Bank Teller key terms

A report a bank must file with FinCEN for each day a customer conducts cash transactions totaling more than $10,000, whether deposits, withdrawals, exchanges, or payments. It records the customer's identity and the transaction details.

Deliberately splitting cash transactions into smaller amounts to stay under the $10,000 reporting threshold. It is a federal crime even when the underlying money is legitimate, and tellers must watch for customers who appear to know the threshold.

A confidential filing to FinCEN describing transactions the bank suspects involve illegal activity, structuring, or fraud. Banks must file within required deadlines, and tellers should report concerns internally without alerting the customer.

The federal law requiring financial institutions to keep records and report certain transactions to help detect money laundering and other financial crimes. It underpins CTRs, SARs, customer due diligence, and the bank's anti-money-laundering program.

The process of identifying and verifying a customer's identity, understanding the purpose of their accounts, and monitoring activity for consistency. Tellers support it by confirming identity and noticing behavior that does not match the expected profile.

The natural person who ultimately owns or controls a legal entity account, such as a company. Banks must identify and verify these individuals, usually anyone owning 25 percent or more, plus one person who controls the entity.

The practice of collecting and verifying identifying information about customers before and during the banking relationship. It helps the bank assess risk, spot unusual activity, and meet regulatory obligations.

A formal designation allowing a bank to skip CTR filings for certain qualifying customers, such as listed businesses or government entities, after required review. Exemptions never apply to individuals and must be documented and periodically reviewed.

The process of making illegally obtained money appear legitimate, typically through placement, layering, and integration. Tellers may encounter the placement stage, where cash first enters the banking system.

A warning sign or pattern that suggests possible fraud, money laundering, or identity theft. Examples include a customer who is unusually nervous, refuses to provide identification, or conducts activity inconsistent with the account's normal history.

A scheme using the time between when a check is deposited and when it clears to draw on uncollected funds, often by moving checks between two or more accounts. It can produce apparent balances that do not actually exist.

Using another person's personal information, such as a name, Social Security number, or account number, to commit fraud. Tellers help prevent it by comparing signatures, asking for identification, and watching for inconsistent details.

A scam in which criminals pose as a trusted institution through email, text, or phone calls to trick people into revealing account information or credentials. Tellers should remind customers that banks never ask for passwords or PINs.

Manipulating people into breaking normal security procedures or sharing confidential information. A caller who claims to be a customer's relative, manager, or vendor may try to pressure a teller into bypassing verification.

Fake money made to look like genuine bills. Tellers check security features such as watermarks, security threads, color-shifting ink, and texture, and follow bank procedure when a note appears suspect rather than returning it to the customer.

A marker containing a chemical that reacts to the paper used in many counterfeit notes. It is only a quick screening tool because some fakes use treated paper, so tellers also inspect security features.

The teller's assigned supply of currency and coin used to process transactions. It is counted and balanced against system records at the start and end of a shift, and the teller is responsible for any shortage or overage.

The maximum amount of currency a teller is authorized to keep in a drawer at one time. When the limit is reached, the teller sells excess cash to the vault or a supervisor to reduce risk.

A procedure requiring two authorized employees to participate in a sensitive task, such as opening the vault, counting large sums, or handling night deposits. It reduces the risk of theft and error.

The secure room or container where a bank stores large amounts of cash, coin, and negotiable items. Access is restricted and typically logged, and tellers obtain or return funds through established vault procedures.

The difference between the cash a teller's drawer should contain and the amount actually counted. An overage means extra cash; a shortage means missing cash. Both are documented and investigated.

A secure drop service that lets business customers deposit cash, checks, and payment slips after banking hours. The bank opens and processes the deposits later, often under dual control.

The federal rule setting maximum times a bank may hold funds from deposited checks before making them available for withdrawal. Holds depend on factors such as account history, check type, and deposit amount.

The difference between a bank's recorded balance and the balance available at the Federal Reserve, caused by checks still in the collection process. Understanding float helps explain why deposits may not be immediately usable.

A written promise or order to pay a fixed amount of money that can be transferred from one person to another. Checks, drafts, and promissory notes are common examples.

A signature and any instructions written on the back of a check to transfer it or restrict its use. Types include blank, special, restrictive, and qualified endorsements, and the teller must verify that the endorsement matches the payee.

A written order directing a bank to pay a stated amount from the drawer's account to a named payee. Tellers verify the date, amount, signature, and endorsement before processing it.

A bank record showing the authorized signatures for an account. Tellers compare it when cashing checks or handling withdrawals to confirm the person acting is authorized.

A customer's instruction to the bank not to pay a specific check or range of checks. The bank places an order on the account, and tellers must honor it if the check is presented before it is paid.

A check bearing a future date, meaning the customer does not want it paid until that date. Banks generally treat it as not yet payable and may refuse to cash it.

A federal law allowing banks to process checks electronically by creating substitute checks from images. It explains why a customer may receive an image rather than the original canceled check.

A form listing the cash and checks a customer deposits into an account. It usually includes the account number and totals, and tellers verify that the listed amounts match the items received.

A machine that holds and dispenses currency to tellers, often recording amounts dispensed. It reduces counting errors and supports balancing, but tellers still verify amounts before handing cash to customers.

Recommending additional products or services that may fit a customer's needs, such as savings accounts or credit cards. It must be done honestly and without pressure or misleading claims.

The duty to protect a customer's personal and financial information and to share it only as authorized or required by law. Tellers should avoid discussing account details where others can overhear.

Directing a customer to a specialist, such as a loan officer or financial advisor, when their needs fall outside teller services. A good referral includes accurate information and does not promise outcomes the teller cannot guarantee.

A disclosure explaining how a bank collects, uses, and shares customer information and what choices the customer has. It supports confidentiality obligations and is typically provided at account opening.