Check Log Required if Cashiers Check Over 10k?

Answered by:

Question:

If a customer purchases a cashiers check with cash over $10,000 I know the CTR is required, but are we still required to do the check log? I thought the check log register was only for amounts $3,000.00 - $10,000.00.

Answer:

The "log" -- actually, it's a recordkeeping requirement and doesn't require the use of a "log," but many banks still do -- requirement only applies to purchases of monetary instruments for cash amounts from $3,000 to $10,000 inclusive. Many banks have elected to records all cash purchases of monetary instruments, however.