Question of the Week

Question: If a member uses the coin machine in our lobby, would the cash in for this transaction be aggregated with other deposits made during the same day?

Answer: Yes. This still counts as “cash-in” and is a transaction in currency for purposes of reaching the $10,000 threshold for filing. 

This is considered a currency exchange, as the member is trading one kind of currency for another. The fact that the member subsequently takes that total in other cash does not diminish the size of the deposit.