I am currently doing a review on excessive transfers from a savings or mma account and I need an opinion. In conducting a review I came across an account in which the customer purchased multiple cashier's checks. The Bank processes this which what seems to be 2 transactions. First the fee for the cashier check and then for the amount of the check. The way I read the regulation is that each transaction should count towards the 6. The fee is not a deposit directly to the customer and not a payment on a loan to the Bank so I want to include it. I cannot find anything that says otherwise.

If you can please offer your opinion and maybe some backup I would very much appreciate it. This is my first time completing such a review and I just need to make sure I understand the regulation correctly. Thanks in advance.

A bank fee is not an external payment to a third party and would not be counted.

I think I got it now thanks. I think that either way this type of transaction would not count, the purchase of the check, and the check even though they are made to a third person as these are "inconvenient" transfers as the customer needed to come in directly to the branch to complete the transaction.

I also do see your point, that the Bank is not a third party. I confused that with the auto-payment to same institution requirement not to include.

Thanks again.

You got it!

Since the transaction was processed at the teller window, the cashier's check purchase doesn't count any more than if I withdrew the money in cash at the teller window.