C3 Financial was developed to assist in optimizing cash levels at the office. C3 Financial calculates office usage on a given day and makes cash Order and Deposit recommendations as Guidance. Guidance is a tool that is calculated based on historical usages of the office. Knowledge of office's trends and peak seasons should be used when determining an order. If you suspect that the suggested Guidance is not a true representation of your office, e-mail _SupportU.
See C3 Financial > Cash Deposit tab > #4 US Bank Required Strap/Bag Amounts for additional details
Adding a Weekly Deposit
To add a weekly deposit, do the following:
- Click Add New Requisition at the bottom of the Branch Requisition page.
- Under Type, click on Deposit.
- If there is no deposit for the week, check No Requisition Required.
- If the deposit differs from the recommended Guidance in any denomination, clear out the field in the Request cell and type in what the deposit is. Decimals are not required.
Notes Section
If the deposit order differs significantly from the C3 Guidance recommendation ($10,000 or more) enter detailed notes in the note field. For example: Keeping excess cash due to Watermelon Festival.
Strap Preparation
All deposits are to be prepared in the Vault by the LT (Single Control Vault) or the Acting Vault Custodian and the dual control associate (Dual Control Vault) who are actively involved in the process and verify each step for accuracy.
Currency
- Strapped currency should be neat, but is not required to be stacked in the same direction, portrait forward, and heads up.
- Bundle by denomination, 100 notes per strap. Use the appropriate strap based on denominations.
- Each strap should be teller stamped and signed by LT (Single Control Vault) or the Acting Vault Custodian and the dual control associate (Dual Control Vault) with first initial/last name.
- Unfit currency should be mixed in with fit bills when preparing a deposit.
Bag Limits
Each courier service has set limits for the amount of cash that can be placed in a bag. For uniformity, Retail Support has set the bag limit at $200,000 for ALL OFFICES. When a deposit is over $200,000 follow the "Bag Preparation" and "Deposit Slip Preparation" procedures.
Currency Preparation
Currency Bag Preparation
The LT (Single Control Vault) or Acting Vault Custodian and the dual control associate (Dual Control Vault) must verify the information listed on the outside of each bag is correct.
To prepare a deposit bag for currency, do the following:
- Use as many bags as is required to meet the bag limit requirement.
- Use a black marker.
- Complete the outside and top strip of each bag by following the examples.
- Be sure to write the number of each bag and the total number of bags in the deposit (for example: 1 of 1 Bags, or if multiple bags, 1 of 2 Bags, 2 of 2 Bags).
- On the Cash Amount line, write the amount of currency that is in the bag.
-
On the Total Deposit line, write the amount of the deposit for the bag. - Tear off the completed top strip of each bag with the identifying numbers and attach to the vault balance sheet.
- The totals on each strip should equal the total amount of the deposit.
- Each bag must have a separate deposit slip for the total amount of that bag.
- After the outside of the bags are completed, place the appropriate amount of currency in each bag.
- Prepare the deposit slip before sealing the bag.
- A deposit slip is placed in each bag.
Note: The LT (Single Control Vault) or Acting Vault Custodian and the dual control associate (Dual Control Vault) must verify the strap count amount going into each bag matches the totals listed on the deposit slip.
US Bank Required Strap/Bag Amounts
Currency Strap |
Deposit Standard |
Bag Coin |
Deposit Standard |
|---|---|---|---|
Denomination |
Strap Amount |
Denomination |
Strap Amount |
Hundreds |
$10,000 |
Dollars |
$1,000 |
Fifties |
$5,000 |
Halves |
$1,000 |
Twenties |
$2,000 |
Quarters |
$1,000 |
Tens |
$1,000 |
Dimes |
$1,000 |
Fives |
$500 |
Nickels |
$200 |
Twos |
$200 |
Pennies |
$50 |
Ones |
$100 |
||
Currency Deposit Slip Preparation
Currency and coin cannot be listed on the same deposit slip. Complete A DEPOSIT slip for all currency.
When completing a US Bank deposit slip for currency, ensure the following:
- List each denomination with its total separately.
- List the grand total at the bottom and along the side where indicated.
- Deposit Slip Signature Requirements (first initial/full last name)
- Single Control Vault - Lead Teller only
- Dual Control Vault - Acting Vault Custodian and Dual Control Associate
- Place the original currency deposit slip in each bag and seal all bags.
- Attach the duplicate deposit slip to the vault balance sheet.
- Record the shipment amount in the Loomis Customer Consignment Log.
Coin Preparation
All deposits are to be prepared in the Vault by the LT (Single Control Vault) or Acting Vault Custodian and the dual control associate (Dual Control Vault) who are actively involved in the process and verify each step for accuracy.
- Office coin is shipped loose in US Bank standard amounts in a tamperproof plastic bag.
- Do not send wrapped coin.
- Exception to the standard amount is dollar coins which can be sold in increments of $100. One bag can contain increments of $100 up to the standard amount of $1,000.
Business Coin Preparation
If the coin being shipped is business coin already bagged by the client:
- DO NOT open the bag.
- Remove the client tag that is affixed to the outside of the bag.
- Retain the tag for your records.
- Complete a new office coin bag as detailed below, labeling it appropriately.
- PLACE the entire UNOPENED client bag INSIDE a clear coin bag that has the pocket in the back for the deposit slip.
- Complete a deposit slip and place it in the pocket.
Coin Bag Preparation
In order to streamline the coin deposit process and ensure timely and proper credit from US Bank, all coin deposits must be processed as follows:
- Coin must be shipped in clear tamper-resistant coin bags that have a back that holds the deposit slip.
- Using a black marker, complete the outside and top strip of each bag.
- Write the coin amount that is in the bag on the appropriate denomination line.
- Write the total amount of the deposit on the Grand Total Line.
- If shipping multiple bags of coin, EACH bag of coin MUST have a deposit slip.
- Complete the top strip.
- The LT (Single Control Vault) or Acting Vault Custodian and the dual control associate (Dual Control Vault) must verify and sign (first initial/full last name) each:
- Outside strip of the bag
- Top strip
- Deposit slip
- Tear off the completed top strip of each bag with the identifying numbers and attach it to the vault balance sheet.
- After the outside of the bags are completed, add the loose coin. Seal the bag and place the deposit slip in the pocket on the back of the bag.
Coin Deposit Slip Preparation
Complete a US Bank deposit slip as follows:
- Currency and coin cannot be listed on the same deposit slip.
- Complete one deposit slip for EACH coin bag.
- List the total at the bottom and along the side where indicated.
- Deposit Slip Signature Requirements (first initial/full last name)
- Single Control Vault - Lead Teller only
- Dual Control Vault - Acting Vault Custodian and Dual Control Associate
- Attach the duplicate deposit slip to the vault balance sheet.
- Record the shipment amount in the armored courier manifest book.
- Attach the signed courier shipment manifest to the Vault Balance Sheet.
FMI Bag Ordering Info
Coin Bag with Pocket - 2222540
9 X 12 Currency Bag - 2222515
12 X 16 Currency Bag - 2222520
15 X 20 Currency Bag - 2222527
19 X 28 Currency Bag - 2222530
C3 Financial
- After the deposit has been picked up by the courier, log into C3 Financial Cash Calculator - C3 web site.
- The Fulfilled button must be selected to log the completed deposit into the C3 Branch Ledger.
- The deposit may also be edited as necessary.
Vault Balance Sheet and Teller System Entries
DO NOT:
- Make deposit entries on the Vault Balance Sheet OR process the deposit in the Teller System until after it has been picked up by the courier.
To complete the vault/US Bank entries, do the following.
-
Speed Key 9/Tran Type 441 US Bank Sell Cash
- Process each deposit slip/sell as a separate transaction in the Vault Teller System drawer.
- If the shipment contains more than 1 deposit slip, (for example: currency and coin), complete a US Bank GL transaction for each deposit slip.
- Ensure the US Bank Deposit slip, US Bank virtual GL debit and cash out totals match.
- Create a virtual cash out.
- Create a virtual Debit to US Bank.
- In the Instrument field, enter BR XXX where XXX is the office number.
- Vault entries must post to GL the business day the order is picked up.
Deposit Discrepancies
Deposits to US Bank indicating a shortage or overage will be reviewed and researched by Retail Support. Contact a Retail Support associate if there are questions.
Click on the accordions below for details on office cash deposit discrepancies:
Identified by Office
If the office suspects an error has occurred in a deposit to US Bank after the deposit has been picked up:
- Process all tickets for the original amount of the US Bank deposit ticket.
- The US Bank GL Entry and Vault Teller System Entry Totals MUST MATCH the US Bank Deposit Ticket total.
- This will cause the vault to be out of balance.
- Accept and process the outage with an over/short GL and in/out to the vault.
- If the outage is $2,000 or greater, complete an audit and follow the audit and notification requirements.
If US Bank determines and notifies CCB that there was an error in the deposit, recovery entries will be completed by Retail Support.
Identified by US Bank
Individual straps shipped to US Bank may be over, short, or contain counterfeit bills. Teller strap errors are mailed to Retail Support. Adjustment entries to the office cash over/short GL account are made to offset the cash errors.
If US Bank notifies CCB that there is an error in a shipment, entries will be completed by Retail Support.