For a CD withdrawal, who may approve if the account officer is unavailable?

For a CD withdrawal, who may approve if the account officer is unavailable?

• A. The Branch Manager
• B. The BSA Officer
• C. The Teller
• D. The Customer

Answer: (B)

When the person who normally approves a CD withdrawal isn’t available, banks designate a different official who has the authority to sign off on the transaction. This keeps the withdrawal moving while maintaining proper controls. In this case, the designated approver is the BSA Officer. Their role centers on compliance and proper documentation, which helps verify the withdrawal is legitimate and aligns with anti-money-laundering rules before funds are released. The teller is not authorized to approve; the customer cannot approve their own withdrawal; and while another officer might sometimes fill in, the policy in this scenario assigns the responsibility to the BSA Officer to preserve compliance and record-keeping.

When the person who normally approves a CD withdrawal isn’t available, banks designate a different official who has the authority to sign off on the transaction. This keeps the withdrawal moving while maintaining proper controls.

In this case, the designated approver is the BSA Officer. Their role centers on compliance and proper documentation, which helps verify the withdrawal is legitimate and aligns with anti-money-laundering rules before funds are released. The teller is not authorized to approve; the customer cannot approve their own withdrawal; and while another officer might sometimes fill in, the policy in this scenario assigns the responsibility to the BSA Officer to preserve compliance and record-keeping.