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#2092961 - 08/12/16 04:02 PM Do you use cash tickets for cash exchanges?
Amandak Offline
Member
Joined: Jul 2013
Posts: 80
Wisconsin
Is there a rule or regulation that states the cash tickets should be used for cash exchanges? If so, what is the benefit and how do you monitor it?

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#2093081 - 08/12/16 08:57 PM Re: Do you use cash tickets for cash exchanges? Amandak
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,402
There is not a rule or a regulation. For me the purpose of cash tickets is to track how cash is processed through the bank. In your example above, if teller A sells teller B cash there should be some method for identifying this transaction (i.e., the use of cash tickets). If you do not use cash tickets and a teller drawer is out of balance at the end of the day, where do you start looking for the outage?

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#2093087 - 08/12/16 09:52 PM Re: Do you use cash tickets for cash exchanges? Amandak
Amandak Offline
Member
Joined: Jul 2013
Posts: 80
Wisconsin
I should clarify this would be exchanging cash for coins for business customers. We use in and out tickets when exchanging from one teller drawer to another.

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#2093092 - 08/12/16 10:37 PM Re: Do you use cash tickets for cash exchanges? Amandak
Tabbetha, CRCM Offline
Junior Member
Joined: Feb 2009
Posts: 47
Biloxi, Mississippi
Our procedure is any cash passing thru our tellers is processed using a cash in or out ticket. We do not allow exchange of cash or coin without a paper trail. We also track change orders via a query built to monitor that particular tran type within our teller system.

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#2093131 - 08/14/16 06:45 PM Re: Do you use cash tickets for cash exchanges? Amandak
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,893
Galveston, TX
Originally Posted By Amandak
I should clarify this would be exchanging cash for coins for business customers. We use in and out tickets when exchanging from one teller drawer to another.


If you don't document this exchange in some manner, how do you get the exchange into your currency aggregation for CTR reporting?
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#2093161 - 08/15/16 01:12 PM Re: Do you use cash tickets for cash exchanges? Amandak
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
We use cash tickets for exchanges.

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#2093203 - 08/15/16 03:22 PM Re: Do you use cash tickets for cash exchanges? rlcarey
Amandak Offline
Member
Joined: Jul 2013
Posts: 80
Wisconsin


If you don't document this exchange in some manner, how do you get the exchange into your currency aggregation for CTR reporting? [/quote]

This is where my question is arising from. I am for using tickets but am getting pushback from operations and am looking for something in writing to back up my reasoning.

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#2093221 - 08/15/16 03:45 PM Re: Do you use cash tickets for cash exchanges? Amandak
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,402
I don't think you are going to find your support in one place, it is going to range from internal controls to BSA and potentially everything in between. When I replied I was just thinking of the internal control side not the regulatory impact that Randy brought up.

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#2093223 - 08/15/16 03:49 PM Re: Do you use cash tickets for cash exchanges? Amandak
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
There are lots of controls in place for which there is no written rule....they are put in place in an attempt to minimize risks that we have considered. As was said above, how can you see the money moving throughout your bank if there are no tickets documenting it?

If you are auditing, document the lack of control and make the recommendation. Explain the risks of not using tickets so that your audit committee understands whether or not they are comfortable with accepting the risk.

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#2093224 - 08/15/16 03:53 PM Re: Do you use cash tickets for cash exchanges? Amandak
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,402
As Cornfed said make sure the Audit Committee is aware and properly documented in the minutes.

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#2093373 - 08/16/16 01:36 AM Re: Do you use cash tickets for cash exchanges? Amandak
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,439
Florida
Some systems produce electronic journals, and electronic tickets can be created. I've been on several audits where rules were circumvented, and the tellers could not balance back to previous days work. In one case, the teller was aware, and some cash (and the teller) disappeared.
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#2093416 - 08/16/16 02:19 PM Re: Do you use cash tickets for cash exchanges? Amandak
Susielou Offline
Gold Star
Joined: Aug 2005
Posts: 343
Midwest
We use a "change order" on the teller system. It requires that the cash is documented in and out. Then tickets are made and run through proof. This is just another piece of the puzzle for cash reporting. If you can use technology to collect the information, it is much easier on your BSA Officer and the auditors like it.

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