CTR and Check Cashing Fee for Non-Customers

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Question:

We charge a $5.00 fee for cashing on-us checks for non-customers. Do we enter only the amount of cash handed over to the non-customer or do we include the fee. For example, check is written for $10,025.00, we keep $5.00, and give the non-customer $10,020.00.

Answer:

You file on the amount of physical currency that you actually give to the individual.

First published on BankersOnline.com 3/11/13