Generally, cashier's checks must be made available by the next business day. However, because of the number of fraudulent and counterfeit checks now being passed, credit unions are beginning to place an extended hold on cashier's checks.
A credit union can only place an exception hold on the amount of the check deposited in excess of $5,000. The first $5,000 must be made available in accordance with the credit union's normal availability schedule.
However, always remember that funds may become available to you before the credit union has been able to verify the check. You may end up withdrawing the funds before the credit union knows that the cashier's check is fraudulent.
If the cashier's check is fraudulent, the credit union may charge the cashier's check back against your account or obtain a refund from you. In addition, you may want to review the account agreement you received when you opened the account, as it explains the credit union’s funds availability policy and schedule.