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depositing check

Topic closed. 27 replies. Last post 4 years ago by kyokushin187.

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kyokushin187's avatar - evildead2
cornwall,ct
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December 23, 2010
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Posted: September 12, 2012, 10:53 am - IP Logged

I was wondering how you would go about depositing a lottery check for exmple of  $700,000.00 dollars if fdic only insures 250k.would you have to have seperate acounts at different banks 250k each.also if that is the case how would split the initial check thats cut for 700k to deposit it into seperate banks?

Kyokushin karate a.k.a.

" The strongest Karate"


    United States
    Member #111442
    May 25, 2011
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    Posted: September 12, 2012, 10:58 am - IP Logged

    Which lottery did you win that all that loot kyok?

    Personally I would just stuff the cash in three different mattresses. Plus you will sleep so much better resting on all those benjamin's!  Bed

      savagegoose's avatar - ProfilePho
      adelaide sa
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      Posted: September 12, 2012, 11:03 am - IP Logged

      i doubt they give a check as only option. they prob give direct deposits also. you could prob name 4 or 5 accounts and  amounts to ea one.

      2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

      keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

        kyokushin187's avatar - evildead2
        cornwall,ct
        United States
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        December 23, 2010
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        Posted: September 12, 2012, 11:04 am - IP Logged

        Which lottery did you win that all that loot kyok?

        Personally I would just stuff the cash in three different mattresses. Plus you will sleep so much better resting on all those benjamin's!  Bed

        Not yet mcginn.but i fell my time is comming.got 5 of 6 on classic lotto in july. And then 4 of 6 in the same game friday so i'm guess i'm just thinkin ahead.but i always wondered how you would deposit a check over 250k.the maximum insured amount by the fdic

        Kyokushin karate a.k.a.

        " The strongest Karate"


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          Posted: September 12, 2012, 11:08 am - IP Logged

          Not yet mcginn.but i fell my time is comming.got 5 of 6 on classic lotto in july. And then 4 of 6 in the same game friday so i'm guess i'm just thinkin ahead.but i always wondered how you would deposit a check over 250k.the maximum insured amount by the fdic

          Seriously then, you already have the right answers. Just put $250K in two banks, and $200K in a third bank and your 100% covered with FDIC.

           

          Once you deposit the initial $700K into the first bank, your funds should be available within 1-2 business days.

           

          You then have your bank wire the $250K and $200K to the other banks of your choice. Shouldn't take them 15 minutes to accomplish that.  Type

          No need to tip them for that, that's their job!


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            Posted: September 12, 2012, 11:13 am - IP Logged

            I was wondering how you would go about depositing a lottery check for exmple of  $700,000.00 dollars if fdic only insures 250k.would you have to have seperate acounts at different banks 250k each.also if that is the case how would split the initial check thats cut for 700k to deposit it into seperate banks?

            Direct deposit........ the lottery wants to know exactly where the money went. (paper trail)


              United States
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              Posted: September 12, 2012, 11:16 am - IP Logged

              I was wondering how you would go about depositing a lottery check for exmple of  $700,000.00 dollars if fdic only insures 250k.would you have to have seperate acounts at different banks 250k each.also if that is the case how would split the initial check thats cut for 700k to deposit it into seperate banks?

              Funny....... Your question is the very first one answered at the FDIC web site........

              http://www.fdic.gov/deposit/deposits/insured/faq.html

                kyokushin187's avatar - evildead2
                cornwall,ct
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                Posted: September 12, 2012, 11:19 am - IP Logged

                Funny....... Your question is the very first one answered at the FDIC web site........

                http://www.fdic.gov/deposit/deposits/insured/faq.html

                Thx 316 that was helpfull info also.

                Kyokushin karate a.k.a.

                " The strongest Karate"


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                  Posted: September 12, 2012, 11:21 am - IP Logged

                  Funny....... Your question is the very first one answered at the FDIC web site........

                  http://www.fdic.gov/deposit/deposits/insured/faq.html

                  Now if we were financial consultants, kyok would be receiving an invoice of $450, for professional services rendered.  Conehead


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                    Posted: September 12, 2012, 11:23 am - IP Logged

                    Now if we were financial consultants, kyok would be receiving an invoice of $450, for professional services rendered.  Conehead

                    Yeah, funny how people dont think to "click" before spending big money on simple advice????

                      kyokushin187's avatar - evildead2
                      cornwall,ct
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                      December 23, 2010
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                      Posted: September 12, 2012, 12:03 pm - IP Logged

                      i doubt they give a check as only option. they prob give direct deposits also. you could prob name 4 or 5 accounts and  amounts to ea one.

                      Just called my state lottery and they don't offer direct deposits. they couldn't  answer my question about how deposit a check over 250k either.so i then called my bank and their answer was i would need to speak with a financial advisor even to answer that question and also about how long would. It take for the funds to be available. Once the check is deposited.

                      Kyokushin karate a.k.a.

                      " The strongest Karate"


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                        Posted: September 12, 2012, 12:06 pm - IP Logged

                        Just called my state lottery and they don't offer direct deposits. they couldn't  answer my question about how deposit a check over 250k either.so i then called my bank and their answer was i would need to speak with a financial advisor even to answer that question and also about how long would. It take for the funds to be available. Once the check is deposited.

                        Im sure your bank will gladly deposit any check you bring in. It may take 10 business days to clear.

                          kyokushin187's avatar - evildead2
                          cornwall,ct
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                          Posted: September 12, 2012, 12:10 pm - IP Logged

                          Im sure your bank will gladly deposit any check you bring in. It may take 10 business days to clear.

                          Do you think that a car dealership would let you drive off  the lot the same day you deposit the check even if it takes that long to clear? I was watching tlcml episode with bunky bartlet who says that a dealership let him drive off with a car the same day.

                          Kyokushin karate a.k.a.

                          " The strongest Karate"


                            United States
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                            Posted: September 12, 2012, 12:14 pm - IP Logged

                            Do you think that a car dealership would let you drive off  the lot the same day you deposit the check even if it takes that long to clear? I was watching tlcml episode with bunky bartlet who says that a dealership let him drive off with a car the same day.

                            If you are financing the car they will likely let you drive away. But if you are paying full price with a check they will likely want to verify the funds or even take the funds electronically.


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                              Posted: September 12, 2012, 12:15 pm - IP Logged

                              Do you think that a car dealership would let you drive off  the lot the same day you deposit the check even if it takes that long to clear? I was watching tlcml episode with bunky bartlet who says that a dealership let him drive off with a car the same day.

                              Having been in car sales, they would not take a personal check. It would have to be certified or cashiers check only.

                              The exception would be if they knew you personally, and the management authorized it.