Purchases of bank checks and drafts, cashier’s checks, money orders and traveler’s checks., 31 CFR 1010.415

Summary

No financial institution may issue or sell a bank check or draft, cashier’s check, money order or traveler’s check for $ 3,000 or more in currency unless it maintains records of the following information, which must be obtained for each issuance or sale of one or more of these instruments to any individual purchaser which involves currency in amounts of $ 3,000-$ 10,000 inclusive:

If the purchaser has a deposit account with the financial institution:

The name of the purchaser;

The date of purchase;

The type(s) of instrument(s) purchased;

The serial number(s) of each of the instrument(s) purchased; and

The amount in dollars of each of the instrument(s) purchased.

In addition, the financial institution must verify that the individual is a deposit accountholder or must verify the individual’s identity. Verification may be either through a signature card or other file or record at the financial institution provided the deposit accountholder’s name and address were ...