How is the money transferred from a Jackpot win.?

Reply #4

music* — Mon, 19 Nov 2018 13:59:40 GMT

Thank You, TheGameGrl for your informative reply.

There is the option of www.cdars.com

I hope to get a loan while waiting for the check to clear.

In California, I will wait to claim while I am getting my ducks lined up. After claiming I will wait six weeks to get the check. Then I will wait 20 business days for a certain amount to be available.

Reply #3

KY Floyd — Mon, 19 Nov 2018 07:22:52 GMT

You can put the money in your free checking account if you want to.

Of course once you actually win you can consult with knowledgeable professionals about your best options. Once you start investing instead of just putting it in a bank account the SEC night actually have some relevance.

Reply #2

gatorsrok — Sun, 18 Nov 2018 00:14:24 GMT

Florida will wire the money to your bank account unless you want a check.

Reply #1

TheGameGrl — Fri, 16 Nov 2018 20:52:42 GMT

Following the regulations set forth by the SEC. A check is endosed. It then requires a holding time for the depositor. During which the account is flagged for a deposit exceeding $7,500. The clock proceeds to tick. The bank or financial institution files the deposit record with the SEC . After 20 business days a certain amount is available funds. Usually up to 5 k per day. On business day 21 all funds should be available for withdrawal or allocation to other established accounts. This is a gener... [ More ]

How is the money transferred from a Jackpot win.?

SoleWinner21 — Fri, 16 Nov 2018 14:51:39 GMT

Something I always wondered about for a while.

Say you win $100 million after taxes. What are the next steps for receiving the money. I assume you have to already open some type of special high net worth account(s) to transfer the money.