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#1899664 - 02/25/14 04:02 PM Cash Advance Recordkeeping
cheech Offline
100 Club
Joined: Jun 2010
Posts: 207
Chatsworh PA
We are getting pounded with cash advances (like I am sure everyone is as well). Are other FIs doing anything special for transactions over a certain threshold?

I was really wanting to know from a BSA Standpoint but my post was moved. We have multiple over 3,000 in one day.
Last edited by cheech; 02/25/14 04:10 PM.
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#1899703 - 02/25/14 04:48 PM Re: Cash Advance Recordkeeping cheech
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 38,942
Cape Cod
To start, the BSA regulations do not call for anything unique with respect to recordkeeping for cash advances. That said, if you become aware that a single individual withdraws a reportable amount, which may include one or more cash advances, in a single business day, you've got a CTR filing requirement.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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