If a customer withdraws $6,000 in the morning and $7,000 in the afternoon on the same day, does a CTR need to be filed?

• A. No, CTR applies only to deposits
• B. Yes, because withdrawals total more than $10,000 in a single day
• C. No, because each withdrawal is under $10,000
• D. Yes, because withdrawals are in different directions

Answer: (B)

Cash transactions are reported when a customer conducts cash activity totaling more than $10,000 in a single business day. In this case, the customer withdraws $6,000 in the morning and $7,000 in the afternoon, which adds up to $13,000 for that day. That total exceeds the $10,000 threshold, so a Currency Transaction Report must be filed for the day.

It’s not limited to deposits; withdrawals count as cash transactions. The trigger isn’t about each individual withdrawal being over $10,000, but about the combined amount for the day. The direction of the transfers doesn’t matter—reporting focuses on the amount of cash activity, not whether money is moving in or out.