Hi,Do any of you have a software program that OFAC's official checks behind the scenes, or do your tellers perform the OFAC at time of purchase?If you have a program, would you mind sharing the name?If your tellers perform the OFAC, do you OFAC every check, or do you have a dollar threshhold that has to be met before you OFAC?We have members who cannot qualify for checking accounts, so every month our teller can cut up to 10 official checks from their account to pay bills (rent, phone, gas, etc.). Our telles are manually entering each check into an OFAC system and waiting upwards of 3 minutes for each check to be verified. If the OFAC fails, overrides need to be performed by management before the transaction is completed.Right now we do have a dollar threshhold but I believe it should be reduced. I know OFAC does not care what the dollar amount is if the person is on the SDN list.Our members can obtain an official check for any dollar amount, however our money orders that are sold in blank and would not be processed through OFAC have a dollar limit of $1000.Thank you!
July 16, 2012 - 2:57pm
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