Encashment of Check / myLot

Philippines

January 3, 2012 4:04am CST

An acquaintance came to me last week for some help, knowing that I previously worked in a bank. Unfortunately, I wasn't sure of the appropriate answer to tell her. Her situation was like this: Her husband died more than a decade ago and he was the sole proprietor of a mining business. Her late spouse has opened an account with Bank of America (California Branch) back then, and in this account he had deposited millions. However, she (my friend) and her daughter are now living outside United States. In dire need of funds, she desperately needs money and she would like to know whether she could encash the funds from her husband's account. According to her, she also have a check amounting to more than $15 million. What is the best way for her to claim this? Is she qualified? What are her options?

1 response

scheng1

@scheng1 (24650)

• Singapore

6 Jan 12

Hi Mykmari, the best person to advise her is the representative of US embassy in the country. He can help to ascertain the documents needed for closing the bank account, and to transfer the money to her. Alternatively she can approach the representative of the Bank of America in the country. Even though the branches are not linked, the bank officer can check from his email address book as to the person who is currently in charge of the bank account in the California Branch.

gems

@mykmari_08 (2464)

• Philippines

19 May 12

Thanks for your insight. The matter is quite off our hands now since she had already found a financier so she can go all the way to US to settle those things. It's a "wait & see" situation for my family right now, but I'm quite certain that it will take more months (or even years) before they can really withdraw that much cash. Anyway, thanks again.