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I am considering selling my car to Carmax. They will write me a Bank Draft on the spot....but it says it has ti be deposited and cant be cashed? I know nothing about bank drafts, as I need the cash, please explain the process to me thanks what good is it if I cant cash it>? thank you.
Mary D, HiNella NJ 08083
July 3, 2015 04:20:33 PM
In reply to Mary D, HiNella NJ 08083
Thank you for reaching us on TD Helps, Mary. We'd be glad to help.
If the check itself states that it must be deposited, TD would be unable to cash the check for you. Checks/Bank Drafts are considered legal tender. Because of this, we'd need to follow the instructions on the check itself.
If you would like to discuss the specifics of this type of check, we recommend reaching out to your local TD Store for further guidance. To take a look at TD Stores near you and their hours please visit http://bit.ly/TDStores.
We hope to hear from you soon, Mary and have a good day.
Megan K, Mount Laurel
July 3, 2015 04:21:43 PM
In reply to Megan, Mount Laurel
what good is it if I cant cash it?
mary, hiNella nj
July 6, 2015 11:55:19 AM
In reply to mary, hiNella nj
We apologize for any confusion, Mary.
Though we may not be able to cash the check you've referred to in your original question, you are able to deposit checks to your account. After the check is verified and the funds cleared, you are able to make a withdrawal from your account.
To take a look at TD Stores and TD ATMs available to make a withdrawal please visit: http://bit.ly/TDStores.
We recommend taking a look at our Funds Availability Policy found here: http://bit.ly/1kb17UQ. Pages 38-41 detail when you have access to deposits made to your account.
You may also want to reach out to the bank the check is drawn on as they may be able to help you negotiate the item.
Again, if you would like to discuss the specifics of this type of check, we recommend reaching out to your local TD Store for guidance.
We hope this helps, Mary. Take care.
Megan K, Mount Laurel
July 6, 2015 11:56:08 AM