Author Topic: Credit union will not cash cashier's check  (Read 4186 times)

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Credit union will not cash cashier's check
« on: April 30, 2018, 03:00:57 PM »
I've got a ~6 month old cashier's check that the issuing credit union is refusing to cash as they say it is no longer valid after 90 days. Complete BS as the 90 days is a bank specific policy, not some federal regulation. The cashier's check has not been reported lost and it has been no-where near long enough to send it to the state as unclaimed money. So they are basically holding the funds hostage. Talked to the teller and she called her supervisor. Neither would budge.

I have opened a complaint with both mycreditunion.gov and the BBB. Any other organization that I can open a complaint with?

Note: Having the person that gave me the check go through the process of cancelling it, re-issueing another one, etc is not an option.

Final update: Complaints with the BBB and the Texas Credit Union Department did the trick. They were sent to the credit union executive office. The credit union's VP of branch operations called me and let me know the local branch would now cash the check. Cashier's check has been cashed.
« Last Edit: May 09, 2018, 05:50:26 PM by Aggie1999 »

Gone Fishing

  • Magnum Stache
  • ******
  • Posts: 2754
  • So Close went fishing on April 1, 2016
    • Journal
Re: Credit union will not cash cashier's check
« Reply #1 on: April 30, 2018, 03:24:12 PM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #2 on: April 30, 2018, 03:29:38 PM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

I tried to cash the cashier's check at the issuing credit union. No account there. Cashier's check is a couple weeks over 180 days. Don't think that matters much though as the 90/180/etc days is a bank policy, not any type of government regulation, law, etc (based on my reading). What is sad is if this was a regular personal check I probably could have cashed it no problem.

Side note: I found the Texas credit union department and filed a complaint with them:

http://cud.texas.gov/consumer-resources/file-a-complaint-against-a-credit-union

Also trying to find email addresses of the executives of the credit union but not having much luck.

Gone Fishing

  • Magnum Stache
  • ******
  • Posts: 2754
  • So Close went fishing on April 1, 2016
    • Journal
Re: Credit union will not cash cashier's check
« Reply #3 on: April 30, 2018, 05:12:47 PM »
How much is it for?  Why did you sit on it?  I'd deposit it and see if it goes through.  Just give it 30 days or so before you spend/move the funds.  You might get hit with a returned item fee if it comes back, maybe $10, but it is worth a try if the size of the check warrants it.

I think the credit union should be able to reissue you the check without the original purchaser present.  If you want to go that route, Id try to get hold of someone in the compliance dept.

Undecided

  • Handlebar Stache
  • *****
  • Posts: 1081
Re: Credit union will not cash cashier's check
« Reply #4 on: April 30, 2018, 07:57:29 PM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

I tried to cash the cashier's check at the issuing credit union. No account there. Cashier's check is a couple weeks over 180 days. Don't think that matters much though as the 90/180/etc days is a bank policy, not any type of government regulation, law, etc (based on my reading). What is sad is if this was a regular personal check I probably could have cashed it no problem.

Side note: I found the Texas credit union department and filed a complaint with them:

http://cud.texas.gov/consumer-resources/file-a-complaint-against-a-credit-union

Also trying to find email addresses of the executives of the credit union but not having much luck.

If they have a clear policy, endorsed on the check, what's the nature of your (non-customer) complaint?

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #5 on: April 30, 2018, 08:31:47 PM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

I tried to cash the cashier's check at the issuing credit union. No account there. Cashier's check is a couple weeks over 180 days. Don't think that matters much though as the 90/180/etc days is a bank policy, not any type of government regulation, law, etc (based on my reading). What is sad is if this was a regular personal check I probably could have cashed it no problem.

Side note: I found the Texas credit union department and filed a complaint with them:

http://cud.texas.gov/consumer-resources/file-a-complaint-against-a-credit-union

Also trying to find email addresses of the executives of the credit union but not having much luck.

If they have a clear policy, endorsed on the check, what's the nature of your (non-customer) complaint?

Complaint is they have money legally owned by me floating around in their system but refuse to give it to me.

katsiki

  • Handlebar Stache
  • *****
  • Posts: 1428
  • Age: 39
  • Location: La.
Re: Credit union will not cash cashier's check
« Reply #6 on: April 30, 2018, 08:34:57 PM »

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #7 on: April 30, 2018, 08:37:05 PM »
You might try CFPB.

https://www.consumerfinance.gov/complaint/

Thanks. Didn't know about that one. Sounds like a good option.

"We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly."

Joel

  • Pencil Stache
  • ****
  • Posts: 774
  • Location: California
Re: Credit union will not cash cashier's check
« Reply #8 on: April 30, 2018, 08:43:16 PM »
Why did you wait over 180 days to cash the check?

Undecided

  • Handlebar Stache
  • *****
  • Posts: 1081
Re: Credit union will not cash cashier's check
« Reply #9 on: April 30, 2018, 09:06:09 PM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

I tried to cash the cashier's check at the issuing credit union. No account there. Cashier's check is a couple weeks over 180 days. Don't think that matters much though as the 90/180/etc days is a bank policy, not any type of government regulation, law, etc (based on my reading). What is sad is if this was a regular personal check I probably could have cashed it no problem.

Side note: I found the Texas credit union department and filed a complaint with them:

http://cud.texas.gov/consumer-resources/file-a-complaint-against-a-credit-union

Also trying to find email addresses of the executives of the credit union but not having much luck.

If they have a clear policy, endorsed on the check, what's the nature of your (non-customer) complaint?

Complaint is they have money legally owned by me floating around in their system but refuse to give it to me.

I think you misunderstand whatever claim you have against the payer as a claim against the bank, and you certainly misunderstand what is likely applicable law, but take it up with the CFPB. Oh, wait: https://www.consumerfinance.gov/ask-cfpb/the-bankcredit-union-refused-to-cash-a-check-because-it-was-more-than-six-months-old-is-this-allowed-en-933/


Undecided

  • Handlebar Stache
  • *****
  • Posts: 1081
Re: Credit union will not cash cashier's check
« Reply #10 on: April 30, 2018, 09:14:09 PM »
Despite thinking that complaint is unwarranted, I would try to deposit the check through an account at another bank. I would not assume the funds were mine for a while, though, even if my bank said it cleared.

JLee

  • Walrus Stache
  • *******
  • Posts: 5557
Re: Credit union will not cash cashier's check
« Reply #11 on: April 30, 2018, 09:15:17 PM »
Despite thinking that complaint is unwarranted, I would try to deposit the check through an account at another bank. I would not assume the funds were mine for a while, though, even if my bank said it cleared.

That's what I would do as well. Just deposit it into an account and wait a month before relying on the funds for anything.

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #12 on: April 30, 2018, 11:15:56 PM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

I tried to cash the cashier's check at the issuing credit union. No account there. Cashier's check is a couple weeks over 180 days. Don't think that matters much though as the 90/180/etc days is a bank policy, not any type of government regulation, law, etc (based on my reading). What is sad is if this was a regular personal check I probably could have cashed it no problem.

Side note: I found the Texas credit union department and filed a complaint with them:

http://cud.texas.gov/consumer-resources/file-a-complaint-against-a-credit-union

Also trying to find email addresses of the executives of the credit union but not having much luck.

If they have a clear policy, endorsed on the check, what's the nature of your (non-customer) complaint?

Complaint is they have money legally owned by me floating around in their system but refuse to give it to me.

I think you misunderstand whatever claim you have against the payer as a claim against the bank, and you certainly misunderstand what is likely applicable law, but take it up with the CFPB. Oh, wait: https://www.consumerfinance.gov/ask-cfpb/the-bankcredit-union-refused-to-cash-a-check-because-it-was-more-than-six-months-old-is-this-allowed-en-933/

Not sure why you think my claim is against the payer for a cashier's check. Texas is pretty clear that the funds represented by the cashier's check are legally owed to the payee (me):

https://comptroller.texas.gov/taxes/audit/docs/up-manual.pdf

Some relevant snippets:

"The owner of a check is the payee."

"Some holders will assert that simply printing VOID AFTER 90 DAYS or something similar on all their check stock exempts them from unclaimed property reporting. It doesnít. The check itself may be void, but the debt to the payee remains, and it is the money owed that is subsequently reported as unclaimed, not the piece of paper."

Concerning your link about 180 day "stale checks", here's some reading material about how cashier's checks do not go "stale":

https://www.law.cornell.edu/ucc/4/4-404

https://www.bankersonline.com/qa/do-cashiers-checks-become-stale-dated

https://pocketsense.com/certified-check-go-stale-8340511.html

plog

  • Stubble
  • **
  • Posts: 212
Re: Credit union will not cash cashier's check
« Reply #13 on: May 01, 2018, 07:09:04 AM »
1. Judge Judy 101: The check is simply an instrument of an agreement.  Presumably you had an agreement with whoever paid you via cashier's check.  You have no arrangement at all with the cashier check issuer. So the person who owes you funds is the person who purchased the cashier's check.

2.  You are not going to beat a large beaucracy (the bank) with a larger beaucracy (the governement).  The larger beaucracy cares even less about you than the large beaucracy.

3.  If you have your heart set on getting your pound of flesh the hard way and making that cashier's check good, the only possible (not probable, though) way to do that is to become a loud asshole. Annoy the shit out of the bank, call everyone at the bank, raise hell, make idle threats like reporting them to government agenciies, post on social media.  Make them want to make you just go away. 

Really, that's the only option I see you have in making that cashier's check good.  It's not the best option, but it seems like that's what you have your heart set on.

« Last Edit: May 01, 2018, 07:11:00 AM by plog »

JLee

  • Walrus Stache
  • *******
  • Posts: 5557
Re: Credit union will not cash cashier's check
« Reply #14 on: May 01, 2018, 07:40:07 AM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

I tried to cash the cashier's check at the issuing credit union. No account there. Cashier's check is a couple weeks over 180 days. Don't think that matters much though as the 90/180/etc days is a bank policy, not any type of government regulation, law, etc (based on my reading). What is sad is if this was a regular personal check I probably could have cashed it no problem.

Side note: I found the Texas credit union department and filed a complaint with them:

http://cud.texas.gov/consumer-resources/file-a-complaint-against-a-credit-union

Also trying to find email addresses of the executives of the credit union but not having much luck.

If they have a clear policy, endorsed on the check, what's the nature of your (non-customer) complaint?

Complaint is they have money legally owned by me floating around in their system but refuse to give it to me.

I think you misunderstand whatever claim you have against the payer as a claim against the bank, and you certainly misunderstand what is likely applicable law, but take it up with the CFPB. Oh, wait: https://www.consumerfinance.gov/ask-cfpb/the-bankcredit-union-refused-to-cash-a-check-because-it-was-more-than-six-months-old-is-this-allowed-en-933/

Not sure why you think my claim is against the payer for a cashier's check. Texas is pretty clear that the funds represented by the cashier's check are legally owed to the payee (me):

https://comptroller.texas.gov/taxes/audit/docs/up-manual.pdf

Some relevant snippets:

"The owner of a check is the payee."

"Some holders will assert that simply printing VOID AFTER 90 DAYS or something similar on all their check stock exempts them from unclaimed property reporting. It doesnít. The check itself may be void, but the debt to the payee remains, and it is the money owed that is subsequently reported as unclaimed, not the piece of paper."

Concerning your link about 180 day "stale checks", here's some reading material about how cashier's checks do not go "stale":

https://www.law.cornell.edu/ucc/4/4-404

https://www.bankersonline.com/qa/do-cashiers-checks-become-stale-dated

https://pocketsense.com/certified-check-go-stale-8340511.html

Just deposit it in a bank account and move on with your life.
« Last Edit: May 01, 2018, 07:44:21 AM by JLee »

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #15 on: May 01, 2018, 07:54:40 AM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

I tried to cash the cashier's check at the issuing credit union. No account there. Cashier's check is a couple weeks over 180 days. Don't think that matters much though as the 90/180/etc days is a bank policy, not any type of government regulation, law, etc (based on my reading). What is sad is if this was a regular personal check I probably could have cashed it no problem.

Side note: I found the Texas credit union department and filed a complaint with them:

http://cud.texas.gov/consumer-resources/file-a-complaint-against-a-credit-union

Also trying to find email addresses of the executives of the credit union but not having much luck.

If they have a clear policy, endorsed on the check, what's the nature of your (non-customer) complaint?

Complaint is they have money legally owned by me floating around in their system but refuse to give it to me.

I think you misunderstand whatever claim you have against the payer as a claim against the bank, and you certainly misunderstand what is likely applicable law, but take it up with the CFPB. Oh, wait: https://www.consumerfinance.gov/ask-cfpb/the-bankcredit-union-refused-to-cash-a-check-because-it-was-more-than-six-months-old-is-this-allowed-en-933/

Not sure why you think my claim is against the payer for a cashier's check. Texas is pretty clear that the funds represented by the cashier's check are legally owed to the payee (me):

https://comptroller.texas.gov/taxes/audit/docs/up-manual.pdf

Some relevant snippets:

"The owner of a check is the payee."

"Some holders will assert that simply printing VOID AFTER 90 DAYS or something similar on all their check stock exempts them from unclaimed property reporting. It doesnít. The check itself may be void, but the debt to the payee remains, and it is the money owed that is subsequently reported as unclaimed, not the piece of paper."

Concerning your link about 180 day "stale checks", here's some reading material about how cashier's checks do not go "stale":

https://www.law.cornell.edu/ucc/4/4-404

https://www.bankersonline.com/qa/do-cashiers-checks-become-stale-dated

https://pocketsense.com/certified-check-go-stale-8340511.html

Just in case you missed that part. ;)

Just deposit it in a bank account and move on with your life.

Nope, didn't miss that. What I quoted was in reference to some in this thread thinking my claim is against the person who purchased the cashier's check, not the issuing bank. They don't seem to understand the difference between a normal check and a cashier's check.

Not sure about depositing it in a bank and trusting that I would get it back if it was declined. Also would be out the return fee my bank would charge. In the end, if the issuing bank follows Texas regulations and reports the funds as unclaimed in ~2.5 years, I can claim the money from the state with the cashier's check as proof the money is owed to me. Until then, opening a few complaints with the BBB, government agencies, etc is not that much work.

JLee

  • Walrus Stache
  • *******
  • Posts: 5557
Re: Credit union will not cash cashier's check
« Reply #16 on: May 01, 2018, 08:16:34 AM »
Do you have an account at the credit union? Or is it the issuing bank? 180 days is the usual stale date on checks.  Are you under or over?  If you are under 180 days, deposit it in your account.

I tried to cash the cashier's check at the issuing credit union. No account there. Cashier's check is a couple weeks over 180 days. Don't think that matters much though as the 90/180/etc days is a bank policy, not any type of government regulation, law, etc (based on my reading). What is sad is if this was a regular personal check I probably could have cashed it no problem.

Side note: I found the Texas credit union department and filed a complaint with them:

http://cud.texas.gov/consumer-resources/file-a-complaint-against-a-credit-union

Also trying to find email addresses of the executives of the credit union but not having much luck.

If they have a clear policy, endorsed on the check, what's the nature of your (non-customer) complaint?

Complaint is they have money legally owned by me floating around in their system but refuse to give it to me.

I think you misunderstand whatever claim you have against the payer as a claim against the bank, and you certainly misunderstand what is likely applicable law, but take it up with the CFPB. Oh, wait: https://www.consumerfinance.gov/ask-cfpb/the-bankcredit-union-refused-to-cash-a-check-because-it-was-more-than-six-months-old-is-this-allowed-en-933/

Not sure why you think my claim is against the payer for a cashier's check. Texas is pretty clear that the funds represented by the cashier's check are legally owed to the payee (me):

https://comptroller.texas.gov/taxes/audit/docs/up-manual.pdf

Some relevant snippets:

"The owner of a check is the payee."

"Some holders will assert that simply printing VOID AFTER 90 DAYS or something similar on all their check stock exempts them from unclaimed property reporting. It doesnít. The check itself may be void, but the debt to the payee remains, and it is the money owed that is subsequently reported as unclaimed, not the piece of paper."

Concerning your link about 180 day "stale checks", here's some reading material about how cashier's checks do not go "stale":

https://www.law.cornell.edu/ucc/4/4-404

https://www.bankersonline.com/qa/do-cashiers-checks-become-stale-dated

https://pocketsense.com/certified-check-go-stale-8340511.html

Just in case you missed that part. ;)

Just deposit it in a bank account and move on with your life.

Nope, didn't miss that. What I quoted was in reference to some in this thread thinking my claim is against the person who purchased the cashier's check, not the issuing bank. They don't seem to understand the difference between a normal check and a cashier's check.

Not sure about depositing it in a bank and trusting that I would get it back if it was declined. Also would be out the return fee my bank would charge. In the end, if the issuing bank follows Texas regulations and reports the funds as unclaimed in ~2.5 years, I can claim the money from the state with the cashier's check as proof the money is owed to me. Until then, opening a few complaints with the BBB, government agencies, etc is not that much work.

Waiting for it to get sent to the state as unclaimed property is probably the most ridiculous plan in this thread, but hey it's your time.

Undecided

  • Handlebar Stache
  • *****
  • Posts: 1081
Re: Credit union will not cash cashier's check
« Reply #17 on: May 01, 2018, 08:20:04 AM »

Not sure why you think my claim is against the payer for a cashier's check. Texas is pretty clear that the funds represented by the cashier's check are legally owed to the payee (me):

https://comptroller.texas.gov/taxes/audit/docs/up-manual.pdf

Some relevant snippets:

"The owner of a check is the payee."

"Some holders will assert that simply printing VOID AFTER 90 DAYS or something similar on all their check stock exempts them from unclaimed property reporting. It doesnít. The check itself may be void, but the debt to the payee remains, and it is the money owed that is subsequently reported as unclaimed, not the piece of paper."

Concerning your link about 180 day "stale checks", here's some reading material about how cashier's checks do not go "stale":

https://www.law.cornell.edu/ucc/4/4-404

https://www.bankersonline.com/qa/do-cashiers-checks-become-stale-dated

https://pocketsense.com/certified-check-go-stale-8340511.html

If you displayed the same combination of abrasiveness and confidence in mistaken beliefs at the CU, perhaps that wasnít the best way to get people there to help you. First, if the bank were to escheat the funds, the payee is the owner. Have they disputed that? Thatís really all thatís being established in your TX link. Second, the UCC is not ďthe law,Ē but assuming TX has adopted UCC 4 in model form, you seem to be concluding that the carve-out for ďcertifiedĒ checks applies here, but you never said it was a certified check. A cashierís check isnít the same thing. Iím all for consumer complaints when financial institutions donít live up to their obligations, but thatís not what youíre describing, and youíre not their customer (that youíve mentioned), so although I see how you may feel like youíre getting the run-around, itís ultimately their customers/owners that theyíre protecting.

 Before depositing at your own bank, you might try calling into the real managerial offices of the CU (not the local branch) to see if you can get in touch with someone in their compliance department to ask what you need to do to get paid without putting the CU in a position where itís not observing applicable rules (including its own).
« Last Edit: May 01, 2018, 08:30:46 AM by Undecided »

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #18 on: May 01, 2018, 09:04:41 AM »

Not sure why you think my claim is against the payer for a cashier's check. Texas is pretty clear that the funds represented by the cashier's check are legally owed to the payee (me):

https://comptroller.texas.gov/taxes/audit/docs/up-manual.pdf

Some relevant snippets:

"The owner of a check is the payee."

"Some holders will assert that simply printing VOID AFTER 90 DAYS or something similar on all their check stock exempts them from unclaimed property reporting. It doesnít. The check itself may be void, but the debt to the payee remains, and it is the money owed that is subsequently reported as unclaimed, not the piece of paper."

Concerning your link about 180 day "stale checks", here's some reading material about how cashier's checks do not go "stale":

https://www.law.cornell.edu/ucc/4/4-404

https://www.bankersonline.com/qa/do-cashiers-checks-become-stale-dated

https://pocketsense.com/certified-check-go-stale-8340511.html

If you displayed the same combination of abrasiveness and confidence in mistaken beliefs at the CU, perhaps that wasnít the best way to get people there to help you. First, if the bank were to escheat the funds, the payee is the owner. Have they disputed that? Thatís really all thatís being established in your TX link. Second, the UCC is not ďthe law,Ē but assuming TX has adopted UCC 4 in model form, you seem to be concluding that the carve-out for ďcertifiedĒ checks applies here, but you never said it was a certified check. A cashierís check isnít the same thing. Iím all for consumer complaints when financial institutions donít live up to their obligations, but thatís not what youíre describing, and youíre not their customer (that youíve mentioned), so although I see how you may feel like youíre getting the run-around, itís ultimately their customers/owners that theyíre protecting.

 Before depositing at your own bank, you might try calling into the real managerial offices of the CU (not the local branch) to see if you can get in touch with someone in their compliance department to ask what you need to do to get paid without putting the CU in a position where itís not observing applicable rules (including its own).

Not going to continue the insults stuff. Will just point you to the second link I posted about stale checks as they relate to cashier's/certified checks. Snippet:

"The six-month "stale date" rule in UCC Section 4-404 only applies to checks drawn on checking accounts. It does not apply to cashier's check or certified checks."

While that link is not a regulatory/state link, based on looking at the author's profile he probably knows more about this than you or me.

Concerning Texas and the UCC, I would assume Texas law/regulations is based on that. From the third link:

"Laws related to the negotiation of checks are set at the state rather than federal level, but all 50 states have banking laws that are based on the Uniform Commercial Code. This code, which was created by lawyers to facilitate interstate commerce, states that banks do not have to honor checks that are more than six months old. However, certified checks, travelers checks and money orders are exempted from this provision of the UCC and banks must honor these items."
« Last Edit: May 01, 2018, 09:08:57 AM by Aggie1999 »

Sibley

  • Magnum Stache
  • ******
  • Posts: 3523
  • Location: Chicago, IL
Re: Credit union will not cash cashier's check
« Reply #19 on: May 01, 2018, 09:21:51 AM »
Take the cashier's check to your bank. POLITELY talk to them, explain the problem, and ask what they suggest you do. My guess is they're going to tell you to deposit it in your account, but you never know.

In future, don't sit on checks, of whatever type, for 6 months. Use this experience as a lesson in what happens when you don't have your act together.

AZDude

  • Handlebar Stache
  • *****
  • Posts: 1298
Re: Credit union will not cash cashier's check
« Reply #20 on: May 01, 2018, 09:31:25 AM »
First, do not be an abrasive a-hole to some random teller at the bank. This not only makes you a bad human being, it will also no solve you problem. Instead ask "how do I get my money, what is the best way". They will tell you. Most likely it is just confirming the check is legit and re-issuing it. There are probably a few hoops to jump through. Understand that this situation is *your fault* for sitting on a check for 6 months despite the check clearly stating it is only good for 90 days.

Fraud via cashier's check is rather common, so some rules about how to issue/cash them are understandable. What has the bank told you regarding the best way to get your money?

chasesfish

  • Magnum Stache
  • ******
  • Posts: 3082
  • Age: 37
  • Location: Texas
    • Years in the making, I created a journal!
Re: Credit union will not cash cashier's check
« Reply #21 on: May 01, 2018, 12:08:29 PM »
Why not just deposit the check at your bank?  Its been 6 months, why is it suddenly so urgent to get the money?

dragoncar

  • Walrus Stache
  • *******
  • Posts: 8618
  • Registered member
Re: Credit union will not cash cashier's check
« Reply #22 on: May 01, 2018, 12:55:27 PM »
Posting to find out if we ever learn the origin of the check from hell

Slee_stack

  • Pencil Stache
  • ****
  • Posts: 854
Re: Credit union will not cash cashier's check
« Reply #23 on: May 01, 2018, 12:59:43 PM »
Sounds like the OP is chasing the principle.  The actual principal is secondary. 

Ba-dum-dum..ching


Jtrey17

  • Stubble
  • **
  • Posts: 112
Re: Credit union will not cash cashier's check
« Reply #24 on: May 01, 2018, 03:07:40 PM »
Sounds like the OP is chasing the principle.  The actual principal is secondary. 

Ba-dum-dum..ching
Nice

Rosy

  • Handlebar Stache
  • *****
  • Posts: 2089
  • Location: Florida
Re: Credit union will not cash cashier's check
« Reply #25 on: May 02, 2018, 08:54:49 AM »
Take the cashier's check to your bank. POLITELY talk to them, explain the problem, and ask what they suggest you do. My guess is they're going to tell you to deposit it in your account, but you never know.

In future, don't sit on checks, of whatever type, for 6 months. Use this experience as a lesson in what happens when you don't have your act together.

This ^^^ and this:

Quote
Before depositing at your own bank, you might try calling into the real managerial offices of the CU (not the local branch) to see if you can get in touch with someone in their compliance department to ask what you need to do to get paid without putting the CU in a position where itís not observing applicable rules (including its own).

That ^^^ is excellent advice!

... and of course, the mystifying silence about why this check was not cashed sooner:

Posting to find out if we ever learn the origin of the check from hell

Maybe it just falls into the category of "sh$t happens".
There is a fine or not so fine:) line between politely, but relentlessly pursuing an issue and bludgeoning a teller/local supervisor who are obligated to follow the rules of their employer and therefore cannot give you any satisfaction.
 
I've no idea why one would even consider waiting 2-3 years to make a potential unclaimed property claim - that just seems so wrong on so many levels, not to mention odd and perplexing.

Good Luck in your quest.

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #26 on: May 02, 2018, 09:32:13 AM »
Few points since people keep asking:

- Reason for not cashing the check sooner is "sh$t happens". Busy time in my life (moving day I got the check) so I put the check in a place I knew I wouldn't lose it. Guess too secure of a place as I forgot about it. "Sh$t happens" and happens to everyone at some point...
- Not sure why I am being accused of being rude/bludgeoning the teller/local supervisor. Had one interaction with them and was pretty courteous. Thus the reason I posted this thread to find out what my next steps could be.
- The unclaimed property plan is obviously a last step if I can't get the management at the credit union to cash this check. Not sure why people seem to think that is my primary plan.
- Before someone asks again, I will repeat that I don't think trying to deposit the check at my local bank is a good course of action as I would no longer have possession of the check and am not going to risk it making it back to me as a returned check.
- Check is more than a few dollars so it's worth trying to get the issuing bank to cash it instead of writing it off.

Anyways, I'm done with this thread until I have a resolution one way or the other. I'll post an update then. To those that offered suggestions on how to proceed, I thank them.

frugaliknowit

  • Handlebar Stache
  • *****
  • Posts: 1662
Re: Credit union will not cash cashier's check
« Reply #27 on: May 02, 2018, 09:59:59 AM »
Like it or not:  Banks HATE cashing checks of any size, much more so a check that old.

Either deposit it, see if it clears.

Or, go back to the person who had it issued and ask them to pay you either in cash or with a different check and PUT IT THROUGH, DON'T PROCRASTINATE!

JLee

  • Walrus Stache
  • *******
  • Posts: 5557
Re: Credit union will not cash cashier's check
« Reply #28 on: May 02, 2018, 10:19:37 AM »
Like it or not:  Banks HATE cashing checks of any size, much more so a check that old.

Either deposit it, see if it clears.

Or, go back to the person who had it issued and ask them to pay you either in cash or with a different check and PUT IT THROUGH, DON'T PROCRASTINATE!

Funds have left the account of the person who had it issued -- they don't owe anything.

dragoncar

  • Walrus Stache
  • *******
  • Posts: 8618
  • Registered member
Re: Credit union will not cash cashier's check
« Reply #29 on: May 02, 2018, 10:50:43 AM »
Seems like the takeaway is that cashiers checks are crap.  There are very few uses for them these days.  Some payees feel like they improve security, but as we can see it may leave the recipient with less recourse.  IMO when you are dealing with significant money that canít bounce, use wire transfer

I struggle to think of a circumstance in which cashiers check is the best choice

dragoncar

  • Walrus Stache
  • *******
  • Posts: 8618
  • Registered member
Re: Credit union will not cash cashier's check
« Reply #30 on: May 02, 2018, 10:55:23 AM »
Btw it looks like the original purchaser can typically get a refund on the check if not paid within the ďGood untilĒ date : https://www.quora.com/Can-I-cancel-cashiers-check-and-get-reimbursed


chasesfish

  • Magnum Stache
  • ******
  • Posts: 3082
  • Age: 37
  • Location: Texas
    • Years in the making, I created a journal!
Re: Credit union will not cash cashier's check
« Reply #31 on: May 02, 2018, 10:59:51 AM »
Few points since people keep asking:

- Reason for not cashing the check sooner is "sh$t happens". Busy time in my life (moving day I got the check) so I put the check in a place I knew I wouldn't lose it. Guess too secure of a place as I forgot about it. "Sh$t happens" and happens to everyone at some point...
- Not sure why I am being accused of being rude/bludgeoning the teller/local supervisor. Had one interaction with them and was pretty courteous. Thus the reason I posted this thread to find out what my next steps could be.
- The unclaimed property plan is obviously a last step if I can't get the management at the credit union to cash this check. Not sure why people seem to think that is my primary plan.
- Before someone asks again, I will repeat that I don't think trying to deposit the check at my local bank is a good course of action as I would no longer have possession of the check and am not going to risk it making it back to me as a returned check.
- Check is more than a few dollars so it's worth trying to get the issuing bank to cash it instead of writing it off.

Anyways, I'm done with this thread until I have a resolution one way or the other. I'll post an update then. To those that offered suggestions on how to proceed, I thank them.

So, as a person who works for a bank....you're bank is going to image the check and submit that image for payment.  If its rejected, the original item is returned to the branch or to you directly.   My institution just scans the teller "work" and retains it for 30 days on-site.  If a check is returned, its there at the branch and we call the client.

e34bb098

  • 5 O'Clock Shadow
  • *
  • Posts: 83
Re: Credit union will not cash cashier's check
« Reply #32 on: May 02, 2018, 11:53:24 AM »
I don't know about TX law, but in CA law there is no such thing as a stale-dated cashier's check.  They are guaranteed funds and must be paid.  After three years the funds are escheated, but before that the item must be negotiated (unless it has already been paid, the bank has reason to suspect fraud, etc.).

Some options for the OP:

- Talk to your banker.  A good first step no matter what direction you go.

- Deposit it into your bank account.  Yes, there is the possibility it will be returned, but it probably won't be.  And if it is, you get a legal copy, so you are back at square one.  (Less a returned check fee of a few bucks.)

- See if the credit union will exchange it for a new cashier's check.  They can check to make sure it hasn't been paid, so there is no risk to them.  You might be out a few bucks for the cashier's check fee.

- Politely escalate.  Bring in copies of the relevant law if necessary.  Credit unions are typically pretty small, so it shouldn't take you long to get to whoever is in charge of Operational Administration or whatever they call it.

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #33 on: May 02, 2018, 12:04:18 PM »
Like it or not:  Banks HATE cashing checks of any size, much more so a check that old.

Either deposit it, see if it clears.

Or, go back to the person who had it issued and ask them to pay you either in cash or with a different check and PUT IT THROUGH, DON'T PROCRASTINATE!

Funds have left the account of the person who had it issued -- they don't owe anything.

Exactly! Admittedly, that's why I got frustrated with some of the responses in this thread about treating it like a normal check. Funds left the purchasers account the day the check was cut. The funds must be in the credit union's system. In my mind not really any type of chasing involved other than working around the credit union bureaucracy.

If the supervisor had said something like, "We can't cash it today, but if you fill out this form so we can make sure that it was not reported as lost, then we'll cash it for you later", I'd be fine with that. The answer I got though was have the purchaser report it as lost and then have them buy another one and give it to me. As stated in first post, not an option in my case. I asked if there was any other option or escalation path and was told no.

Hopefully the credit union organization and BBB complaints I opened will get the issue escalated to the right people. In my experience, upper level management and executive offices don't like receiving complaints.

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #34 on: May 02, 2018, 12:06:30 PM »
Few points since people keep asking:

- Reason for not cashing the check sooner is "sh$t happens". Busy time in my life (moving day I got the check) so I put the check in a place I knew I wouldn't lose it. Guess too secure of a place as I forgot about it. "Sh$t happens" and happens to everyone at some point...
- Not sure why I am being accused of being rude/bludgeoning the teller/local supervisor. Had one interaction with them and was pretty courteous. Thus the reason I posted this thread to find out what my next steps could be.
- The unclaimed property plan is obviously a last step if I can't get the management at the credit union to cash this check. Not sure why people seem to think that is my primary plan.
- Before someone asks again, I will repeat that I don't think trying to deposit the check at my local bank is a good course of action as I would no longer have possession of the check and am not going to risk it making it back to me as a returned check.
- Check is more than a few dollars so it's worth trying to get the issuing bank to cash it instead of writing it off.

Anyways, I'm done with this thread until I have a resolution one way or the other. I'll post an update then. To those that offered suggestions on how to proceed, I thank them.

So, as a person who works for a bank....you're bank is going to image the check and submit that image for payment.  If its rejected, the original item is returned to the branch or to you directly.   My institution just scans the teller "work" and retains it for 30 days on-site.  If a check is returned, its there at the branch and we call the client.

Thank you for the info!

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #35 on: May 02, 2018, 12:14:35 PM »
I don't know about TX law, but in CA law there is no such thing as a stale-dated cashier's check.  They are guaranteed funds and must be paid.  After three years the funds are escheated, but before that the item must be negotiated (unless it has already been paid, the bank has reason to suspect fraud, etc.).

Some options for the OP:

- Talk to your banker.  A good first step no matter what direction you go.

- Deposit it into your bank account.  Yes, there is the possibility it will be returned, but it probably won't be.  And if it is, you get a legal copy, so you are back at square one.  (Less a returned check fee of a few bucks.)

- See if the credit union will exchange it for a new cashier's check.  They can check to make sure it hasn't been paid, so there is no risk to them.  You might be out a few bucks for the cashier's check fee.

- Politely escalate.  Bring in copies of the relevant law if necessary.  Credit unions are typically pretty small, so it shouldn't take you long to get to whoever is in charge of Operational Administration or whatever they call it.

Thanks you for the info and advice. I suspect there is a similar law in Texas but can't find it via Google. Just general references, not state specific, about stale dating is not legal on cashier's checks.

Sibley

  • Magnum Stache
  • ******
  • Posts: 3523
  • Location: Chicago, IL
Re: Credit union will not cash cashier's check
« Reply #36 on: May 02, 2018, 02:26:27 PM »
Aggie, cashier's checks have been around for a long time. The banks have established policies and procedures to handle them, even when the customer (you) screws up and loses it for 6 months. Yeah, I get why it happened, but I still hold you accountable.

Take the damn check to your bank and talk to them. If you don't think that the person you're talking to knows what the hell they're talking about, ask to speak with the supervisor. You're tying yourself up in knots because you don't want to go to the branch and talk to a person about a problem you caused and they most likely know exactly how to fix. I call BS - so get off your tush and move.

solon

  • Handlebar Stache
  • *****
  • Posts: 1568
  • Age: 1818
  • Location: CO
Re: Credit union will not cash cashier's check
« Reply #37 on: May 02, 2018, 02:28:53 PM »
Facepunch delivered! Good job, Sibley!

dragoncar

  • Walrus Stache
  • *******
  • Posts: 8618
  • Registered member
Re: Credit union will not cash cashier's check
« Reply #38 on: May 03, 2018, 03:14:07 AM »
Few points since people keep asking:

- Reason for not cashing the check sooner is "sh$t happens". Busy time in my life (moving day I got the check) so I put the check in a place I knew I wouldn't lose it. Guess too secure of a place as I forgot about it. "Sh$t happens" and happens to everyone at some point...
- Not sure why I am being accused of being rude/bludgeoning the teller/local supervisor. Had one interaction with them and was pretty courteous. Thus the reason I posted this thread to find out what my next steps could be.
- The unclaimed property plan is obviously a last step if I can't get the management at the credit union to cash this check. Not sure why people seem to think that is my primary plan.
- Before someone asks again, I will repeat that I don't think trying to deposit the check at my local bank is a good course of action as I would no longer have possession of the check and am not going to risk it making it back to me as a returned check.
- Check is more than a few dollars so it's worth trying to get the issuing bank to cash it instead of writing it off.

Anyways, I'm done with this thread until I have a resolution one way or the other. I'll post an update then. To those that offered suggestions on how to proceed, I thank them.

So, as a person who works for a bank....you're bank is going to image the check and submit that image for payment.  If its rejected, the original item is returned to the branch or to you directly.   My institution just scans the teller "work" and retains it for 30 days on-site.  If a check is returned, its there at the branch and we call the client.



Mentioning imaging -- can you use e-deposit?  Then you keep the physical copy.  I think I've e-deposited a cashier's check before.

NoStacheOhio

  • Handlebar Stache
  • *****
  • Posts: 2143
  • Location: Cleveland
Re: Credit union will not cash cashier's check
« Reply #39 on: May 03, 2018, 10:52:04 AM »
Mentioning imaging -- can you use e-deposit?  Then you keep the physical copy.  I think I've e-deposited a cashier's check before.

That was my first thought.

Depends on the amount though. My banks all have rolling ~$10k limits for mobile deposit.

tomorrowsomewherenew

  • Stubble
  • **
  • Posts: 121
  • Location: Florida
Re: Credit union will not cash cashier's check
« Reply #40 on: May 04, 2018, 05:53:23 AM »
I agree with the other posters suggesting an e-deposit. I've deposited stale checks this way many times. I haven't had a problem yet.

Gronnie

  • Bristles
  • ***
  • Posts: 270
  • Age: 33
  • Location: Orange County, CA
Re: Credit union will not cash cashier's check
« Reply #41 on: May 04, 2018, 12:17:37 PM »
I would either e-deposit or ATM deposit the check. I would say 95%+ possibility it goes through with no issues.

It's my experience that ATM deposits must hardly get looked at, just processed quickly. I used to have to do this all the time with foreign checks from online poker winnings. If I deposited at a teller there was always a long hold involved, but when deposited via ATM funds available next day like any other check. They always cleared.

Aggie1999

  • Bristles
  • ***
  • Posts: 370
Re: Credit union will not cash cashier's check
« Reply #42 on: May 09, 2018, 05:49:39 PM »
Final update: Complaints with the BBB and the Texas Credit Union Department did the trick. They were sent to the credit union executive office. The credit union's VP of branch operations called me and let me know the local branch would now cash the check. Cashier's check has been cashed.

Gone Fishing

  • Magnum Stache
  • ******
  • Posts: 2754
  • So Close went fishing on April 1, 2016
    • Journal
Re: Credit union will not cash cashier's check
« Reply #43 on: May 09, 2018, 07:57:01 PM »
Good work!