is a pain in the arse. That's where my checking accounts are and I have immense trouble cashing checks there, despite my 14 year relationship with them. This post was edited on 2/13/15 at 8:58 pm
Posted on 2/8/15 at 9:47 pm to GEAUX DJ!
Write checks for the purchases?
Posted on 2/8/15 at 10:02 pm to GEAUX DJ!
So, you'll be cashing a $35k check in the next few days. Presumably in Plaquemines of which there is only one branch. Good to know. Care to give a date and time?
Posted on 2/8/15 at 10:36 pm to GEAUX DJ!
quote:
Is this looked down upon?
Why would you care what anyone thinks about it?
quote:
If I brought a check issued from that bank to that bank and asked them to cash it would they do it?
If you own a cash-intensive business they just might. If this is a one-off you might have some questions asked but if it is a good check you should be good to go.
quote:
Instead of waiting 5-7 business days for it to clear if I deposited it.
Why do you need to tap the money that quickly?
Posted on 2/8/15 at 10:59 pm to RadTiger
Yep Rad, I'll be cashing it in Plaquemines in the next few days. Care to travel down there and see if you can get me? I bet you the whole amount and my new truck you won't catch me in Plaquemines.
I'll see if those places take checks. In the event that they don't and I have to withdrawal money from my account to avoid those ctrs I should stay under 10k correct?
I'll see if those places take checks. In the event that they don't and I have to withdrawal money from my account to avoid those ctrs I should stay under 10k correct?
Posted on 2/8/15 at 11:01 pm to foshizzle
Either way its not a big deal I'll just deposit it, I was just asking the question.
Posted on 2/9/15 at 4:41 am to GaryMyMan
quote:
I was on board with your plan until I saw what bank it was. I'll paypal you $3 if Regions will do it. I've cashed relatively big checks - 6 grand or so - at banks where they were drawn and I had no account, but Regions is a pain in the arse. That's where my checking accounts are and I have immense trouble cashing checks there, despite my 14 year relationship with them.
Several years ago I had gotten an insurance payout check for a little under 10k that I was going to use to put on a new truck to replace mine that had been wrecked.
Even though it was written by them and I had an account that would more than cover the check they refused to cash it.
I ended up terminating my accounts with them and going to a credit union over that experience.
Posted on 2/9/15 at 5:42 am to GEAUX DJ!
Like the other poster said, it's not safe. Secondly, banks only have so much on hand at each branch based on their individual volume of business. Cashing that amount without notice could put them in a pinch before their next cash shipment arrives. A CTR would definitely have to be done.
Posted on 2/9/15 at 9:06 am to GEAUX DJ!
I cashed a 15k check at regions a couple weeks ago, they charged me $20 since I didn't have an account there
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