About This Course:
The safe deposit operation is a unique, fast-changing service in the financial industry. It's the only product or service in which members of your staff don't know the value of a consumer's assets.
As a result, every vault transaction can lead to considerable liability. Effective procedures and sound daily practices can counteract and minimize this risk. Learn the "nuts and bolts" and recommended day-to-day operating procedures for your institution.
Test Your Procedures
Answer: (Y) YES (N) NO (NS) NOT SURE
_____ Can box keys be duplicated using silly putty and epoxy glue?
_____ Will your part-time attendant make a good courtroom witness?
_____ Do you follow the ten necessary steps when granting box access?
_____ Do you have at least ten items included in your new box renter's kit?
_____ Can FDIC/NCUA signs, logos or brochures create safe deposit liability?
_____ Can you purchase locksmith tools on EBAY that can open boxes in seconds?
_____ Are you providing a "No Insurance Disclosure Notice" to all new box renters?
_____ Do you require five types of identification from every signer on a new box contract?
_____ Are you aware of your liability if box access is allowed "before or after" lobby hours?
_____ Do you know why you will lose a lawsuit if you are leaving anyone in your vault alone?
How did you do on the test? This presentation addresses these issues and much more.