Latest Security - Official Checks Topics

BSA - Is Savings Bond a Monetary Instrument?

05/18/2009

Husband and wife customers came in and purchased $10,000 in savings bonds. They used a $4,000 on us check and a $3,000 savings withdrawal and $3,000 in cash. Our bank completes Monetary Instrument Logs for Official Checks, Travelers Checks, and Cashier’s Checks that are purchased with cash between $3,000-$10,000. Would a Savings Bond qualify as a "Monetary Instrument"?

"Refusal to Pay" Fee?

08/21/2006

I know you can't "stop payment" on a cashier's check but you can "refuse to pay" if the remitter or payee asserts a claim in writing because the check is lost, destroyed or stolen? Can we charge the customer our Stop Payment Fee of $20.00 for this service or would we have to change our Schedule of Fees to include a "Refusal to Pay" fee before we could charge for this service?

OFAC Verification on Cashier's Checks?

01/16/2006

Is my institution required to perform OFAC verification on cashier's checks?

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

07/01/2005

Counterfeit Cashier's Checks

02/01/2004

Stopping Payment On A Cashier's Check

10/01/2002

Question & Asnwer

09/01/2002

Put Back The $3,000 Log!

05/01/2000

Alerts & Counterfeits Chart 1st - A

01/01/2000

One Last Word On Y2K

10/01/1999