A
How often is a vault verification required to take place?
Once a week
Who should be present in the vault during verification?
The vault teller/custodian and the authorized individual doing the count.
Where should the vault cash and coin logs be at the time of the verification?
Cash and coin logs must be left outside of the vault during the count
Who completes the balance in mTell?
The vault teller/custodian
When must cash be ordered for our branch?
Wednesday morning before 10 am.
Who can perform the vault verification?
Employees who were granted authority by their manager
Who is completing the Vault Verification Sheet (TA-029)?
The individual counting the vault, not the vault teller/custodian
All straps of currency within the vault may not have a date older than how long?
30 days
What do you do with the Vault Verification Sheet (TA-029) after the count is completed?
T/F: Unfit money can be shipped together with regular money
False, unfit money must be shipped in a separate bag and have a separate Cash in transit ticket created for the shipment
T/F The vault/teller custodian should wait until the end of the day to record all the cash/coin transactions in their logs.
False: Vault/teller custodians should record any cash/coin activity in the cash/coin log immediately to avoid any potential mistakes
Are there any other counts that can also be used as a Weekly Vault Verification?
Yes, Monthly Sporadic and Vault Transfer can both be used as a Weekly Vault Verification.
What additional documents need to be reviewed after exiting the vault?
Compare figures from the TA-029 to the vault cash and coin logs
When shipping money out, how many people must prepare the shipment and bag?
Two - The vault custodian and one other person
Where does a vault/teller custodian log the cash and coin activity for the vault?
Best practice: Set a calendar reminder in Outlook or write on physical calendar at desk
What type of count occurs during Vault Verification (Fine or Bulk)?
Bulk Count
Who signs the Vault Verification Sheet (TA-029)?
The vault teller/custodian & the authorized individual performing the count
50's and 100's must be fine counted (both people counting must initial straps, everything else can be bulk counted
How often does a vault/teller custodian do a balance of the vault, how is it counted (bulk/fine), and how is it logged in the cash/coin log?
Daily Balance must be done once a day, bulk counted, and is recorded in the cash/coin logs as "DB"
What form is required for vault verification?
Vault Verification Sheet (TA-029)
What type of count is occurring during a Monthly Sporadic (Fine or Bulk)?
Fine Count
What should you do if there is a discrepancy in figures?
Cash and/or coin lockers need to be reopened and the denomination in question verified
How is Employee Authority determined? (How do you know if someone is verified?)
It will be noted on the the employee's BR-928
What are the procedures for when money is shipped in for a vault/teller custodian?
Money must be secured in the vault until the vault/teller has time to fine count and re-strap cash. When teller counts money, all loose money needs to be fine counted and re-strapped. Money in Fed bags do not need to be opened and can be bulk counted. Once vault teller has counted all cash and can verify that all cash is accounted for and is correct on the shipment sheet, they must grab a second person to complete the procedures in mtell to accept the cash in their drawer. They must also update their cash/coin logs to reflect this shipment in as well.