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#2123762 - 03/27/17 04:58 PM Check Casher Threshold
bellajade Offline
New Poster
Joined: Mar 2016
Posts: 4
I am curious if other banks have come across gas station/convenience store customers that have third party checks in their deposits over the $1,000, but their response when asked is that they are not providing their customers with more than $1,000 back in cash/money orders on any given day? Are you obtaining a letter from these customers of their explanation to back up why you aren't classifying them as an MSB?

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#2123763 - 03/27/17 05:03 PM Re: Check Casher Threshold bellajade
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,638
The Country
If we get a response similar to the one you listed and we feel it is legitimate we would definitely require some documentation or certification from that customer to justify our decision to not classify them as an MSB.
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A successful man is one who can lay a firm foundation with the bricks others have thrown at him.
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#2123783 - 03/27/17 05:45 PM Re: Check Casher Threshold bellajade
Daisy Doodle Offline
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Joined: Feb 2014
Posts: 1,030
Southern U.S.
I would be skeptical, personally. What does their check cashing policy say? And how much over $1,000 are the checks and how oftenare you seeing checks that high. Not that much to reasonably buy in a convenience store that would go to far over.

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