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Discussion in 'Off Topic' started by holden j caufield, Dec 26, 2005.
It should be like depositing cash.
10 days before you should try to spend the money.
If its from another country you better wait ,until 31 banking days After the deposit.
If its from Nigeria........
cashiers checks are like regular check deposit. unless it is a cashiers check from that same bank.
a check deposit should add to you ledger balance immediately, but it won't be added to your available balance until it clears. 1-3 days.
you shouldn't need to wait 10 days. or if your weird about it, just check your available balance at an ATM, or on-line since most banks have free online crap now.
I guess I was wrong .
Checks are checks, they still need to make sure it's not a fake, that the bank that issued it will let it through, that the funds are there, all that. Cashier's checks are backed by the bank, not individual accounts, so they should have a record of it being issued out, and it should go through in a day or so if it's legit.
The thing to watch out with cashiers checks, is that even though they clear quickly, if they later turn out to be bogus, it's your problem. Unfortunately there's nothing guaranteed about a cashiers check.
Wait until your bank tells you it has cleared TOTALLY before assuming the money is there.
Alas, I know this from experience.
My credit union grants me access to the funds immediately from a cashiers check from any major US bank up to $10,000. Anything over that and its 1-3 days. I've never gotten any international cashiers checks, so I dunno about those.