Check Holds Large Outgoing Funds Procedures Jeopardy Template

Check Holds	Verification	Large Outgoing Funds	CTR & SAR
100 How long is a new account hold? 9 Business Days	100 What program is used to determine if a check should be placed on a hold? Check Hold Stop Light	100 All cash withdraws for ______ or more through the drive thru must be approved by a supervisor prior to the transaction being posted. $2,000 or more	100 What does CTR stand for? Currency Transaction Report
200 How long is a safeguard exception hold? 5 Business Days	200 It is recommended to use the Check Hold Stop Light program when presented with checks in the amount of ______ or more. $1,500 or more	200 Wire transfers over ______ must be reviewed and approved with the signature of the approving employee. $5,000	200 What does SAR stand for? Suspicious Activity Report
300 What is the amount that is available the same day for a safeguard exception? $225	300 It is required to use the Check Hold Stop Light program for large checks of ______ or more. $5,000 or more	300 Currency exchanges should be run through the member’s account for amounts over ______ so that there is a paper trail. Over $500	300 Federal law requires financial institutions to report currency (cash or coin) transactions over ______. Over $10,000
400 Why don’t we typically use the “Large Deposit” safeguard exception? It releases $225 the same day and $5,300 the next day	400 List the 3 outcomes of the Check Hold Stop Light and what they mean. Green Light – No Hold Necessary Yellow Light – Follow Normal Check Hold Procedures Red Light – Place Check on Hold or Review with Supervisor	400 If in doubt, what department should you call for further assistance and guidance? Call Loss Prevention after asking your manager	400 If there are multiple currency transactions that total to be over $10,000, should you file a CTR? Yes
500 What are the 5 safeguard exceptions? Reasonable Cause to doubt collectability. Large Deposit. Redeposited Check. Repeated Overdrafts. Emergency conditions.	500 If it is determined after review that a check does not need to be placed on a hold what do you need to do before depositing the check? Place a Check Hold Waiver Note on the account	500 If a member is requesting a large withdrawal and you are not able to accommodate the full amount the same, what are some alternatives you could offer them? Cashier’s check Order cash Ask another branch if they can accommodate the withdrawal	500 If a member withdrawals $6,500 at the Jenison branch, $4,000 at the Hudsonville branch, and $1,200 at the Allendale branch, which branches are required to file a CTR? Hudsonville and Allendale

Check holds & Large Outgoing Funds Procedures

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