We are going back and forth as to whether or not a credit union or a church are actually considered non-government organizations? Although we know that they are non-profit, I have read conflicting information and am trying to settle this internally.
Can you tell me where to find guidance on, or when to actually do, when a Currency Transaction Report was filed by mistake?
I have a reportable CTR to file. It was created during banking hours. I found out that our client did a POS and got cash back. The POS transaction happened after banking hours. Do we need to add the cash back amount to the reportable CTR?
Is it a requirement to gather Beneficial Ownership information on loan guarantors?
If a client withdrawals over $10K from an ATM machine over the weekend, Saturday and Sunday are we required to file a CTR on our client?
Should we complete a risk rating on a customer opening a new saving account, as an example, or how are the accounts selected that this is completed on, i.e. based on what criteria?
I am trying to create a monetary instruments log for our credit union. I have not been able to find a list of the required information needed on the log. Where can I find that information?
What types of back-office documents do banks image and store electronically?
A customer cashes a large check that results in a reportable CTR. My question is that the funds from the check are for Christmas bonuses for the
customer's employees. I have the customer as the conductor, but who will be the beneficiary? Can we list the business as the beneficiary?
We have learned that if a customer has an address outside of the U.S. they cannot use the bill pay feature of our internet banking program. Once their address is changed to a U.S. address they do have access to bill pay. Is this a requirement due to a U.S. banking regulation regarding persons with international addresses and online payments? Or is this simply a voluntary security feature of our online banking vendor?