Top 50 Most Important Safe Deposit Operating Procedures

The safe deposit operation is a unique, fast-changing service in the financial industry. It is the only product or service in which members of your staff do not 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. This webinar covers the “nuts and bolts” and the recommended day-to-day operating procedures for your institution.

David McGuinn, a nationally recognized expert in the safe deposit area, will provide clear, concise answers to all the basic or complicated questions regarding your institution’s responsibility, liability and daily operating procedures. In addition, you will receive information about many current safe deposit lawsuits and other nationwide horror stories.

Covered Topics:

Answer: (Y) YES (N) NO (NS) NOT SURE to review your internal procedures.


_____ Can box keys be duplicated using silly putty and epoxy glue?

_____ Will your part-time attendant make a good courtroom witness?

_____ Are there at least ten items included in your new box renter's kit?

_____ Are you aware that having box numbers on keys will create liability?

_____ Are you following the ten necessary steps when granting box access?

_____ Can FDIC/NCUA signs, logos or brochures create safe deposit liability?

_____ Are you completing the required Beneficial Ownership of Legal Entity Form?

_____ Are you providing a "No Insurance Disclosure Notice" to all new box renters? 

_____ Can you purchase locksmith tools on EBAY that will open boxes in seconds?

_____ Do you know why you will lose a lawsuit if you leave anyone in your vault alone?

_____ 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?

How did you do on the test? 

This presentation addresses these issues and much more!

Who Should Attend?

This informative program will benefit your (current or new) full and part time vault attendant, safe deposit supervisor, compliance officer and internal auditor.