American heritage heritage federal credit union

August 25, 2021 / Rating: 4.8 / Views: 932

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How long are cashier's checks valid wells fargo

Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads. I got tired of losing money from investing in the stock market so I pulled my money and put it into cashier's checks. I know it probably wasn't smart to do that investment wise but it was a safe place for me. Anyhow, when I purchased the cashier's checks, I was told they were as good as cash. I also assumed that they would be good indefinitely. I was just informed that the fine print on the back states if not cashed by 12 months, you will be charged a dormancy fee. After I found this out today, I can't seem to get a straight answer. The cashier's checks are with Wells Fargo, formally Wachovia. I'm stressing over it b/c I don't want to lose my money. The guy at the bank says he thinks they take 5% of the check. I called the department that handles cashier's checks. They are unable to look that one up b/c it is past 5 years. They told me as long as it is within 5 years in FL, it's still valid for the face amount, no fees. I was told to go to the local branch and they should be able to locate it. Although, if it is after 5 years, there will be an escheat of the funds. This means the money will be turned over to the government for unclaimed funds. I thought I'd be safe to do this but apparently not. I'm afraid if this has happened, the bank would have taken fees out and turned the rest over to the government. I can't imagine anyone writing cashier's checks to themselves as an investment strategy, so I'd be surprised if anyone else has experienced this. My concern is will I be able to recover all of my money What happen to unclaimed property varies from state to state. You could just have the money federally protected in a safe savings account or CD. Some states, like California, used to take as much unclaimed property as they good and dump it into their general fund as soon as possible. If it is unclaimed, the state should have records, and decent states would have notified you. I can't imagine anyone writing cashier's checks to themselves as an investment strategy, so I'd be surprised if anyone else has experienced this. Wells Fargo should be able to tell you if it went to the state as unclaimed property and the state should have some record of it. You could just have the money federally protected in a safe savings account or CD. There may have been commissions involved if the money was transferred to the state, so I would not necessarily expect to get it all back. Please register to post and access all features of our very popular forum. Over ,000 in prizes has already been given out to active posters on our forum. Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads. I got tired of losing money from investing in the stock market so I pulled my money and put it into cashier's checks. I know it probably wasn't smart to do that investment wise but it was a safe place for me. Anyhow, when I purchased the cashier's checks, I was told they were as good as cash. I also assumed that they would be good indefinitely. I was just informed that the fine print on the back states if not cashed by 12 months, you will be charged a dormancy fee. After I found this out today, I can't seem to get a straight answer. The cashier's checks are with Wells Fargo, formally Wachovia. I'm stressing over it b/c I don't want to lose my money. The guy at the bank says he thinks they take 5% of the check. I called the department that handles cashier's checks. They are unable to look that one up b/c it is past 5 years. They told me as long as it is within 5 years in FL, it's still valid for the face amount, no fees. I was told to go to the local branch and they should be able to locate it. Although, if it is after 5 years, there will be an escheat of the funds. This means the money will be turned over to the government for unclaimed funds. I thought I'd be safe to do this but apparently not. I'm afraid if this has happened, the bank would have taken fees out and turned the rest over to the government. I can't imagine anyone writing cashier's checks to themselves as an investment strategy, so I'd be surprised if anyone else has experienced this. My concern is will I be able to recover all of my money What happen to unclaimed property varies from state to state. You could just have the money federally protected in a safe savings account or CD. Some states, like California, used to take as much unclaimed property as they good and dump it into their general fund as soon as possible. If it is unclaimed, the state should have records, and decent states would have notified you. I can't imagine anyone writing cashier's checks to themselves as an investment strategy, so I'd be surprised if anyone else has experienced this. Wells Fargo should be able to tell you if it went to the state as unclaimed property and the state should have some record of it. You could just have the money federally protected in a safe savings account or CD. There may have been commissions involved if the money was transferred to the state, so I would not necessarily expect to get it all back. Please register to post and access all features of our very popular forum. Over ,000 in prizes has already been given out to active posters on our forum.

date: 25-Aug-2021 22:00next


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