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#62796 - 02/21/03 02:51 PM Monetary Logs
Anonymous
Unregistered

have been told that we must list all cash sales of Neg. instruments 3 to 10k. Should the sale of Bonds be included on these logs?

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#62797 - 02/21/03 02:57 PM Re: Monetary Logs
Skittles Online
10K Club
Skittles
Joined: Sep 2002
Posts: 13,965
TN
The only requirement is cashier's checks, traveler's checks, or money orders.
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#62798 - 02/21/03 02:58 PM Re: Monetary Logs
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
Sorry I don't have a cite for you but I do not believe savings bonds are included in what must be reported on the logs.
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#62799 - 02/21/03 03:01 PM Re: Monetary Logs
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
PA
That's correct. Bonds do not meet the definition of 'monetary instrument.'

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#62800 - 02/21/03 03:54 PM Re: Monetary Logs
KK Offline
100 Club
KK
Joined: Jan 2002
Posts: 249
Southern California
The requirement is to maintain a record of certain information on the purchase. Instead of a log for every branch, I have seen banks use a form to capture the required information and then the form is maintained in a central location, usually by the BSA Officer who also oversees the monitoring of the large cash reports.

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