CTR or Bond Redemption - Non-Customer File

Answered by:

Question:

Is there any reason to create a file on a non-customer for CTR or bond redemption?

Answer:

If you are referring to a separate file or CIF entry for the non-customer, the benefit would be minimal (if any). I could see some benefit if you were able to retrieve identification information from a CTR on the individual in the event that he or she made a repeat visit that occasioned another CTR. Of course, you would have to maintain the CTR or bond redemption record in your CTR/bond redemption files.

First published on BankersOnline.com 11/17/08