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[BasicAcid]

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[hobbitle]

1) How long does the cheque last for? Does it expire? (I don't want to do anything with the cheque until the date in my signature)
2) Is the bank holding $2000 right now? (So when my cousin got this cheque done, did the bank already withdraw $2000 from his account and hold it until I cashed in this cheque?)
3) The cheque is from the Commonwealth Bank and I'm with ANZ. Do I have to go to a Commonwealth Bank or can I just go to ANZ to receive my money?
4) As I'm 17 and don't turn 18 until early January next year, would I be allowed to go cash in the cheque without an adult?
5) Is the cheque itself $2000? Like if I lose the cheque, what would I have to do in order to get the money? (Just wondering, it'll never happen though.)
6) Is it just me or does it feel so weird how this piece of paper is worth $2000? (How come it's not even plastic? It looks so easy to damage/copy lol)

Man you write really long posts for a few questions, haha.
1) I think forever but if not, it's a really long time.  Like two years or more.
2) Unless it's an bank cheque (which it probably isn't because they cost like $10 each, not just a normal chequebook cheque) then no, the bank isn't holding it.  The cheque will bounce if the account its being drawn from doesn't have $2000 in it when you deposit the cheque.
3) Go to your own bank.  Fill out deposit form.  Show them your bank card, sign the form in front of them, they cash teh cheque, is shows up in your account a few days later.
4) I think you're OK with the age but not 100% sure on this one though I'm pretty sure Ive been cashing cheques for years (pre 18).
5) Basically if you lose the cheque you lose $2000.  It's not LITERALLY like having $2000 cash - you could get your cousin to write a new one, but it's doubtful he would considering the other one could be floating around still.
6) Yeah its just a thing, money is just a thing, whatever.
 Congrats, enjoy Spend wisely.

[ninwa]

^^ adding on above

1) Not forever AFAIK. Something like 1-1.5 years. Certainly it will be valid at 13 November so you don't need to worry about that. Call up your bank and ask if you're worried

4) I don't think you need an adult. I've never been asked to present proof of age or even proof that it's my bank account when depositing money (and I still get asked for ID sometimes so it's not a matter of looking old or young). They WANT you to deposit money so they'll facilitate it as much as possible

5) Your cousin will need to report the cheque lost so the bank can cancel it, and he will have to issue you with a new one. (Sometimes the bank will replace it for a fee)

[hobbitle]

Re 4), I think that as long as the account is in your name and your signature is the one they need, you don't need an adult.
Oh yep and ninwa had a better answer for 5).  Good one

[hobbitle]

Does it really matter whether or not the bank is holding $2000?  Its unlikely your cousin is going to spend $20,000 before Nov 13.  Bank cheques are a little confusing and some normal cheques still say bank cheque, but I think the difference is if it states "Official" at the top, it's a bank cheque. 

An ordinary cheque bouncing means the person who gave it to you doesn't have enough cash in the linked account, so your bank will notify you that the transaction didn't take place. So yeah, it won't "work". Again, this is unlikely, unless your cousin moved his money into a different account without realising you hadn't cashed yours yet.

[JellyDonut]

Take your cheque, go to the counter, give them the cheque and your bank card, done.

don't worry about the fine details. but if you have to ask, if your cousin blows the money, you're not getting any and it's not actually 2000 bucks -- it's a promise that you will be given $2000.

[Damoz.G]

Everyone else has answered your questions the way I would have. But I'll just add that you don't need a parent/guardian to deposit a cheque. I've had a couple sent out to me, and I didn't need anyone to be present with me.

Why are we talking about November 13? I know that its the day of your last exam, but is everything gonna be cool between your parents and your cousin by then?

[Mao]

6) Is it just me or does it feel so weird how this piece of paper is worth $2000? (How come it's not even plastic? It looks so easy to damage/copy lol)

Wait until you have to buy a car. Having your entire savings reduced to a single piece of paper...

It was the lightest and heaviest my chest pocket has ever been.

[Mao]

And that's the date I finish exams, so I'll go out to cash it after that date.

I don't believe any bank will let you "cash it" (i.e. take the cheque and give you cash). They will however attempt to deposit the money into your account, contingent on the fact that the cheque clears.

If it is a bank cheque, the balance has already been reserved from your cousin's account, and so the cheque is not at risk of bouncing unless he deliberately cancels it. It will take a few days from banking the cheque to the money appearing in your account.

Note: you can easily apply for savings accounts/debit visa accounts at all the major banks, and virtually all of them have policies to charge no fees for students (and some banks don't charge any fees full stop). You can think about opening an account your parents don't know about if financial information gets hairy between you.

[lala1911]

1) How long does the cheque last for? Does it expire? (I don't want to do anything with the cheque until the date in my signature)
2) Is the bank holding $2000 right now? (So when my cousin got this cheque done, did the bank already withdraw $2000 from his account and hold it until I cashed in this cheque?)
3) The cheque is from the Commonwealth Bank and I'm with ANZ. Do I have to go to a Commonwealth Bank or can I just go to ANZ to receive my money?
4) As I'm 17 and don't turn 18 until early January next year, would I be allowed to go cash in the cheque without an adult?
5) Is the cheque itself $2000? Like if I lose the cheque, what would I have to do in order to get the money? (Just wondering, it'll never happen though.)
6) Is it just me or does it feel so weird how this piece of paper is worth $2000? (How come it's not even plastic? It looks so easy to damage/copy lol)

1. 15 months I'm pretty sure. It was previously 12 months as far as I know. Varies from cheque to cheque though.
2. Yes that $2000 is from your brothers bank account When you cash in the cheque it will transfer to your account.
3. Go to your own bank.
4. No. I've cashed in cheques at my local bank when I was 14-16 years old. You just need your bank card, ID and once I had to present proof of residence.
5. If you lose the cheque it doesn't matter. As of now, you don't have $2000 until it's cashed in. If lost, the person won't be able to check it in if its not addressed under their name. If lost, you can have another one written. Cheques can be cancelled.
6. Yup, they are awesome huh. I've still got quite a few pinned on my wall, weird huh?

edit; There is really nothing to be concerned about and if you do have any issues the banks are always happy to help people. From my own experiences, banks thrive on customer satisfaction. As soon as I step in a bank there is always someone specifically employed to greet and assist people.

[ninwa]

Wait until you have to buy a car. Having your entire savings reduced to a single piece of paper...

It was the lightest and heaviest my chest pocket has ever been.

and the insurance payments... and the rego... and the petrol... being an adult sucks

[hobbitle]

Rent, paying you own food, medical bills, clothes....
And doing full time Uni!

[Mao]

and the insurance payments... and the rego... and the petrol... being an adult sucks

Or the service cost when your transmission breaks on you. Protip: get the transmission checked.

[ninwa]

Or the service cost when your transmission breaks on you. Protip: get the transmission checked.

or when your brakes fail in the middle of the CBD
protip: if your brakes have been making grinding noises for the past few months, don't ignore it i am not a clever person

[pi]

or when your brakes fail in the middle of the CBD

I'll raise you brakes failing in the Burnley Tunnel.

(luckily the lane next to mine was closed off or there would have been some ambos in there pretty soon)