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#2047011 - 10/29/15 05:49 PM CTR Cash Out Beneficiary
Spartee2000 Offline
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Joined: Feb 2012
Posts: 13
A customer came in and withdrew over $14,000 in cash from his business account (not a DBA)
He then brought the same cash back in a few hours later saying he was going to buy a vehicle but the seller backed out of the deal.
The cash in CTR would have him as the conductor making the deposit on behalf of the business.
Am I correct in thinking that the cash out CTR would depend on if the vehicle was for the business or personal use?
Business use would be the same as above, but if he were buying a car for personal use wouldn't be on his own behalf?
I am going to call the teller and see if he mentioned what he was buying, but if they don't know, how do I complete the CTR?

PS Our software keeps our CTR's for cash ins and outs separate, that is why I am completing two different forms.

Thanks,
Lori
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#2047012 - 10/29/15 05:53 PM Re: CTR Cash Out Beneficiary Spartee2000
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
It's been said here before, but in a cash withdrawal from an entity's account you can 1) ask or 2) guess who's going to benefit from the transaction; i.e. the individual or the entity. If the teller doesn't ask, then guessing is all that's left.

Yours guess is as good as anyone else's.
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#2047362 - 10/30/15 08:03 PM Re: CTR Cash Out Beneficiary Spartee2000
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,557
Cape Cod
BSA officers need to get this message: Your customer-facing staffers need to acquire and develop skills to inquire of customers when they complete large cash transactions. It should be part of their job description, and of their performance evaluations.
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