Are there any restrictions on cashing a high-value personal check (say just less than $100,000) from a bank where I don't hold an account.

My friend will give me a check for the amount from BofA, but my account is with Chase.

  1. How long will it take for the amount to become available in my Chase account?
  2. Will I be able to cash the check at a BofA branch and deposit the cash in my Chase account?
  • 4
    If you'll endorse the check and send it to me, I'll have an answer for you in less than a week! ;)
    – Flimzy
    Sep 30, 2011 at 1:53

4 Answers 4


No regulatory restrictions

Your bank might hold it for an extra amount of time, you can ask them to lift that before you deposit it.

  • 1
    For me, the hold was five business days. Though in my case, they put a hold for double the value of the cheque because they weren't paying attention. I deal with TD Bank in Canada. It's almost certainly going to be five business days in the U.S., too. For international cheques, it's longer. Indeed, it may take a month or more, and your bank manager may not have an accurate timeline. Sep 30, 2011 at 2:35

What happened in my case.

  1. I deposited the amount in my Chase account, and it was available for me the next morning. I did tell the teller that it was kind of urgent and she told me that it will be available after clearing at midnight.

  2. I was not able to cash the check at BofA, as they said the branches will not have that kind of cash with them and my only option was to clear the check.


The last time I tried to cash a payroll check (not a personal check), drawn from BoA, at BoA, when I did not hold an account there, they were going to charge me. I would have gotten cash immediately, but I opted not to pay their fee. I don't remember the fee, and it's been about 5 years, so things may have changed.

Your best bet will be to ask Bank of America and Chase, respectively, what their policies are regarding your specific scenario.


While there is not a regulatory restriction, the bank can choose not to cash the check (its a private entity remember).

In general, I would not accept a personal check of that size for several reasons

1) Any amount of $10,000 MUST be reported to the government so they can investigate potential fraud claims.

2) Most banks will place a hold on the check until they've actually received the money from the originating bank, which usually takes 5-7 days.

Wire transfer will provide you (near) immediate access to the money.

Personal checks are not very secure, otherwise Catch Me If You Can wouldn't be a movie. Hence you're likely to be much happier using a different transfer mode.

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