As a result, it is essential that financial institutions comply with the published Deposit Quality Standards when shipping currency to the Federal Reserve Bank to ensure timely processing and credit notification. Both new and experienced employees, who prepare currency deposits for the Federal Reserve Bank, should reference the Deposit Quality Standards periodically to ensure your financial institution is following the proper procedures. Each strap should contain 100 notes. Paper clips, rubber bands and other miscellaneous items should not be attached to the notes or straps. Bundles contain less than 10 straps and are packaged improperly.
Oversized bags leave room for excessive movement of the currency deposit.
This may cause bundles and straps within the bag to break before reaching their destination. Below are examples of good currency deposits which streamline the reconciliation process and ensure timely credit notification for financial institutions. These currency deposits contain 10 straps properly bundled. Each strap contains 100 notes and the financial institution identification and routing number. This bag is properly sealed, secured and includes a shipping tag.