Foreign Currency Purchase

Answered by:

Question:

Is there something that needs to be filled out if a customer purchases foreign currency over $3,000.00 in cash?

Answer:

Some banks might have a procedure that would record customer data just in case other cash transactions aggregated with this one would trigger the need for a CTR. I am not aware of any regulatory requirement that such a record be made, however.

First published on BankersOnline.com 6/29/09