QA2019-40 - Cash withdrawals

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Feb 01, 2024
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QA2019-40

Question


How to report cash payments – our understanding is that if cash is withdrawn from ATM it should be reported as "cash services" but if cash is withdrawn from the counter it should be reported as "payments". Is it correct?


Response


The guidance note provides a definition of F.23 Cash services: Provision of cash services to clients (both individuals and corporates, only non-MFIs). These services refer to withdrawals at ATMs and at branches counters and do not include other cash services (like cash-in-transit services for mass retailers). Cash withdrawal with cheques and at branches counters using bank forms (where cards may be used as identification means) are included. In other words, it is cash services if they are provided to non-MFIs and if they are not cash-in-transit services for mass retailers, regardless whether the withdrawal is from ATM or counter.