rogerv

I loaned somebody I know 5,000 one time and 4,000 one time. He took my check to my bank and got cash so I would like to do the same with his check. One check is for 9,500 and the other is for about 1,200, so I am wondering if it would be safe to go and cash them at his bank and take them to mine. I usually have a pretty big balance, and do somethimes over 10k into my business account and have to show id and all that crap but not usually in my personal account. I would really like to just cash the bigger check just to assure I am paid back and do not have to wait and make sure the check will clear. I would like to keep funding him because he keeps his word always in paying me back but does this raise any flags with this much money going in and out of my account. What would you do with the bigger check? Also if you must know what it is for, he does construction and I help him fund the startup of the jobs and he gives me a little more back in return.

Gerald

Go to his bank and get the cash for the $9500 check. If not you will have to wait 10 days for the check to clear...

Jill1347

If it's a legal tender check, whats the issue? Just cash it.

AnnaBelle5866

Bank employees are required by law to report any cash transaction larger than $10,000 on a form called a CTR, Currency Transaction Report. For fraud, terrorism, any number of purposes.It might be tough to get a $9500 check cashed into real cash, and not deposited into your account with a hold on the funds, even if you have an account at the same bank. (though once I did convince a banker to tell me whether the payer had the funds in his account by asking him to open a new account for me and telling him I wanted to "cash" the check) I don't think banks are obliged to pay you cash on a check; some bank branches won't even have that much cash on hand without prior notice.Not what you wanted to hear, but hope it helps you get more creative.