Skip to content

Procedure for Keeping Cashier's Checks

Answered by: 

Question: 
What records must a bank keep regarding cashier's checks that are purchased? Do they have to have a log with the number of the check, when and who purchased it, and to whom it was payable? Where must they keep them and how long must they keep carbon copies?
Answer: 

Any record retention requirement for cashiers checks per se would be a function of state law or regulation. BSA requires record retention in connection with monetary instruments sold for currency between $3,000 and $10,000 inclusive.

First published on BankersOnline.com 8/15/11

First published on 08/15/2011

Filed under: 

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