Turning cash into a check

Weird question here.

Anyone have any ideas on easy/low-cost ways to turn a substantial amount of cash into a check made out to me? I don't have a traditional bank account where I can go to a branch and deposit the money. I use a brokerage account but they don't take cash deposits, only checks. I don't mind if this costs me a few bucks to do, but I don't want to pay more than a percent or so of the total amount.

Would a casino that I have status with be willing to do this? It's pretty much the opposite of cashing a check.

This would be on the order of a grand or two, not circumventing CTR rules or anything, but enough money that I'd like it to be in a more secure form than a wad of Benjamins.

One obvious solution is to give the money to a friend in exchange for a check, but no one I know wants to deal with that much cash, and I don't really want to involve friends with this kind of thing anyway. Spending the money isn't a great option either, as I generally prefer (or am required) to use credit cards.

Money orders are usually like $0.99 at 7-11. Not sure how high they go in amount though. You might need to do that on several smaller ones to get up to $1000-2000. Most banks offer cashier's checks for a small fee. Or why not turn the cash into Traveler's Check's, or a pre-paid debit card? None of those options should be too expensive.

I've tried to do this. There aren't many options. Most stores have limits on money order amounts. You might have to buy several and pay a fee on each one. Same thing with traveller's cheques. Also apparently there's no such thing as a "cashier's check" from a bank anymore.

To be honest the best thing to do would be to go with your friend to his bank, deposit the money, and get a check from him right there.

I appreciate the responses.

The objective is to be able to deposit the funds into my brokerage account. They take any manner of checks (cashier's, payroll, personal, government, rebate, you name it) but I'm not certain about money orders and doubtful about traveler's checks.

It would be nice if, after a good day's or weekend's worth of gambling, I could somehow get a check cut at a casino so I could reduce the amount of cash I'm holding. It wouldn't necessarily be related to my winnings at that particular casino.

I'd rather not use this money to pay for large purchases, as I get rewards through my credit cards (and like the 50 days of float, etc). Sometimes I do pay my rent in cash.

You should ask the casino. If they say no ask the brokerage firm if they take western union.

Quote: teddys

Also apparently there's no such thing as a "cashier's check" from a bank anymore.

Not in my experience. I'm pretty sure you can walk into any major bank, hand them the cash, and get an "official check" which is basically drawn against the account of the bank. It might cost $10-15 for your trouble.

Edit: I just read the real goal, which is to get funds from a casino to a brokerage account. If the OP is a regular player at the casino, they might just agree to wire or EFT the funds directly to the brokerage house. They handle markers in a similar fashion.

Quote: 7outlineaway

Weird question here...This would be on the order of a grand or two

geez, weird indeed as this really is not a lot of money. You can have a problem moving $10,000 around in cash, but not this amount. Maybe you are in Vegas and don't have a bank account there? Absolutely it would stun me to find banks no longer have cashier's checks! I think that is incorrect surely. You might not be able to get one if you don't have an account though. If your friend has a bank account, he should be able to get a bank check made out to you with no pesky questions.

I do not see where you say you are trying to get money in a casino account transferred to a brokerage, but cash you have in hand transferred to such. If the money is in a casino account already, surely you can get a check made out to you.

I just checked the US Postal service website(USPS.com).

It's only $1.55 for a $1000 USPS money order. That's a great deal and they're sold at every Post office.

A few ideas, thoughts, and suggestions:

1) The post office also sells money orders. You'll have to find out about the limits and costs.
2) I think a call to the brokerage company is in order. Ask them about two things - do they have a B&M office nearby that you can drop the money off in and have credited to your account (some do)? And do you take money orders (I can't see much reason why they wouldn't, since a M.O. is backed with real cash somewhere down the line)?
3) Bank cashiers' checks do still exist, though they may not do it for non-account holders.
4) Why not establish a quickie bank account? Get the toaster, write the check, cancel the account.
5) Send 'em one of those funny credit card check thingies. They charge interest from the time they're cashed, and they may charge a cash advance fee, but you might find one or a few that are affordable.
6) I WOULD NOT involve a casino and I WOULD NOT involve any of my friends.

Quote: ten2win

I just checked the US Postal service website(USPS.com).

It's only $1.55 for a $1000 USPS money order. That's a great deal and they're sold at every Post office.

It looks like my broker takes money orders, so this sounds like the way to go. They do have physical offices, which in fact I use already to deposit checks. I do all my "banking" through them and would prefer not to go through the hassle of opening another account at a traditional bank. Not to mention the minimum balance requirements, possibility of having to pay extra fees, etc.

Western Union seems more expensive and the places that have it always seem kind of sketchy, so I'd rather not go there.

The dollar amounts I'm dealing with here are not huge, but I have occasion to want to do this often, and I'd rather reduce the amount of "walking around money" I have on me when possible. And if interest rates ever rise from zero, I'd prefer to be earning interest.

I'm not sure whether money orders can be replaced if lost, but they're not bearer documents so can't be cashed by someone else.

Colorado (my home state) doesn't allow casinos to extend credit, but the next time I'm in a Harrah's (I'm platinum) I'll ask what kind of services they provide.

BTW, in case anyone was wondering about savings bonds, they require a minimum six-month hold. However, any bank that issues them must also cash them in full regardless of whether you have an account with the bank and without charging a fee. Also, they can be cashed only by the named payee. Because of this I keep SBs at home (with the serial numbers recorded in a separate place) and am not worried about their security.

I think you need to break down and get a bank account.

Quote: odiousgambit

I think you need to break down and get a bank account.

I concur. Most credit unions offer zero-fee checking accounts - just do that and get an EFT link set up to the brokerage. Or, if you're military, move all your money to USAA.

Quote: odiousgambit

I think you need to break down and get a bank account.

I probably will at some point, but in the meantime I was curious to understand what my other options are.

I only deal with small banks, btw. (Haven't used credit unions, but have had a difficult time finding CU's that both I would be eligible for and would suit my needs.) It should be THEIR privilege to take MY money, after all they need it to make loans, but most big banks think the other way around.

Quote: 7outlineaway

...It should be THEIR privilege to take MY money.

Now that's just crazy talk!

Only a casino would think it's their privilege to take money.

On that note, there is a lot that the casino's credit office can do that doesn't involve extending credit. Ask them.

Quote: 7outlineaway

Colorado (my home state) doesn't allow casinos to extend credit, but the next time I'm in a Harrah's (I'm platinum) I'll ask what kind of services they provide.

I would think that only applies to Colorado casinos, not Colorado residents in out of state casinos.

Quote: odiousgambit

I think you need to break down and get a bank account.

+2. If you look around, you can still find some free ones left. The last two I opened paid me $100 each upon opening, and they were free.

Quote: 7outlineaway

Colorado (my home state) doesn't allow casinos to extend credit, but the next time I'm in a Harrah's (I'm platinum) I'll ask what kind of services they provide.

I'm diamond, and they won't give me the time of day. (But I can get free rooms on a weekday in Joliet and Laughlin!)

USPS also offers money wire services.

No, I don't work there, but still believe we should support them so they aren't begging for Federal handouts(that's a thought for a new thread!)

A couple thousand is chicken feed when it comes to sanitizing cash.

You might want to make a cash deposit to your lawyer's trust account, then ask him to refund it later, via his trust check made payable to you.