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by Corinney on January 10th, 2008

Corinney

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I sold my house, got a big check (Yipee)! I took it to the bank that issued it (Key Bank, who were JERKS by the way) and had it put into a cashiers check. When I take the cashiers check to my credit union will there be a hold on it like a regular check?

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Answers. 3 helpful answers below.

  • by wrenchface on January 10th, 2008

    wrenchface

    I use a bank. They put an 11 day hold on a cashiers check that I tried to deposit, which I thought defeated the purpose of a cashier's check in the first place..

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  • by Merfish on January 10th, 2008

    Merfish

    You will have to ask at your credit union. When we sold our house my credit union held our check for 10 days. My mother's bank cleared her portion of the sale the same day.

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  • by justaQ on January 10th, 2008

    justaQ

    unfortunatly b/c of the rate of fraud, cashier checks aren't as good as gold anymore, to protect the bank and you from the going in the negative they place a hold on the check to make sure the funds are available, depending on your account history (like overdrawing, and your account balance) determines the length of the hold. at my bank i work at, the first $5,000 is available the next day b/c its a cashiers check and the rest will be available on the day the hold ends. depending on the management of the bank, sometimes they can take a copy of the deposit (check and deposit slip) and call the bank it is drawn off of to see if the funds are there and available and release the hold early. we do this w/ known customers and companies. so, it all depends on your account history if the program promps for a hold, no way to tell until you actually do it (run the transaction) unfortunatly. you will either have a 7-day business hold, or an extended hold which is like 2 weeks i think. good luck.. i know holds can be frustrating, but w/ all the fraudlent ppl, they ruined it for everyone..

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You're reading I sold my house, got a big check (Yipee)! I took it to the bank that issued it (Key Bank, who were JERKS by the way) and had it put into a cashiers check. When I take the cashiers check to my credit union will there be a hold on it like a regular check?

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