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#1218076 - 07/16/09 03:47 PM FX tran on CTR
Trees Offline
Power Poster
Joined: Apr 2005
Posts: 4,013
cust. came to teller and instructed us to debit her account for $15,000. US to purchase the equivalent in Euros. In such a case, do we need to file a CTR (as the US dollar portion was not currency), then again the customer went out the door with Euros equiv. in value to $15,000. USD....what to do?

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#1218104 - 07/16/09 04:14 PM Re: FX tran on CTR Trees
Al Miller Offline
Diamond Poster
Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
Cash out the door requires a CTR. That it was not US$ does not change the requirement.

Al
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Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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#1218109 - 07/16/09 04:18 PM Re: FX tran on CTR Al Miller
Trees Offline
Power Poster
Joined: Apr 2005
Posts: 4,013
ok, SO WE PUT THE eURO AMT ON LINE 27a, for example, $8500 and then mark EE in box 29, right?

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#1218171 - 07/16/09 05:39 PM Re: FX tran on CTR Trees
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
Put $15,000 on item 27 and the foreign equivalent on item 27a. The instructions explain it on page 4.
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Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.

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#1218178 - 07/16/09 05:43 PM Re: FX tran on CTR Trees
Al Miller Offline
Diamond Poster
Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
As I read the instructions (page 3), you put $15,000 in 27, €8,500 and Euro in 29.

Al
_________________________
Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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#1218181 - 07/16/09 05:48 PM Re: FX tran on CTR Al Miller
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
Al, are you saying that you would put the Euro amount in 29 and not 27a?

From page 4 -

Items 26 and 27. Total Cash In/Total Cash Out. In the
spaces provided, enter the total amount of currency
received (Total Cash In) or total currency disbursed (Total
Cash Out) by the financial institution. If foreign currency
is exchanged, use the U.S. dollar equivalent on the day
of the transaction (See “Foreign exchange rates”), and
complete item 26a or 27a, whichever is appropriate.
If less than a full dollar amount is involved, increase that
figure to the next highest dollar. For example, if the
currency totals $20,000.05, show the total as $20,001.00.

Items 26a and 27a. Foreign cash in/Foreign cash out.
If foreign currency is exchanged, enter the amount of
foreign currency (Do not convert to U.S. dollars) in items
26a and 27a. Report country of origin in item 29.
_________________________
Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.

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#1218213 - 07/16/09 06:34 PM Re: FX tran on CTR Kelsey D
Retread Offline
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Retread
Joined: Oct 2003
Posts: 2,548
Southeast
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