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Old 12-13-2007, 09:23 PM
dondorchi2 dondorchi2 is offline
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Default I have a $50,000 life insurance check written from State Street of Boston.Will

their bank(or a branch)cash it? I don't have an account with State Street Bank. But I thought you could bring a check to the issuing bank and they have to cash it. Does that only apply to checks written for under a certain amount?

I'm in Michigan, but willing to fly to State Street of Boston, though there are closer locations to me. Will a branch of their bank cash my large check?

Anyone know the laws on cashing large checks? Is there a mandatory holding period? I thought about getting a large portion of the $50,000 issued to me in smaller cashier's checks, money orders, or traveller's checks -- in order to reduce the amount they give me back as cash (if necessary). Even some Visa Gift Cards would work.

Any advice, please let me know!


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Old 12-13-2007, 09:23 PM
Star C Star C is offline
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if you take the check to the bank it was issued from for example if the checks says bank of america take it to bank of america and they will cash it free of charge of for a fee comparable to the fee of a check cashing place. i would not trust a check cashing place such as money box or ace cash express to hold a check or do a partial pay out. you may want to look into opening a bank account and then closing it right after your check clears.
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Old 12-13-2007, 09:23 PM
CHARLES R CHARLES R is offline
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Anythign over 10,000 they will need your ID due to federal anti-money laundering requirements.

Secondly, if a guy with a 50k check walked into my branch I would be slow to cash it - especially if he's from out of town. I'd just need to ensure it was a legit cheque.

Also wouldn't you be afraid walking around with $50k of cash and near-cash.

Or is there a judegment against you where you're afraid the money will be taken if you had money show up in a bank account?
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