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Withdrawals Over $10K from ATM-CTR?

If a client withdrawals over $10K from an ATM machine over the weekend, Saturday and Sunday are we required to file a CTR on our client?

Randy Carey: Of course you are and most likely a SAR for structuring also.


John Burnett: Unless, of course, there is a physical or systematic limit on cash withdrawals. If, for example, there is a limit on cash withdrawals of $5,000 per day, and the customer makes three $5,000 withdrawals over the weekend, I'd be less likely to consider a SAR filing.

First published on 12/20/2020

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