How long is a Cashier's check "good"? - John Burnett

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How long is a Cashier's check "good"?
by John Burnett, BOL Guru
BIO AND CONTACT INFO

Question: How long are cashier's checks good? Is there a new ruling that says they are only good for 10 years?

Answer: To paraphrase our ex-president, that depends on what your definition of "good" is.

The deposit represented by the check will escheat to the appropriate state treasury at the legal time for such events. But the claim represented by the check is valid for as long as the state's escheat law provides for. The difference is that a claim for the funds will have to be placed with the state treasury after escheatment.

But the bank won't have to honor the check after it has escheated the deposit.

First published on BankersOnline.com 09/2/03

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