3 4 CHAIRMAN: Good morning, Mr. Murphy. 5 - The Tribunal of ...

8014:20:361 Somebody approaches the counter with Sterling, whether in cash or cheque, we2 needn't worry for the moment. They indicate that they want both to exchange it3 to Irish Pounds and to lodge those Irish Pounds to an account. Am I correct in4 understanding that, firstly, you need two machines to do this work. You need14:21:015 the FX machine and you need the actual teller's machine, isn't that correct?6 A. Correct.7 Q. 510 And as I understand it, the FX machine is used purely to ascertain the rate8 which you would apply to the transaction, isn't that right?9 A. Yes.14:21:0910 Q. 511 So the first thing you do is you consult that machine and you are told just to11 pick an example, hypothetical example if somebody had 5,000 pounds Sterling it12 would tell you how much you would pay for that 5,000 pounds Sterling, is that13 correct?14 A. Correct.14:21:2315 Q. 512 And it would tell you that in terms of the rate and commission, is that16 correct?17 A. Yeah.18 Q. 513 Am I correct in understanding though, that the actual transaction, the exchange19 of currencies takes place on the teller machine as opposed to on the FX14:21:4220 machine?21 A. Yes.22 Q. 514 So now you walk back to the teller machine and you are facing your customer.23 Am I correct in understanding that at this point you do two things physically.24 You make out the handwritten content of the foreign exchange transaction and14:22:0225 you make out the handwritten content of the lodgement to the account, is that26 correct?27 A. Correct.28 Q. 515 And once that has been done, am I correct in understanding that each of those29 pieces of paper needs to be entered up in some way on the teller machine?14:22:2330 A. Correct.Premier Captioning & Realtime Limitedwww.pcr.ie Day 839