Hi all - I've tried reading up on Multiple Transactions in Part 1 (3) of CTR's, but I am confusing myself.

A husband came into the bank to deposit in his two joint accounts held with his wife.
DDA gets 9k cash, SAV gets 2k cash.

In Part 1 (3), would both him and his wife have the Multiple Transactions box marked?
Or do I have a misunderstanding on what Multiple Transactions means in CTR terms?

Online, I have read the following:
If multiple transactions are by or on behalf of the same person and result in currency received or disbursed totaling more than $10,000 during any one business day, they must be treated as a single transaction.

This reading tells me we would not mark Multiple Transactions.
I would appreciate some terminology breakdown on what Multiple Transactions is referring to,

Thank you

I found the following on Bankers Online already but was thrown off:


Q: When should the box for "multiple transactions" be checked?

A: Multiple transactions are any two or more transactions which the financial institution has knowledge are conducted by or on behalf of any person during the same business day and which result in a total cash-in or cash-out of over $10,000. In these cases, box "lc" (multiple transactions) should be checked. Example: A customer places one deposit bag into the night depository at a bank on Friday night, two bags on Saturday and two on Sunday. Then on Monday morning, a teller processes all five deposit bags and deposit slips at the same time, but posts each individual deposit separately.

This should be reported as a multiple transaction. However, if the customer places one bag containing the five deposits in the night depository over a weekend, and the teller processes the deposit on Monday morning - totalling the five deposits and showing a single cash-in transaction, the financial institution may report it as a single transaction so that the CTR reflects the financial institution's records.


Does a "single cash-in transaction" refer to the customer coming up to the counter with the entire 11k (in our scenario) and splitting the deposit?
Or is it treated as multiple, since there were two cash in transactions (9k and 2k) for Deposit Ticket purposes?

The FAQ is saying "follow your procedures." If you consider a single visit to be a single transaction, then don't check multiple transactions. If you consider the use of two deposit slips to be multiple transactions regardless of the number of visits to the teller, then do check multiple transactions.

Document your procedure and be consistent in your application of it, and you're fine.

Understood!
Thanks for clearing it up, Brian!

This is a really great question, thank you for posting.

Every FI I have worked at in the past has considered "multiple transactions" to be multiple transactions. So, John Doe makes five transactions that equal over $10,000.01 or more, then "multiple transactions" is checked.

At my current FI however, "multiple transactions" means multiple visits; so John Doe makes three deposits at noon that equal $8000.00, then comes back at 4pm and makes two more deposits that aggregates over $10,000.01, then THAT is considered multiple transactions.

Based on a recent audit, we look to see if there's a single transaction reference number or multiple reference numbers when checking that box. It is unrelated to how many times you come up to the teller line.

Procedure A: Customer brings in $15,000 cash, with deposit slips for three checking accounts, showing $5,000 being deposited to each account. Bank teller creates on cash-in ticket (or entry) of $15,000 (a debit for you double entry accounting fans) to offset the three deposit account credits.

Procedure B: Same facts, except the teller creates three $5,000 cash-in tickets or entries, each one of them offsetting one of the deposit slips.

Procedure A would call for leaving the multiple transactions item unchecked. Procedure B would call for the multiple transactions item to be checked.