Hello Everyone,
Is bait money still required by either the NCUU and/or your insurance carrier?
With the advent of TCRs and employees who may help out on the teller line but whose primary job duties do not include doing teller work, does anyone know if each person working on the teller line is required to have bait money. Some of our employees may jump on the teller line just at busy times and use pods without cash drawers to perform teller transactions. It does not make sense that they would need to maintain bait money on the teller line as this could lead to a dangerous situation if a robber was to witness most of the cash the employee gives them coming from a cash recycler or cash dispenser and then seeing the employee add a separate, small amount of money to the money handed to the robber.
If bait money is required for each person doing teller transactions, is anyone aware of technology that might be incorporated into the cash dispenser or recycler that would take photos of, let's say, five of the bills that are dispensed when the teller inputs the robbery code that results in the machine dispensing a set amount of cash to give to the robber?
Thanks.
PS. Following is what the NCUA exam manual says. This is vague...does it imply that bait money is required? Has anyone had this conversation with an examiner or insurance carrier.
The NCUA examination manual states an examiner may review:
- Log of bait money, including denominations and serial numbers, assigned to each teller
https://publishedguides.ncua.gov/examiner/Content/ExaminersGuide/Credit%...
