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Advice on large cash payment
December 06, 2020, 04:01 PM
McGregorAdvice on large cash payment
My father died in January. We are settling part of the estate and I need to send my nephew in North Carolina 24K, I live in Michigan.
The thought of sending any kind of check that large through the USPS, Fed Ex or UPS kind of scares me.
What other options do I have?
December 06, 2020, 04:03 PM
NismoDirect transfer bank to bank.
December 06, 2020, 04:03 PM
CPD SIGWire transfer from your bank account to his.
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December 06, 2020, 04:03 PM
RogueJSKBank wire transfer.
December 06, 2020, 04:11 PM
BeancookerAs stated, wire transfer.
quote:
Originally posted by parabellum: You must have your pants custom tailored to fit your massive balls.
The “lol” thread December 06, 2020, 04:18 PM
cheesegritsThe check should be drawn on an estate or trust account. We (my law office) routinely send small to moderate sized checks to beneficiaries and the IRS via USPS and UPS.
Sometimes we wire the funds. The last money transfer we did we had the banks on each end arrange for an ACH transfer. That was super simple.
December 06, 2020, 04:45 PM
ZSMICHAELACH transfer.
December 06, 2020, 04:48 PM
MikeGLII was gonna say $1s and $5s but a wire makes more sense.
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Steak: Rare. Coffee: Black. Bourbon: Neat. December 06, 2020, 06:00 PM
220-9erWhat's the concern about sending a check? In the unlikely event that it was lost or stolen you can deal with that easily.
Should take a few days then confirm receipt with tracking or a phone call. Then he deposits the check. No big deal. There will be a record to the payment and deposit. The other option is a wire transfer directly to his account. Costs about $35 at most banks.
Based on the title of the post I thought you were considering a large amount of greenbacks. That I wouldn't do.
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December 06, 2020, 06:07 PM
cparktdElectronic transfer.
When I settled my Dad's estate and I was ready to disperse the funds the bank holding the funds did all the work. I only needed the account and routing numbers for my out of town brothers. Fast, secure and easy. They already had his death cert and my executorship papers on file and charged nothing for the service.
If it ain't woke... don't fix it. December 06, 2020, 06:24 PM
WoodmanUSPS Priority Flat Rate Envelope with signature confirmation.
December 06, 2020, 06:39 PM
Batty67I am executor for my deceased parents. I sent larger amounts to my brother via back wire transfer.
December 06, 2020, 07:31 PM
nshumwayI agree wire- you don't want that much cash getting lost.
December 06, 2020, 08:14 PM
bendableEasy way: Direct Xfer
Or
Find a bank in your town that has a bank in his town.
Both put your names on same account,
Deposit the money and he takes it out at his leisure
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December 06, 2020, 08:28 PM
MikeinNCI like the way Bendable thinks...no need to pay the bank for them to wire money!
If you (sender) have a bank near you that he (nephew) uses and has an account, just go make a deposit to the nephews account.
If not, then priority mail (USPS) or FEDEX a letter wi5 a check that is signature required and traceable...
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“A single round of buckshot to the torso almost always results in an immediate change of behavior.” Chris Baker December 06, 2020, 08:49 PM
mjlennonB2B mail checks thats size and more routinely.
December 06, 2020, 08:51 PM
Jamess1Perfect for the season. 12 days of Venmo.
They let you do $2000 a day.
Seriously. Worth the money to track the wire transfer. Yes check is nice but by the time add time to get it and then the cost and time to go send it, well worth the wire fee. Also the save the nephew the hassle of heading to the bank and make a deposit. Needing various ids and then his bank hold the money until the clear the check.
December 06, 2020, 09:49 PM
Excam_ManMail a smaller check each day until you reach $24k.
(2) 12k+12k
(3) 8k+8k+8k
(4) 6k+6k+6k+6k
(5) 5k+5k+5k+5k+4k
(6) 4k+4k+4k+4k+4k+4k
Or make it the X days until Christmas!
December 06, 2020, 09:54 PM
PGTUSPS priority mail and cashier's check (if free), otherwise bankwire.
Or, like my brother did when he sold his apartment in Buenos Aires, Argentina and put the proceeds down on a new house outside the city....hired an armored truck to move the cash (nobody does checks for property sales there).
December 06, 2020, 10:29 PM
DaBigBRI agree with those suggesting wire, ACH, or just mailing a check. The irony is that a wire is not only most likely the easiest and most secure, it's also likely cheaper than a certified/official/cashier check and shipping.