A player reached out to us after getting a prize check from the Iowa Lottery and then having no luck while trying to cash it at a couple banks where he had no account. The player wondered if we at the lottery could somehow force a bank to cash a check. The short answer is no, and there are real-world security issues involved.
Many financial institutions have policies that allow check-cashing services only for their account holders. The approach is designed to protect the financial institutions and their customers from forgeries and fraud.
If the check was written by a business or person with an account at the financial institution, it may honor the check, but only if there is enough money in the account to pay it. You may be charged a fee if you don’t have an account there.
Any financial institution with a question about a check from the Iowa Lottery is welcome to call our headquarters office to verify it. And many take that step, even with their own customers. We understand that – after all, it’s not every day that someone wins the lottery, and it’s always best to verify financial details!
As we shared with the player, the best approach when cashing a check is to do so at a financial institution where you have an account. And if the check is for a significant amount, you likely will want to visit your institution in person and be prepared to provide your I.D.
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