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#2065000 - 02/19/16 03:13 PM SAR Items 52 and 64 applied to deposited items?
M_P Offline
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Joined: Feb 2016
Posts: 1
I apologize if this has been posted already. I have been searching for a discussion on this and haven't found anything.

Is there information on whether SAR Items 52 and 64 apply to the deposit of cashier's checks into a customer's account?

If the customer deposits a cashier's check drawn off "Bank A" into his account at "Bank B", is "Bank B" a Paying Location in SAR Items 52 and 64? The verbiage used that I've seen refers to cashing of checks, not the depositing of cashier's checks from a different bank, but a colleague has suggested it may be interpreted for all negotiation of cashier's checks.

Has anyone dealt with this?

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#2065005 - 02/19/16 03:29 PM Re: SAR Items 52 and 64 applied to deposited items? M_P
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
See Question 18. My read is that they are only interested if the monetary instrument is drawn on your bank; i.e. that's the only circumstance where you could be the selling or the paying location.

Keep in mind, using governmentspeak,, they acknowledge that the question should never have been asked. They are stretching to make it relevant.
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