Back in the day we used to use dual control when processing mail deposits. I tried to search online to see if this is still a best practice. I could only find a post from 2001. Does anyone know what the industry standard is for processing and recording these?

Thanks,

We still require dual control.

we still process mail and night deposits under dual control and we record both in separate log books. i've been doing BSA for over 20 years and i've never been asked to produce any documentation for this. i suppose it was best practice at some point in time

This is not a BSA issue. All it takes is for one customer to come in and say, I put $15,000 in cash in that envelope.

If you only have one employee handling these - who you going to believe and how are you going to prove it?

We get few mail in deposits; if just checks we take them to the branch for processing. If cash is in the envelope; we fill out the ticket and have 2 employees initial the amount of cash and then take it to the branch for processing.

we also require dual control. and if cash is actually received, we reach out to the account officer and have them contact the client and remind them they should not be sending cash through the mail. and try to convert them to mobile deposit for checks, although many of our more age advanced clients do not wish to use mobile deposit and like the old fashioned way of mailing

We still use dual control.

Also wondering on your logs do you record the amount of cash received in each deposit?

Baker - we do record the amount of cash received in each deposit.

My question is for branches that don't get a lot of mail, do you record on the log each day that there is no mail with deposits?

Our mail and night drop deposits are recorded on the same log. If there are no night drop deposits, we notate that so that the log shows the night drop was checked. We only record mail when it's received, but don't make a note if there was no mail that day, since we don't have to access a secured area to check for mail.

That's what a good camera system is for!