For example most checks are good for 90 or 120 days. If I have a cashier's check and don't see an expiration date on it, does it mean I can cash it even 5 years in the future? Does the bank it is written on have to be in business at the time it is cashed?
Update:this is a CASHIER'S CHECK. I already paid the bank cash to issue it so they don't have to cover anything. It is considered the same as cash. I'm not asking about other types of checks. It's CAHIER'S check. If you don't know the answer then state you don't know it I don't want wrong info!!
Verified answer
Technically NO checks expire unless they state ON THE FACE of the check that they expire on X date, or Y days after issued. However, banks are NOT required to honor 'stale' checks, and US banks almost universally consider checks stale after 6 months.
Yo ask if the bank it is written on must be in business when the check is cashed. The answer is always yes. If they are not in business, there is NOWHERE to go for the funds to cover the check. On the other hand, it is EXTREMELY unlikely the bank actually closed. Most likely, it was taken over by another bonk that would become liable for all legitimate claims against the original bank.
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RE:
Do cashier's checks have expiration dates?
For example most checks are good for 90 or 120 days. If I have a cashier's check and don't see an expiration date on it, does it mean I can cash it even 5 years in the future? Does the bank it is written on have to be in business at the time it is cashed?
Do Cashiers Checks Expire
I'd say look at the check and call the company it's drawn on or maybe there are directions on the back. No, you can't wait 5 years before cashing it. Companies turn in their information to the IRS yearly so at the most they would want you to cash it before the year is out. These days with places going out of business everyday in this poor economy I'd say to cash it as soon as possible. Yes, definitely a company has to be in business at the time it is cashed. Otherwise it would have to go thru the courts and you'd probably never get your money.
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A check is void after 90 days.
6 months if it is a personal check...