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BSA - Logging Cash Advances

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Should you log a cash advance to the BSA log after the cash advance was used to purchase a Cashiers Check? No money was exchanged.

No. Unless the customer physically brings in cash to purchase a monetary instrument, the purchase is not subject to the recordkeeping requirements for purchases of monetary instruments between $3,000 and $10,000 in cash.

First published on 05/05/2024

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