Monday, February 22, 2010

How long will it take for a cashier check to clear a account for a very large amount of money?

WE ARE RECEIVING A INHERITANCE CHECK IN FORM OF A CASHIER CHECK SO IT IS FOR A LARGE AMOUNT.How long will it take for a cashier check to clear a account for a very large amount of money?
There is the cash right behind that check so it shouldn't take long.How long will it take for a cashier check to clear a account for a very large amount of money?
Well, it depends. Sometimes, people will make cashier's checks that take quite a while before the bank figures out it was a fake. It might take a week or two. However, the bank is required by law to give you the money after a certain number of days. That is what the scammers depend on when they run their little check cashing scams.





An example of this would be a type of inheritance scam. They contact a person and tell them that a very distant, rich relative had died. There was a lot of money left to them. A check is sent with instructions to cash it and wire a portion of the money back to the person who sent the check. This is supposed to cover taxes, fees, and stuff like that. What is going on is that the check is fake. It will take the bank a few days to figure it out. However, they are required by law to give you access to the money after a certain number of days. You get access and wire the money off to the person. Soon the bank figures out the check was bad and they want the money back. They want it from the person who cashed the check and not the person who ran the scam. A lot of people end up broke because of scams like these. A few have even gotten into legal problems.





These days cashier's checks are not as dependable as they once were. There are ways to fake them.


http://www.bankrate.com/brm/news/chk/200鈥?/a>





Now, for your situation. I have no idea if you have fallen victim to a scam. You may have lost a true relative and are actually receiving an inheritance. However, I give the scammer story just in case. You never can tell. Keep your guard up. My advice is to talk to the people at the bank and ask them how long it will be before you get the money.





If there is anything about wiring a portion of that money back to the person who sent you the check then put your guard up and explain the situation to a bank manager and maybe even the police and see what they have to say about it.
24 hours
it's a scam, isn't it? don't get your hopes up unless you know the family member. this is a common occurrence.





also, if it's not a scam, it takes at LEAST 24 hrs for the bank to clear a bank check...
A Cashier's check is what a bank calls ';a cash item'; would be like depositing cash to your account.
A. mercer is right, make sure that its not a scam .... but if it is for a large ammount then if i was you i would wait at least 2 weeks before touching a penny of that money even if the bank decides to make it available to you .... but it is a federal regulation that bank can put up to 11 business day hold on any deposited item(cashiers check,money order,personal check...) , exept cash.... i used to work at the bank and i went through a lot of those scams .... so just to protect urself even if you know the ppl you are getting the money from wait couple of weeks , because if that check if fake and you alred spend portion of that money, you gonna end up owing money to the bank plus all the fees that will come with it .... and that bank will never trust you again with depositing ANY checks ... there s gonna be so many notes on ur account everytime they pull up your account ... good luck

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