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Totally understandable. And it's a sad state of affairs when that's something an average citizen has to worry about when you're talking about legally obtained
by turc1656 9y ago
Totally understandable. And it's a sad state of affairs when that's something an average citizen has to worry about when you're talking about legally obtained and owned money.
Have you thought about a bank check? Pretty much every bank charges a fee for this. It's possible a credit union doesn't, but I suspect they probably still do. If this is a recurring transaction you do, then the fees will add up. But if it's not that frequent, this might be a good option for you. To protect yourself even further, I would fill out the To: on the check to yourself. In the past I have used "cash" to make it payable to whomever wishes to cash the bank check for convenience, but if you are just transferring between your own accounts, just put your name on it. I can't see any way an officer would be able to deposit that check on behalf of their department, even if they were crazy enough to confiscate it, which seems highly unlikely given that it's very hard to argue that such money which is going through the banking system is being used for illegal purposes. Even if it was, it's damn near impossible to prove they had any reasonable belief of that based on the information available to them at the time of the stop.
- jetti 9y agoThe problem with a check is that all the funds are not available right away. Typically I need to refresh my checking account in order to pay an upcoming bill (such as mortgage) because other expenses popped up and drained my account. Though a bank check would be better for times that aren't time sensitive.
- criddell 9y agoHave you ever asked your banker if they would make the funds immediately available? Mine will do that for me because I have more than a decade of history with them.
- turc1656 9y agoI could be wrong, but I believe bank checks are treated as cash because they are certified by the originating bank. They aren't like a regular check. They are considered to be a cash equivalent because it was issued by a licensed banking entity with a charter. I am pretty sure the funds clear immediately, or could be made available immediately with a request to the depositing bank. UPDATE - It seems this used to be true (or they would clear next day) but this has changed after an increase in fraudulent checks so many banks now wait until the check actually clears the originating institution.