At what point would a CTR be filed for a Reg E dispute claim which states that over $10,000 in cash was deposited in the ATM? At the time a provisional credit is posted to the customer's account or at the time the Bank decides to make the provisional credit permanent, which could be 45 days? What business date is then used for the CTR, date of deposit in the ATM, provisional credit date, or permanency decision date?
Does the BSA officer need to be signing off on money shipments to the bank?
Here is the situation: a customer deposits $12,000 in cash; they also do a currency exchange for $300 (cash in and cash out). Our processor states that the $300 out does not need to be reported on a CTR since it is not over $10,000. Is this correct?
An Office Worker is employed at Big Grocery, which is exempt from currency transaction reporting. She brings in a business deposit including $8,000 cash. She also deposits $5,000 cash in her personal savings account. Is a CTR required since she is a transactor on both deposits?
I am seeking some guidance regarding the designation of exemption for a customer that mutually owns two businesses and conducts activity for both with our bank. He is a common owner listed on both accounts and therefore CTRs have been filed on both businesses on a single Currency Transaction Report by selecting the multiple persons and combining both businesses' aggregated transactions for reporting.The two businesses have separate accounts and tax ID numbers, the addresses and phone numbers listed are different as well. Transactions do not intermingle between the businesses and are clearly separated; the only common denominator is one of the principal owners of the businesses.When attempting to exempt the businesses can they both be combined under one Designation of Exemption? If not, only one of the businesses qualifies on its own to be exempt, would we be required to amend prior Currency Transaction Reports to separate the two businesses? Or have we been filing incorrectly to begin with?
Are banks permitted to charge a fee to customers or non customers to withdraw funds using their Visa debit card (inside the bank not by ATM)?
We have a customer who purchased foreign currency (reportable transaction) with a check. I am trying to complete the CTR by putting the foreign cash out in section 27A but I get an error message that I have to complete either Item 26 or item 27. What do I put in that field since no other currency was involved?
A customer cashes a check for $16,000.00, out of that amount, he deposits $3,000.00 to his checking account. Should the CTR be filed for the full amount ($16,000.00) or just $13,000.00 which is the amount he walked out with?
Are gift cards (prepaid access cards) considered monetary instruments that need to be recorded on a bank's monetary instrument log? I am aware of 2011 changes related to prepaid access cards and MSBs. Has the requirement for MIL record keeping for banks been expanded to include the sale of prepaid access cards?
I unsuccessfully searched for "528.2a". Can you tell me the status of this nondiscrimination regulation? I was interested in the part that says lenders should have available a copy of their lending standards available upon (a consumer's) request.