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#2208980 - 03/19/19 12:44 PM CTR Payroll Customer Exemption
downbytheriver Offline
Member
Joined: Jan 2008
Posts: 51
Georgia
We have a customer who comes in weekly to cash the payroll checks for his employees. All endorsements are completed as required and the customer meets all other requirements under the regulation to be exempt.. However, in order to qualify would the customer have to make one withdrawal for cash to pay his employees or can he continue to cash the individual checks? The regulation is not specific in this area so I want to see how others are interpreting it.

Thanks!

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#2209060 - 03/19/19 09:38 PM Re: CTR Payroll Customer Exemption downbytheriver
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 80,353
Galveston, TX
You might want to review this thread and then the thread that is also linked.

https://www.bankersonline.com/forum/ubbt...mployees-checks
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