BCOP Defined
Created to effectively mitigate risk ____________ was created to address the specific risk of cash handling and storage procedures for all branches of the Bank.
What is Branch Cash Operations Policy or BCOP.
Each Teller Drawer is equip with $100 in $20 denominations to be used only in the event of a robbery is call what?
What is Bait Money
True or False. MVB will cash checks for customers and non-customers.
True
The maximum limit of a teller drawer?
What is $10K
Customer is paying both regular and principle payment. What ticket is complete?
What is Loan Ticket, one for principle and one for regular payment.
Processing transactions, securing negotiables in the presence of and under the direct observation of a second person.
What is Dual Control
True or False. Branch Managers or supervisory staff are responsible for auditing all cash drawers and branch vault at least once per month.
What is True
When cashing a check, positive identification must be made for the individual cashing the check. Name three of the acceptable forms of id.
What is:
1. Valid Government issue ID
2. Military ID
3. Valid Passport w/Photograph
4. Employment Authorization Card w/photograph
5. Current Year student/school ID with photo for minor
**Local Government or Company ID w/Photograph (can be secondary ID with one of the others listed above.
Maximum limit in the top teller drawer.
What is $3,350
When selling money to the vault, what ticket is completed by the Teller?
What is a Vault Cash-In Ticket.
Two individuals' present and gaining access to an area such as the vault.
What is Dual Presence
True or False. Monthly Branch Teller Drawer audits are completed the same time each month for a teller.
What is False.
True or False. Middletown Valley Bank can refuse to cash a check if there is doubt in the validity of the check, ability to collect on the check, or positive ID
What is True.
A qualifiying teller drawer difference is described as any over or short of ______ or more.
What is $5.01
What are the three steps you should take when identifying a counterfeit bill?
What is feel the paper, tilt the note and check the light.
Completed once a month to ensure appropriate cash limits are maintained and everyone is adhering to proper cash security control policies and procedures.
Teller/Cash Drawer audit.
How often is a vault audit completed by a member of the Retail Services Management team?
What is Annually.
True or False. Middletown Valley Bank will only cash a check for a non-MVB customer if the check being negotiated is drawn off of an MVB account.
What is True.
True or False. Branch employees are responsible for balancing the ATM at their branch.
What is True?
The standard FDIC insurance amount per customer.
What is $250K.
Counting each individual bill and coin is known as a ______________ count.
What is a fine count
The Monthly Vault Audit is completed under dual control by which two parties?
Who is the Auditor and Verifier.
Threshold of check cashing approval for a Branch Banker.
What is under $1K.
When a teller has a different of $5.01 or more, what worksheet must be completed?
What is the Teller Difference Sheet.
Name three ways banks make money.
What is:
1. Charge interest on money "loaned" out
2. Invest funds in government securities
3. Charge feeds on products and services offered.