Latest Security - Cashier's Checks Topics

OFAC - Cashing Non-Customer Payroll Checks

07/17/2006

We cash payroll checks for one of our business customers. The employees of this company are not our customers. Do we need to do an OFAC screen on each of these workers when they come to our bank to cash their payroll checks?

Under BSA are Savings Bonds a Monetary Instrument?

12/05/2005

Are Savings bonds considered a monetary instrument under the BSA?

If It's a Bank Check, It's Gotta Be Good ... NOT!

07/01/2005

Received Advice to Buy Multiple Cashier's Checks

01/31/2005

I need to have a cashier's check to pay a legitimate debt and I was told by the girl in the bank to make 2 or 3 different checks under $10,000.00 and wait a few days between them. Why should or shouldn't do this and why did she tell me to wait a few days between them and how many days are a few?

Bogus Cashier Check Warnings and Reg. CC

01/17/2005

We are receiving Security Alerts daily regarding counterfeit cashiers checks. Would this fall into the exception reason of "Reasonable cause to doubt collectibility" for out of state cashier's checks deposited to our customers accounts where we can place extended holds on these checks?

Privacy and Check Verifications

02/16/2004

Recently, I called another bank to see if a check that my customer had would clear on the account drawn at their bank. They told me that due to privacy laws they could not give me that information. All I needed was to give them the amount of the check and for them to say yes or no on whether or not it would clear. Does the new privacy law really prevent from a bank from being able to call to see if a check will clear?

Counterfeit Cashier's Checks

02/01/2004

Verification of Cashier's Checks

09/02/2003

With all the counterfeit cashier's checks being given, how should we handle verifying that they are good and giving immediate credit on new accounts or for deposit?

Protecting Customers from Fake Cashier's Checks

02/03/2003

New Services Available At ATM

10/01/2002