How long does it take for a cashiers check to clear?

Discussion in 'Off Topic' started by Homerboy, Sep 23, 2010.

  1. Homerboy

    Homerboy Lifer

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    I have a sizable cashiers check (5 digits) from a family member (no Nigerian scams here) that will be deposited into my account.

    How long, on average, does it take for those funds to be available? I know cash is instantenous. Large, personal checks can take 7-10 business days. But a cashier check? I don't know.
     
  2. DominionSeraph

    DominionSeraph Diamond Member

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    immediately available.
     
  3. Homerboy

    Homerboy Lifer

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    same as cash then.
    Very good. This is what I figured/hoped but was not 100% sure on.
     
  4. kranky

    kranky Elite Member

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    I would not assume a five-figure check would be immediately available unless the bank manager him/herself told me that. Cashier's check or not.
     
  5. acheron

    acheron Diamond Member

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    A cashier's check is an obligation of the issuing bank, so the depositing bank generally doesn't worry about lack of available funds or something. Should be cleared instantly barring an odd circumstance (issued by an international bank, etc.).

    If it turns out to be fake later on, they will take the money back, but assuming you trust your family member then that shouldn't be a problem.
     
  6. dank69

    dank69 Lifer

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  7. Homerboy

    Homerboy Lifer

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    This is what I tought.
     
  8. a123456

    a123456 Senior member

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    A day to be realistic. Cashier checks, like regular checks can have a stop payment issued on them, I think. It's this one day that lots of real estate people use to make sure there's no fraud. Also, make sure the cashier check is not expired because that would also invalidate it.

    Probably better to check with a bank, though, instead of my guesswork.
     
  9. OCGuy

    OCGuy Lifer

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    Not true. If it is from an out-of-state bank, they can place a hold on the check still.
     
  10. Homerboy

    Homerboy Lifer

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    In-state.
    In-city in fact.
     
  11. OCGuy

    OCGuy Lifer

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    Then yep it will post at midnight.
     
  12. overst33r

    overst33r Diamond Member

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    Nope. Not at all. Can be anywhere from a few minutes to a few days depending on the banks involved and their procedures.


    This.
     
  13. D1gger

    D1gger Diamond Member

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    So you are related to a Nigerian Prince??
     
  14. SKORPI0

    SKORPI0 Lifer

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  15. 13Gigatons

    13Gigatons Diamond Member

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    What bank issued the check?