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#1292414 - 11/24/09 05:19 PM CTR Clarification!
jonv Offline
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Joined: Jul 2009
Posts: 104
When a customer cashes their own personal check for "cash" instead of using a bank withdrawal slip, is a CTR completed with the "Deposit / Withdrawal" box checked or the "Negotiable Instruments Cashed" box checked?

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#1292421 - 11/24/09 05:23 PM Re: CTR Clarification! jonv
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,864
Cape Cod
FinCEN says unofficially that it would prefer you check "negotiable instruments cashed" in such cases. Apparently law enforcement prefers that method.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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#1292629 - 11/24/09 07:28 PM Re: CTR Clarification! John Burnett
nemsi Offline
Gold Star
Joined: Nov 2005
Posts: 383
What about the customer who uses a DDA debit to withdraw the funds- withdrawal or negotiable instrument cashed?

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#1292652 - 11/24/09 07:37 PM Re: CTR Clarification! nemsi
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,864
Cape Cod
If the individual uses an internal form that is not negotiable, use "withdrawal."
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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