Skip to content
GeoDataVision
Thread Options
#1697945 - 05/10/12 12:41 PM CTR & currency exchange question
nemsi Offline
Gold Star
Joined: Nov 2005
Posts: 383
If a business customer makes a $9,000 deposit and also brings in $1,500 in a "change order" is the transactions reportable. I say "yes" $10,500 cash was brought into the bank- deposits and currency exchange. There's a difference of opinion with others in the area. Some say "NO" CTR. The money would have to go into the customers account and it didn't.
Thanks for your help!

Return to Top
BSA/AML/CIP/OFAC Forum
#1697951 - 05/10/12 01:00 PM Re: CTR & currency exchange question nemsi
ACBbank Offline
Power Poster
ACBbank
Joined: Jul 2006
Posts: 4,210
New York City
You would be correct. Currency exchanges are aggregated as both cash ins and cash outs. In your case you would be filing a CTR for $10,500 cash in. Make sure to check off the currency exchange box as well.
_________________________
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

Return to Top
#1698077 - 05/10/12 03:01 PM Re: CTR & currency exchange question nemsi
MsFaye Offline
Junior Member
Joined: Oct 2011
Posts: 38
The Dakotas
Cash crossed over the counter - it's reportable.
_________________________
A smile is a curve that sets everything straight. - Phyllis Diller

Return to Top
#1698141 - 05/10/12 03:50 PM Re: CTR & currency exchange question MsFaye
nemsi Offline
Gold Star
Joined: Nov 2005
Posts: 383
Thanks to both of you for your response.

Return to Top

Moderator:  Andy_Z