At the first of the year, I was given a $13,000 cashiers check, drawn on BBVA Compass Bank. When I went to put it in my retirement account in September, Fidelity declined it as more than 180 days old.

This week I’m in an area with a BBVA Compass bank, so I took it in and asked for a replacement check. The bank says they can’t issue a new one because I don’t have an account there, even though I have two large CDs with them. They could cash it, they said—but they only have $20 bills!

They called around, but no one seemed able to make an exception to the “cashiers checks only for account holders” rule. I’m completely baffled about what harm that rule is intended to prevent.

I guess my only choices are to go around town and see if I can find a bank who’ll accept the check, or tote away a grocery bag with 650 twenties in it.

Open an account. Get your free toaster or whatever. As an account holder, have them write a cashier's check for the full balance of your account minus $0.01. Leave the penny in the account. Let them mail you statements.

What bank on this planet has only $20 bills? They are lying.

I like the way you think cbelt3!

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cbelt3
Open an account. Get your free toaster or whatever. As an account holder, have them write a cashier's check for the full balance of your account minus $0.01. Leave the penny in the account. Let them mail you statements.

Problem would be that if you don't keep a minimum balance, they'll probably start charging you fees.

I'd get the money in $20s, then take to your own financial institution and deposit it. If they complain and say they don't have enough cash on hand to give to you, arrange a time that they will have it on hand. I'll bet you get $100s.

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testcase
I like the way you think cbelt3!

It's based on personal experience...
Some 20 years ago a bank I had a small account in was bought by 5/3 bank. They unilaterally decided that they would close the account because I hadn't used it in six months. And took my $100. So I went and got it back. And gave them hell. And withdrew all but 2 cents. And let them send me statements for four years.

It's not just that bank, it's all banks.

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Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.

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cbelt3

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testcase
I like the way you think cbelt3!

It's based on personal experience...
Some 20 years ago a bank I had a small account in was bought by 5/3 bank. They unilaterally decided that they would close the account because I hadn't used it in six months. And took my $100. So I went and got it back. And gave them hell. And withdrew all but 2 cents. And let them send me statements for four years.

Nowaday's, all of the banks have minimum balance requirements and penalties. You'd owe $25/month on that two cents.

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