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Title 31, Money and FinanceRelease 119-110

§5325 Identification Required to Purchase Certain Monetary Instruments

Title 31 › SUBTITLE IV — MONEY › CHAPTER 53 — MONETARY TRANSACTIONS › SUBCHAPTER II — RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS › § 5325

Last updated Sep 22, 2026|Official source

Summary

Financial institutions cannot sell a bank check, cashier’s check, traveler's check, or money order when the transaction uses U.S. cash (or other instruments the Secretary allows) of $3,000 or more, unless the customer either has a transaction account the institution verifies from its records, or shows ID required by Treasury rules that the institution verifies and records. The institution must give that recorded information to the Secretary of the Treasury if asked. "Transaction account" is defined in section 19(b)(1)(C) of the Federal Reserve Act.

Full Legal Text

Title 31, §5325

Money and Finance, Source: USLM XML via OLRC

(a)In General.—
No financial institution may issue or sell a bank check, cashier’s check, traveler’s check, or money order to any individual in connection with a transaction or group of such contemporaneous transactions which involves United States coins or currency (or such other monetary instruments as the Secretary may prescribe) in amounts or denominations of $3,000 or more unless—
(1)the individual has a transaction account with such financial institution and the financial institution—
(A)verifies that fact through a signature card or other information maintained by such institution in connection with the account of such individual; and
(B)records the method of verification in accordance with regulations which the Secretary of the Treasury shall prescribe; or
(2)the individual furnishes the financial institution with such forms of identification as the Secretary of the Treasury may require in regulations which the Secretary shall prescribe and the financial institution verifies and records such information in accordance with regulations which such Secretary shall prescribe.
(b)Report to Secretary Upon Request.—
Any information required to be recorded by any financial institution under paragraph (1) or (2) of subsection (a) shall be reported by such institution to the Secretary of the Treasury at the request of such Secretary.
(c)Transaction Account Defined.—
For purposes of this section, the term “transaction account” has the meaning given to such term in section 19(b)(1)(C) of the Federal Reserve Act.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 19(b)(1)(C) of the Federal Reserve Act, referred to in subsec. (c), is classified to section 461(b)(1)(C) of Title 12, Banks and Banking.

Reference

Citations & Metadata

Citation

31 U.S.C. § 5325

Title 31, Money and Finance

Last Updated

Sep 22, 2026

Release point: 119-110