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I have credit card checks, and every time I go to cash or deposit one I get the strangest looks, like "What is this?", and the worst part is they don't have a clue on the turnaround time.

My question is: Can you get cash instantly, or do you need to deposit and wait 1 business day before you can use funds from credit card checks? Also, if the credit card check is from Chase, can you go to Bank of America or another financial institution?

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6  
I had to look up what a credit card check is... – David Grinberg Jan 6 at 19:23
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I recommend from personal experience to be careful using these or other forms of cash advances. I respect that sometimes you just need money now but the generally much higher interest that is charged on these can get out of control. – Michael McGriff Jan 6 at 20:18
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Be careful with credit card checks... you are borrowing the money at a (usually) much higher rate than your normal credit card rates are... and if you are needing the money that badly, you may wind up digging a hole you can't easily get out of... which will lead to more cash advances, deepening the financial hole. It's much better to get a personal loan if you need money to pay for things, the interest rates are usually going to be far better than any cash advance. – SnakeDoc Jan 6 at 21:34
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Also -- I think -- that generally interest starts accruing immediately. – Scott Simpson Jan 7 at 3:31

For those who don't know, credit card checks are blank checks that your credit card company sends you. When you fill them out and spend them, you are taking a cash advance on your credit card account. You should be aware that taking a cash advance on your credit card normally has extra fees and finance charges above what you have with regular credit card transactions.

That having been said, when you take one of these to your bank and try to deposit them, it is entirely up to bank policy how long they will make you wait to use these funds. They want to be sure that it is a legitimate check and that it will be honored. If your teller doesn't know the answer to that question, you'll need to find someone at the bank who does. If you don't like the answer they give you, you'll need to find another bank.

I would think that if the credit card is from Chase, and you are trying to deposit a credit card check into a Chase checking account, they should be able to do that instantly. However, bank policy doesn't always make sense.

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14  
Last sentence...such an understatement. – Pete B. Jan 6 at 17:41
    
I've had them hold certified checks from another account at the same bank. – Spehro Pefhany Jan 6 at 18:59
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I drove across town once to go to the bank a cheque was issued from once and was told I couldn't cash it there because I didn't have an account. I'm like no, your name is on the check - cash the danged check. I'm not paying you to give me the money you already promised this guy you'd hold on to until I was ready! I eventually got it without paying the fee, but it took an hour of my time... so your last paragraph certainly rings home. – corsiKa Jan 6 at 22:12
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Your last statement "Bank Policy doesn't always make sense" seems to imply that banks do nonsense, and that is a disservice to the casual reader. Bank policy is made around one major factor: risk mitigation. (There also tons of regulations both domestic and international, like Basel and others) The delay on making funds available is to reduce the risk (to the bank). Also banking is a very competitive industry, so they won't be explaining the why's to anyone. But to the risk analysts, it makes complete sense to do the policy just like that. – Mindwin Jan 7 at 12:02
    
Every day a bank waits longer it can use your cash to get interest, its just another source of income for them. – Alfons Jan 7 at 13:00

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