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#1192855 - 05/29/09 06:22 PM Negotiable/Monetary Instrument Logs
UUCU Offline
Member
Joined: Jun 2008
Posts: 72
Customer has two accounts.
He comes in and deposits x amount into account #1.

Later that day he comes in and deposits x amount into account #2 and also get's a cashier's check.

On the log, do I use the aggregate cash amount for both accounts for the recieved cash??

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#1192915 - 05/29/09 06:52 PM Re: Negotiable/Monetary Instrument Logs UUCU
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
If the same individual performs more than one cash transaction on the same busienss day you aggregate the total cash.
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#1192916 - 05/29/09 06:52 PM Re: Negotiable/Monetary Instrument Logs UUCU
MagicCity Offline

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MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
Yes.

It does not matter how many accounts the cash goes into.

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#1192971 - 05/29/09 07:20 PM Re: Negotiable/Monetary Instrument Logs MagicCity
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
If your log is for the purposes of complying with ยง103.29 of 31 CFR Part 103, your log entries should reflect the cash used to purchase the MI (including the fee). I don't believe you should include the amounts deposited, unless funds from those deposits are used for the MI purchase.

If your log is for internal aggregation purposes to know when a CTR should be filed, you should include all three amounts.
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