Friday, November 20, 2009

How do you cash large amounts of money?

If someone were offered a huge amount of money like 5 million dollars, how would they cash it? Or if they didn't want cash and just wanted to put it in the bank, how would they go about doing that?

How do you cash large amounts of money?
No bank will cash a check of that size. They simply don't keep that kind of cash on hand. In order to open an account you need identification and they may even do a credit check.
Reply:They wouldn't cash a check like that.. they'd need to do a background check.. You're more likely to directly transfer that amount of cash. And theoretically, if you wanted to cash it and they were to let you, you'd have to let them know like a week in advance so they could actually get the physical cash in.


But to put it in the bank, reaslistically they wouldnt let you just deposit a 5 million dollar check cuz they would expect fraud, though they might do alot of background checking and request the writer of the check give you the money some other way.

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