Skip to content
Thread Options Tools
#85519 - 06/04/03 10:30 PM Accepting transaction orders off site

I have been reading through prior threads to help determine whether we are creating problems for ourselves with the following scenerio, but I would like others opinions.

When a staff member goes to the court house to file legal documents, court house employees will sometimes give our staff member "transactions" to bring back to the bank. These transactions could be CD renewal instructions to account deposits.

After reading through various threads and regulatory cites, it appears to me that we should not be accepting the deposits due to 'branching' issues. Correct? Or does the fact that we do not have a set schedule to go there make a difference?

And how does accepting CD renewal instructions affect us, if at all?

Your feedback is appreciated.....

Return to Top
General Discussion
#85520 - 06/04/03 10:42 PM Re: Accepting transaction orders off site
1111 Offline
Platinum Poster
Joined: Jan 2003
Posts: 580
Picking up "instructions" or even deposits is perfectly legal with no "branching" impact. Of course, if you produce a receipt on site, that would be different, but simply picking something up is O.K. with cash the one exception. Even a courier service cannot pick up cash from a customer. Your employee is simply acting as a courier, of sorts.

Return to Top