Selling Cash to the Federal Reserve

Supplies you will need: Electronic Deposit tickets for the Fed, Cash straps and Plastic deposit bags.  

Using the electronic deposit tickets – For your convenience, the PDFfiles are fillable for easier data entry.  Complete the fields on Copy A.Copies B and C will auto-fill with the information entered on Copy A. Thenplease print the forms, separate, and send Copies A and B with your deposit. Itis recommended that you retain Copy C of the completed form for yourfiles.  NOTE: THESE FORMS SHOULD BE TYPED AND NOT HANDWRITTEN.

1. In dual custody remove the bills that are going to be sold, run bills through the machine to verify the amount.
2. We put our bundles together as requested from the Federal Reserve.

• Remove any pins, clips, staples, or small rubber bands.
• Bundle the currency by denomination in ten equal straps (100 notes in each strap). A full bag may not contain more than 16 bundles.
• $1 through $20 denominations must be deposited in full bundles. I.E ones need to be bundled as $1,000 to sell – 10 straps of 100. Use the large rubber bands you get with the cash orders and put one on each end.
• $50 and $100 denominations may be deposited in full straps or full bundles
• For all denominations, bands must be arranged within the bundle so that all of your stamps within the bundle are facing in one direction. For $50 and $100 denominations your stamp must be placed on the back outside of the band.
• Each band must be stamped with your organization’s name and ABA routing number, 4 digit branch number of the depositing branch (i.e. 0007 or 0012), dollar amount in the strap, initials or names of the persons who verified the strap, and date of verification.
• Your servicing Reserve Bank requires you to include a deposit document, or ticket, with your deposit or provide an electronic notification.
  Use the reference guide for a visual.  Fed Cash Deposit User Guide.pdf

1. Fill out Fed deposit ticket and Deposit bag. Example; To: Seattle, From: Originating Branch Address, Account number is our routing number.
2. Put your bundles in the bag, seal it and put it back into the vault.
3. Fill out you Loomis log for the deposit
4. After Loomis has picked it up do the GL entry for cash deposited

From: 72900100 – Receivable – Coin / Cash Deposit

To: 73900200 – Vault Cash

Memo: Cash to Loomis