Skip to content

BSA & Recording The Amount of Currency

Answered by: 

We have been informed that required records to be retained for BSA compliance including credit slips for loan payments, money orders, etc must show the amount of any currency involved.Is this, in fact, a requirement of BSA rules?

Take a look at 31 CFR 103.34(b)(13): "Each deposit slip or credit ticket reflecting a transaction in excess of $100 or the equivalent record for direct deposit or other wire transfer deposit transactions. The slip or ticket shall record the amount of any currency involved."A liberal reading of the "credit ticket" wording suggests that a loan payment coupon that's offset by cashin should have an annotation of the amount of cash involved.

My thanks to Ken/Pegasus for his help with this one.

First published on 05/19/03

First published on 05/19/2003

Filed under: 
Filed under compliance as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics