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#564731 - 06/09/06 01:24 PM Advance on line of credit
BankerKB Offline
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BankerKB
Joined: Jan 2005
Posts: 288
If a customer took out a reportable CTR amount as an advance on a line of credit can you check box #34, #35 and list the account number, and #36 and explain it was an advance on a line of credit. Our customer's cash checks to advance on their line of credit.
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Any information posted is my opinion and not the opinion of my employer.

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#564732 - 06/09/06 03:09 PM Re: Advance on line of credit
skinnyminny Offline
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skinnyminny
Joined: Mar 2002
Posts: 395
Heaven in comparison to my pri...
I would check box #32 (cashed check); #35 account number (of loan); and #36-loan advance or loan proceeds.

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#564733 - 06/09/06 04:02 PM Re: Advance on line of credit
BankerKB Offline
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BankerKB
Joined: Jan 2005
Posts: 288
Well this is an on us check cash so it should be treated just like if a check was cashed out of a customer's account so I think box #34 since it is a withdrawal from an account number.
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#564734 - 06/09/06 07:01 PM Re: Advance on line of credit
nemsi Offline
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Joined: Nov 2005
Posts: 383
I would check # 34 and 35- account number. As I understand it, on us checks, presented by our customer for a cash withdrawal from their account should be treated as a withdrawal and not a negotiable instrument. That's what I would do.

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