This deposit was after normal banking hours, so it was recorded as of Wednesday’s business date. What action should the bank take?

Last Updated on January 25, 2022 by Admin 2

The manager of Main Street branch calls and relates the following information: John Smith purchased a cashier’s check for $1,000 cash at 10:00 a. m. on Tuesday. At 11:30 a. m. Mr. Smith returned and purchased a cashier’s check for $2,500 cash and deposited traveler’s checks totaling $9,000 into his checking account. At 4:00 p.m. Mr. Smith returned and deposited $8,000 cash into his checking account. This deposit was after normal banking hours, so it was recorded as of Wednesday’s business date. What action should the bank take?

  • None, because no single cash transaction exceeded $10,000
  • File a Currency Transaction Report (CTR) for $11,500
  • Record the $1,000, $2,500, and $9,000 transactions on the bank’s monetary instrument sales log because the total exceeds the $3,000 threshold
  • Record the $1,000 and $2,500 transactions on the bank’s monetary instrument sales log because the total exceeds the $3,000 threshold
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