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#1234500 - 08/18/09 04:12 PM Check payable to two individuals
Compliance Lover Offline
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Joined: Aug 2008
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A check for loan proceeds (drawn on our bank) was payable to husband and wife and the husband endorsed the check and the wife cashed most of the check, opening a new account in her name with the remainder. The cash was given to the wife, the husband had left. I completed the CTR in her name only, but then questioned myself. Isn't that right since he didn't physically receive the cash at the teller window?

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#1234781 - 08/18/09 08:13 PM Re: Check payable to two individuals Compliance Lover
Little Miss BSA Offline
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Little Miss BSA
Joined: May 2007
Posts: 1,185
Miami
But wasn't it made payable in both their names, therefore making it also on his behalf.....
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#1234789 - 08/18/09 08:17 PM Re: Check payable to two individuals Compliance Lover
Compliance Lover Offline
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Joined: Aug 2008
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Well, that's why I started questioning it. I haven't sent it in yet. I should have his information though.

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#1235075 - 08/19/09 02:46 PM Re: Check payable to two individuals Compliance Lover
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
The paper "evidence" suggests that the transaction was on behalf of both payees. Whether you file with two Section A entries or one should depend on whether you got other information that leads you to believe it was done only on behalf of the wife (more, I think, than the mere fact he didn't directly receive any cash).
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