Why does a cashier's check take two weeks to clear?

ensign_lee · Mar 29, 2007

It's a CASHIER'S CHECK.

Why does a book have to wait two weeks for a cashier's check from a player to clear? It's not as though I sent them a personal check. Isn't guaranteed payment the reason people requirement in cashier's checks in teh first place?

TWO WEEKS???

:ughhh:

If anyone has a rational explanation for this, I'd love to hear it. At least that way, we'd all know why this policy exists.

ElJefe · Mar 29, 2007

Bank/cashier checks can still get stop payments put on them.

Hal01 · Mar 29, 2007

If you have a good relationship with your Financial Institution you can ask for them to waive the hold period.

lapdance · Mar 29, 2007

Is It From Another Country? I Had One A Month Ago In The States That Took 3 Days.

SportSavant · Mar 29, 2007

I deposited one in the ATM of one of my online banks a while back and it was held for 30 business days.

Its best to bank where you have a relationship for sure.

ensign_lee · Mar 29, 2007

Sorry. Maybe I wasn't clear.

The BOOK is saying that it's taking two weeks for MY cashier's check from Wells Fargo to clear before they credit my account.

SportSavant · Mar 29, 2007

ensign_lee said:
Sorry. Maybe I wasn't clear.

The BOOK is saying that it's taking two weeks for MY cashier's check from Wells Fargo to clear before they credit my account.

Oh,

hmmmm...... I see

I can understand their policy, I imagine that some books will give you credit for the deposit prior to the check clearing as a courtesy or a good will gesture, especialy if you have a long standing relationship with them.

Its possible if you do have a history with them and you speak to a supervisor they may be able to help you, not sure here.

aceduecetrey · Mar 29, 2007

Books get burned all the time, or I should say they use to get burned, by Cashiers Check not being good. I am surprised though that they will not let you play and just not allow you to w/d until it clears

CalvinTy · Mar 29, 2007

SportSavant said:
Oh,

hmmmm...... I see

I can understand their policy, I imagine that some books will give you credit for the deposit prior to the check clearing as a courtesy or a good will gesture, especialy if you have a long standing relationship with them.

Its possible if you do have a history with them and you speak to a supervisor they may be able to help you, not sure here.

I must have lucked out in February when I sent a cashier's check to a sponsor here (BetJam) for my FIRST time deposit. I did send them a link to a promotion they had on here.

After I gave them the FedEx tracking number, when it arrived to them, it was LITERALLY only minutes between the time from the person signing for the envelope and seeing my account reflect my $2K cashier's check amount.

Just mentioning this to point out that some great books would simply just credit your account even if you are a NEW customer (like I was) but if there are problems with the cashier's check, you wouldn't be able to withdraw funds until it's cleared or resolved.

* CalvinTy

ensign_lee · Mar 29, 2007

That's wierd.

It's theGreek that's being annoying. BetJam credited yours instantly?

Hmm...off to go find customer service.

CalvinTy · Mar 29, 2007

ensign_lee said:
That's wierd.

It's theGreek that's being annoying. BetJam credited yours instantly?

Hmm...off to go find customer service.

Yep, BetJam credited mine instantly. I still haven't made a withdrawal attempt yet because I'm happy there and actually am doing good there as well.

* CalvinTy