When do you get the money?

Reply #13

Thomas Covenant — Wed, 31 Jul 2002 04:02:54 GMT

Best bet would be to arrange everything before you turned in the ticket.

Reply #12

lottocheatah — Wed, 31 Jul 2002 03:55:32 GMT

You go to the bank the cheque is drawn on. G'day. I'd like to cash this, please. Oh, one more thing. I would like to open 1000 accounts and deposit $100,000 in each. .. but I'd do plan B first, just for the fun of it all! Can you imagine them scrambling through all their resources trying to put together $100 Mil to rake $3Mil off the top for pulling it off! Leave the cheque until tomorrow? Oh no, I couldn't do that. Sorry. Bye.

Reply #11

Thomas Covenant — Wed, 31 Jul 2002 03:39:04 GMT

And I want it in quarters

Reply #10

lottocheatah — Wed, 31 Jul 2002 03:27:43 GMT

Determined not to temp the fickle finger of fate, you walk into MoneyMart. G'day, I'd like to cash this, please

Reply #9

Thomas Covenant — Wed, 31 Jul 2002 03:25:37 GMT

I guess you could put it in 1000 accounts, each insured by the fdic for $100,000.

Reply #8

lottocheatah — Wed, 31 Jul 2002 03:18:53 GMT

You just won $100 Mil on the lotto.The lottery corp writes you a check.You take the check to your bank to deposit. (what else?)The bank says, sorry, don't happen to have a $100 Mil lying around today.. it will have to clear.Two weeks later the bank goes under. You never get a cent.Makes MoneyMart sound like a great deal, rip or not.

Reply #7

Thomas Covenant — Wed, 31 Jul 2002 02:20:20 GMT

Rock Hill, And I don't think I could afford the Ukrainian girl for a mere $100,000. My lawyer fees for the divorce shortly after we married would eat that up.

Reply #6

RDP — Wed, 31 Jul 2002 02:14:32 GMT

...still get that Ukrainian chick for at least $100,000? You'd be broke, but happy.Hey, do you mind my asking what part of SC you're from? I'm originally from Union, but now live in Evans, GA.(couple of miles northwest of Augusta

Reply #5

Thomas Covenant — Wed, 31 Jul 2002 01:59:17 GMT

Hmmmm, I don't know if I would want to leave several million dollars in an account that is insured for only $100,000 for very long.

Reply #4

RDP — Wed, 31 Jul 2002 01:55:51 GMT

Thomas, I emailed the Georgia Lottery with that question regarding Lotto South MegaMillions a few days ago, as I was curious myself. Below is the question I asked, and below that is their response. Hope this helps.MY QUESTION:Quick question here. When someone wins Mega Millions or Lotto South,how long does it take them to receive the money once the claim ismade? Also, how do they receive it? Is it by check, or can the moneybe directly deposited to their bank account? Thanks for your time.THEIR... [ More ]

Reply #3

Thomas Covenant — Wed, 31 Jul 2002 01:46:00 GMT

Even though they take out 27% fed tax, tax at the end of the year could be as high as 39%. So when you are paying off your credit card bills, keep that in mind. You might need some to pay the rest of the taxes.

Reply #2

durango99 — Wed, 31 Jul 2002 01:33:05 GMT

they write you a check that day. the check is valid and depositable... but due to the large amount of money a normal bank cannot cover that kind of fund transfer taking it several weeks. I am not sure what finacial institution the lottery commision uses to place the money holdings from ticket sales but if it was the federal treasury and you were to open an account in the treasury the money tranfer would be alot quicker... most people say its 3 to 4 weeks that have won because of them contacting

Reply #1

Bradly_60 — Tue, 30 Jul 2002 23:59:34 GMT

With Jackpots it usually will take around 4 weeks. That is what i heard anyway. I don't know if there is any merit to that but it makes sense.

When do you get the money?

Thomas Covenant — Tue, 30 Jul 2002 22:46:07 GMT

So if you won the mega millions, and took the cash,How and when do they pay you