Skip to content

Reg E Remittance Transfer Guidelines

Answered by: 

Is it permissible for me to take all of the sender's information; provide the required combined disclosure and receipt; accept payment in USD for funds to be transferred in USD to sender's foreign account, but due to time constraints make the actual transfer tomorrow morning?

It may be permissible. If your delay means that the funds don't reach the designated recipient or account by the date you disclosed on the receipt, you could be responsible for any loss or other damage sustained by the sender.

It most certainly would be acceptable if you informed the sender of the delay and adjusted the expected delivery date, with the sender's agreement.

First published on 04/14/2014

Filed under: 
Filed under compliance as: 
Filed under operations as: 
Filed under technology 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