Due to the recent FinCEN interpretation regarding sale of monetary instruments for cash we are now back to logging these sales on an Excel spreadsheet. Is anyone aware of an automated system that will do this recordkeeping for you?
We would be interested in some information on the product.

Luckily for us, our teller system (Vertex) provides a log once a check is cut. Also provides great reports for BSA/CTR .

is Vertex the name of the software or company
a Vertex web site did not appear to say anything about banking so I am not sure I went to the right place

please advise and thanks for the inforamtion

It's our "teller machines". I think it may be a product of Jack Henry and Assoc.

Vertex is the Jack Henry & Associates teller platform. You must be a JHA user. Great software for core products, teller and platform automation.

Vertex (JH) is also what we use and it has been quite a time saver.

WE use a teller platform system 'EZ Teller" which provide an official check report that list all checks sold,numbers amounts, location e.g. great for research. In addition, this system provides a BSA Log which contains all the necesary information in an automated form. This system is inter-faced with Jack Henry. The information is stored and we print them out monthly to be retained in a central location. The only drawback is that there is still a need to manually track some sales. The sale to non-customer.. rare but sometimes happens and when we have knowledge that the customer deposited cash into thier acccount and are now writing a check from the account to purchase a monetary instrument.. again this is rare but a couple of instances when we manully capture these transaction and just transfer the information onto the the printed BSA.

Ditto on that, JHA is (was) wonderful.

We've had Vertex Teller system for five years now and it is wonderful as far as BSA goes. The system determines at the time of the transaction by tracking cash-ins and outs if a CTR or MIL is required. It also allows you to create files in the "Work With Persons" for non-customers (customer information pulls from CIF) that purchase checks or are conductors and that information stays on Vertex, so you don't have to get the same information if the non-customer is a repeater.
The only draw back to Vertex is isn't set up for electronic or magnetic filing of CTRs. A problem I think they are going to address in a coming update in early 2004.

The people at Vertex are always very helpful when we have a problem and they have excellent training.

p.s. Vertex also has a option for cashing savings bonds that calculates the amounts for you and creates a file at the end of the year for tax reporting.

Could you tell me how you access those great reports for BSA/CTR? We are new to Vertex and have not been able to identify them.

I'am sure there are many ways to get to this information. But the way I print the logs are two options on my menu-
Monetary Instrument Log & Print Monetary Instrument Log. The first option lets you look at what's there and there are options at the bottom of the screen (F Keys) that allow you to go to a screen titled "List Criteria'. The other menu option, Print MIL, takes you directly to this same screen. It allows you to set parameters for what you want to print.

I know menus and options can be changed by the IT department in each bank so you may want to talk to someone in that department or call the nice people at Vertex. I'm sure they can help you with where your menu options are located.

Is there a way to search Vertex M/I Logs by name for FinCEN Search purposes?