How do Lottery winners cash those big A checks?

Question by Clumsy: How do Lottery winners cash those big A checks?
No bank would have the ca$h on hand to match one of those babies. They also would not be able to set up a normal bank account since most banks only insure accounts up to 0k.

Best answer:

Answer by donfletcheryh
Those big checks are replaced with normal sized checks before cashing them.

Know better? Leave your own answer in the comments!

There Are 2 Responses So Far. »

  1. lol i looked it up and found this. evidently they have to have a special account set up…

    “Arrange for a special account at the bank. You can’t just deposit millions into your plain ol’ checking account. And they don’t really give you a paper check with a lot of zeroes. They give you the money by a wire transfer to your pre-arranged special account, says Sockman.”

  2. THEY PUT THEM IN PRIVATE BANKS THAT HANDLE HIGH NET WORTH INDIVIDUALS.

    http://en.wikipedia.org/wiki/Private_banking

    THE BIG CHECKS THEY GET ARE TO HANG ON THE WALL. THEN THEY GIVE THEM A REGULAR SIZED CHECK.