Skip to content
BOL Conferences Top Gun 23
Thread Options
#760830 - 06/26/07 03:16 PM CTR?
hawkfan Offline
Joined: Feb 2006
Posts: 83
Here is a fun one. One of our customers was selling a plane to a buyer from Canada. They met here and came in to the branch. The Canadian was trying to wire the money ($14,000), but wouldn't get here until the end of the day. So they did a cash advance (technically cash out), then bought a CC, then our customer cashed the CC and walked out of the bank. We do not sell CC to non-customers, but an exception was made for this. Forget the OFAC risk of dealing with a non-customer. After all that, all I can see that we need to file is a CTR on our customer - do you agree?

Return to Top
#760919 - 06/26/07 04:02 PM Re: CTR? hawkfan
GLKS Offline
Gold Star
Joined: Nov 2006
Posts: 344
I agree. The Canadian never actually brought cash in or out.

Return to Top
#760921 - 06/26/07 04:05 PM Re: CTR? hawkfan
JacF Offline

Power Poster
Joined: Nov 2001
Posts: 6,719
I agree.

The cash advance may show as a cash out on your system, but in reality, you were simply using "cash" as suspense for the check purchase, without actually getting currency involved at that point.

Return to Top

Moderator:  Andy_Z