Allowing Safe Deposit Box Access During a Pandemic Branch Closing

Financial institutions are dealing with unprecedented and uncertain times and are now trying to assist all of their current safe deposit box renters. Consumers are asking many questions about box access and my nationwide clients are now requesting assistance and support to comply with these unique branch closing requirements.

Did you inherit this safe deposit responsibility and are now wondering what procedures must exist? Historically, this responsibility has been routinely passed from employee to employee with very little attention given to procedures and documentation. Unfortunately only after a nationwide COVID-19 pandemic disaster occurs does management turn its attention to this area.

Whether you have 50 boxes or 5,000, this presentation provides a realistic and well-organized method of reviewing your procedures and providing safe deposit box access when your branch is closed. Your speaker knows first hand what to look for; from the most common errors to the not so common, but potentially costly mistakes. This presentation will help you review and establish your own internal vault access procedures.

What You Will Learn

  • Should renters sign a release of liability affidavit before box access is permitted?
  • Does your lease agreement contain a correct emergency vault closing clause?
  • Is regulatory approval required if branch access is permitted to enter a box?
  • What thirty (30) important items could a renter want to remove from a box?
  • What type of box renter notification should be provided to your renters?
  • What liability might occur if safe deposit box access is not permitted?
  • What health concerns must we address when granting box access?
  • What notice should be posted on your branch lobby entry door?

Who Should Attend?

This informative program will benefit branch managers, security officers, safe deposit supervisors, vault attendants, compliance officers, auditors and your in-house legal counsel.