How would you cash a 240 million dollar lotto check?
I was just wondering how or what the procedure is for cashing a huge check like this. Let's say you won a 240 million dollar lottery. You go to the state lottery office collect your check and how will one cash that? I mean most banks only insure checking and saving accounts up to about 250,000 dollars FDIC. I know there was a law passed several years ago that requires banks to notify the IRS and DEA if you with draw more than 5,000 dollars IIRC. ( I could be wrong on this one.) If ya took that winning lotto check to the bank and ask them to cash it, would they have enough funds in cold hard cash available to actually give you 240 million in US dollars? I don't know because I ain't never won much more than 200.00 dollars on any type of lotto ticket. I know this; 240 million US Hallelujah's could buy me a lot of guns!!!!!!!!
"It is what it is":usa: