Can you cash a lottery check of over $1,000 at a bank?Prev Topic Next Topic

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derangedgambler

Boston,MA
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June 8, 2016
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Jun 16, 2016, 4:03 pm

Suppose you have a lottery check written out to you for $1,000-5,000, if you brought in the check to a bank would you be allowed to cash it?

I am aware that they would let you deposit the check, but I am just curious if they would let you cash it.
dr65

50

Pennsylvania
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May 2, 2009
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Jun 16, 2016, 4:35 pm

Depends. If you take it to the bank the check is drawn on, they might,

especially if it's your bank too. If not they may require you open an account

then being a new customer, the holds apply.

There most likely will be a clearing period though of next day to a few days if

you deposit it.

If you've been with your own bank for sometime, they should allow you to have

access to some of it. My long time bank will cash anything for me. But I've been

there forever which is good except for checks from PA lottery.

I won a big chunk of money and wanted to bypass them due to gossiping

nosey pokes. I opened another account and the funds were available next

day. Easy.

I'm assuming either you do not have a bank? Or they told you no because of the hold time?

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derangedgambler

Boston,MA
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Jun 16, 2016, 4:43 pm

Right, I know that. But what I want to find out is whether I could, not deposit, but cash the check.
dr65

50

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Jun 16, 2016, 5:06 pm

Quote: Originally posted by derangedgambler on Jun 16, 2016
Right, I know that. But what I want to find out is whether I could, not deposit, but cash the check.

I know. With banks in the business to protect themselves, some good old fashioned

anything is fine types of service went out the window.

Honestly, you'd have to go there and ask. Policies are pretty much the same, deposit and

wait. Can you wait? Do you have ID? Take it to Walmart. They might but have limits. I never

tried a lottery check at Walmart, sounds ridiculous really but now you have me thinking about

how to cash your check. I've spent plenty of time in customer service lines waiting for my turn.

I read the signs many times about check cashing, money orders, return policies, etc...I know

they'll cash checks for a minimal fee...they cannot be handwritten/personal checks. Your's isn't.

Primarily..

If you have an account they might cash it at your bank. If you have no bank then you'll most likely

have to open an account and wait.

Due to restrictions, you just walking in off the street to a bank who does not know you, and

walking out with cash, won't happen.

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LiveInGreenBay

Green Bay
United States
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October 15, 2015
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Jun 16, 2016, 5:15 pm

I would guess any bank in your state could verify the funds in that account immediately. All it would take if for you to prove who you are. Probably two forms of ID would be required. Take the money and run.

Never give up.
geerod2001

canton,georgia
United States
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November 23, 2008
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Jun 16, 2016, 5:30 pm

I was able to cash an out of state check for $23,000.00 at a Bank of America,check drawn on their bank,without having an account three years ago. Had the cash in hand within an hour of walking in the door.
Wheeler

25

Pittsburg, Ks
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January 17, 2004
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Jun 16, 2016, 5:56 pm

I received checks from my IRA Account for over a $1,000. I couldn't put it in my checking account because I didn't have enough money in it to cover it. I had to put it in my savings account and wait 3 days for it to clear

God Bless America
Stack47

Kentucky
United States
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February 14, 2006
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Jun 16, 2016, 6:07 pm

Quote: Originally posted by derangedgambler on Jun 16, 2016
Suppose you have a lottery check written out to you for $1,000-5,000, if you brought in the check to a bank would you be allowed to cash it?

I am aware that they would let you deposit the check, but I am just curious if they would let you cash it.

No disrespect meant to you or any of the members answering your question, but why not simply ask somebody at your bank because banking policies are not one size fits all?
LiveInGreenBay

Green Bay
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Jun 16, 2016, 6:26 pm

Quote: Originally posted by geerod2001 on Jun 16, 2016
I was able to cash an out of state check for $23,000.00 at a Bank of America,check drawn on their bank,without having an account three years ago. Had the cash in hand within an hour of walking in the door.

You walked out of that bank with 23K in cash? Just curious, did the IRS ever pay you a visit after that?

Never give up.
dr65

50

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Jun 16, 2016, 7:02 pm

Quote: Originally posted by geerod2001 on Jun 16, 2016
I was able to cash an out of state check for $23,000.00 at a Bank of America,check drawn on their bank,without having an account three years ago. Had the cash in hand within an hour of walking in the door.

Was it certified?

Guaranteed funds?

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BobP

Dump Water Florida
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June 5, 2002
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Jun 16, 2016, 8:44 pm

If the amount in your account is larger then the check, I would expect the bank to cash it, but you may also find there is a hold on that amount until the check clears.

I've found banks have always made a difference between flat out cashing a check and a check where a portion is also deposited. Going in with a $3,000. check and depositing $1,000. taking $2,000. in cash, I'd expect to go through no problems. Again there would have to be enough on account to cover, and may be put on hold, ask.

Bank of America doesn't care if the check is from their account holder, if you don't have an account with them they charge a fee or require you open an account. Three months ago watched a guy go through this trying to cash his lawn service pay check, but hey this is Florida, things are different here. The funny part was they had cashed the check, he had the money in hand, then they realized they expected him to pay the fee. He was saying the transaction was finished, they disagreed, then it was my turn and lost the rest of the story.

With so many scams out there with fake cashier's checks that first appear to clear and later bounce, you may find the bank taking some measures to protect themselves and their customers.

BobP

Tip: If you have a garbage disposal the day will come when it is going to leak ruining your cabinets and making a big mess. Keep a bucket under it, not high sided enough to have the disposal sitting in water as there is electric, and so you can remove the pail without having to tip it. Added to the list of, wish I had done that.
JAMORA

NC
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February 28, 2015
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Jun 16, 2016, 8:54 pm

Quote: Originally posted by BobP on Jun 16, 2016
If the amount in your account is larger then the check, I would expect the bank to cash it, but you may also find there is a hold on that amount until the check clears.

I've found banks have always made a difference between flat out cashing a check and a check where a portion is also deposited. Going in with a $3,000. check and depositing $1,000. taking $2,000. in cash, I'd expect to go through no problems. Again there would have to be enough on account to cover, and may be put on hold, ask.

Bank of America doesn't care if the check is from their account holder, if you don't have an account with them they charge a fee or require you open an account. Three months ago watched a guy go through this trying to cash his lawn service pay check, but hey this is Florida, things are different here. The funny part was they had cashed the check, he had the money in hand, then they realized they expected him to pay the fee. He was saying the transaction was finished, they disagreed, then it was my turn and lost the rest of the story.

With so many scams out there with fake cashier's checks that first appear to clear and later bounce, you may find the bank taking some measures to protect themselves and their customers.

BobP

Tip: If you have a garbage disposal the day will come when it is going to leak ruining your cabinets and making a big mess. Keep a bucket under it, not high sided enough to have the disposal sitting in water as there is electric, and so you can remove the pail without having to tip it. Added to the list of, wish I had done that.

Your tip is ironic, as this JUST happened to me!!!!I have a bucket under it right now until we can replace the disposal!LOL! Fortunately I had a cleaner caddy that caught the majority until it was discovered.

"Don't waste time, it's the stuff life's made of..."

VTs are like looking for a sewing kit in a haystack instead of looking for the needle.
Teddi

United States
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May 13, 2013
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Jun 16, 2016, 10:11 pm

Quote: Originally posted by derangedgambler on Jun 16, 2016
Suppose you have a lottery check written out to you for $1,000-5,000, if you brought in the check to a bank would you be allowed to cash it?

I am aware that they would let you deposit the check, but I am just curious if they would let you cash it.

Banks are obligated to protect their interests...and their interest is money. Different banks and credit unions will have different requirements based on their ability to verify your identity and the account the money is being drawn from.

Also a factor is your own history. If you've had a bank account closed on you for being overdrawn or bouncing a lot of checks in a short amount of time, I don't know of any bank that will cash a check for you unless the check is being drawn from the same bank.

I helped out an acquaintance once by sending her a check to cover the cost of her rent and no one would cash the check for her (not even Walmart) even though it was just a few hundred dollars. She finally got a check cashing store to cash it for a large fee, but then I had to jump through hoops to verify who I was and MY credit history.

I too would prefer Cersei Lannister to Tiny Hands. She always pays her debts, hasn't filed 6 bankruptcies and is educated enough to know Nambia isn't a country.
Surge

Ohio
United States
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September 11, 2006
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Jun 16, 2016, 11:24 pm

Ohio Lottery makes it quite convenient for players cashing large amounts of $600-$5000. Retailers have you fill out a form, you take the form to one bank that the Ohio Lottery is affiliated with all over the state, and they'll cash it right there.

I haven't done it, but that's what the Ohio Lottery website says

‡ Keep it simple ‡
Epistrophy

San Diego, CA
United States
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June 17, 2011
187 Posts
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Jun 17, 2016, 1:46 am

I'd like to see the bank teller's face after reading that the lottery check to be cashed is made out to Deranged Gambler.

And of course the bank president would have to come over and say, "Mr. Gambler, I just have a few more questions. May I call you Deranged?"

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