Retention of Records

February 26, 2018

Retention of Records

Retention of Western Union ® transaction records

You must keep records of all Western Union Money Transfer ® transactions handled by your Agent location.  File all transaction records in chronological order by date of origination each month in a secure file that won’t be tampered with.

  • You must keep records for all domestic send and receive transactions for six (6) months, and then destroy files by shredding.  (As used herein “domestic” means transactions sent and paid within the U.S.).
  • You must keep all receipts for transactions sent to or received from international points, including Mexico and the U.S. indefinitely.  (As used herein “international” means transactions sent from or paid in a country other than the U.S.).
  • You must keep all records and reports required under the Bank Secrecy Act (BSA) for five (5) years.  This includes:
    • Suspicious Activity Reports (SARs)
    • Compliance Program Review forms