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#2176009 - 05/01/18 02:04 PM cash witdrawal or negot instrument cashed?
Burgess Offline
Diamond Poster
Joined: Jan 2004
Posts: 1,620
CTR prep - would this be a cash withdrawal or a negotiable instrument cashed?
customer goes to the teller line and write a $15k on-us check payable to self and cashes it.
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#2176016 - 05/01/18 02:20 PM Re: cash witdrawal or negot instrument cashed? Burgess
BookWormGirl Offline
Junior Member
Joined: Apr 2016
Posts: 30
Upper Midwest
My instinct would be negotiable instrument cashed to account for the method of acquiring the funds, but it's also morning and I'm not even halfway through my first cup of coffee...
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#2176020 - 05/01/18 02:25 PM Re: cash witdrawal or negot instrument cashed? Burgess
Midwest BSA Offline
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Joined: Sep 2014
Posts: 54
I think the consensus of prior threads has been that it doesn't really matter, but be consistent. We typically consider it a withdrawal if the person is a signer on the account. If it's a business account and payable to one of the signers, we'll find out if it was for business purposes. If it was, I'll consider it a withdrawal. If it's for personal use, I consider it to be a negotiable instrument.

Right or wrong, no one has ever questioned it other than to inquire how we do things.

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#2176055 - 05/01/18 03:39 PM Re: cash witdrawal or negot instrument cashed? Burgess
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Per slides used by a FinCEN speaker and the instructions for the last paper CTR, they want to know there is a piece of paper they can look at. Negotiable instrument cashed...
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#2176056 - 05/01/18 03:42 PM Re: cash witdrawal or negot instrument cashed? Burgess
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,641
Cape Cod
For almost as long as I can remember, if they signed a check (which is a negotiable instrument) you report it as a negotiable instrument cashed. If they signed a withdrawal slip, it's a withdrawal.
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