Indicating Cash on Deposit Slip

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Question:

When a deposit slip is filled out the cash should be indicated on the deposit slip as cash. How important is this? We have tellers filling out the deposit slips with the total amount of cash as the total amount of the deposit. I know the BSA states "the slip or ticket shall record the amount of any currency involved". Does the amount of cash need to be in the line for currency and the deposit total line? Do the regulators really check this?

Answer:

The goal of that wording in the regulation is the ability to reconstruct a deposit and determine the amount of cash (if any) involved. Ideally, customers complete their own deposit slips, but I realize that many banks are willing to assist them. Tellers should indicate the amount of cash involved in the appropriate space on the deposit ticket. However, if there are other ways to determine the amount of cash (such as a cash-in slip that accompanies the deposit or a cash-in entry to the bank's system that can be identified from the deposit ticket), I believe the regulation wording's purpose is satisfied.

First published on BankersOnline.com 10/22/07