CTR & currency exchange question

Posted By: nemsi

CTR & currency exchange question - 05/10/12 12:41 PM

If a business customer makes a $9,000 deposit and also brings in $1,500 in a "change order" is the transactions reportable. I say "yes" $10,500 cash was brought into the bank- deposits and currency exchange. There's a difference of opinion with others in the area. Some say "NO" CTR. The money would have to go into the customers account and it didn't.
Thanks for your help!
Posted By: ACBbank

Re: CTR & currency exchange question - 05/10/12 01:00 PM

You would be correct. Currency exchanges are aggregated as both cash ins and cash outs. In your case you would be filing a CTR for $10,500 cash in. Make sure to check off the currency exchange box as well.
Posted By: MsFaye

Re: CTR & currency exchange question - 05/10/12 03:01 PM

Cash crossed over the counter - it's reportable.
Posted By: nemsi

Re: CTR & currency exchange question - 05/10/12 03:50 PM

Thanks to both of you for your response.