+41 @ATX_Giant84 1- Go to a "Big 3" national bank like Bank of America, J.P. Morgan, etc, and ask to talk to a manager. Notify them that you would like to open an account to receive a massive lump sum settlement, and they'll be more than happy to get it set up 2- Nowadays, jackpots are wired via ACH payment. So, make sure to set up the account first 3- For smaller state lotteries like the one I play in Texas, IIRC their website says you can expect payment in 48-72 hours once they've confirmed your ticket and you've filled out the appropriate paperwork. For national lotteries, the general public statement is that it can up to 3 months, but more often around 6 weeks or so. Good luck!

+19 @BlueRFR3100 Every state is different, but most say to expect it in about 4-6 weeks. But that's not a guarantee. There is no best way to receive it. Everyone situation is different. If I were in my 20s I would be tempted to take the annuity, but now that I'm in my 50s, I want the lump sum. I really don't know anything about the banks. I would think your current one would be fine to accept the initial deposits while you research a bank deals with wealthy clients.

+15 @Character-Maximum69 Depends on how big. Say the 1billion dollar jackpot. You need a lawyer. They will make an introduction to a large private bank that handles Ultra Wealth Individuals. Your regular commercial banks like Chase, Wells Fargo, etc can't handle and back that much money deposited. You can put it in a few diff large private banks and then open some smaller accounts like the reg bank account you have now and make smaller deposits for everyday life things.