Safe deposit box access in the vault
Question: Our safe deposit boxes are, as in most banks I assume, located in vaults. During normal bank hours, the main vault door is open with the exception of a day-gate, which is kept locked. When a customer requests access to their box, one of the tellers retrieves the key to the day-gate and the master safe deposit box key and assists the customer in retrieving their box.
The current procedure at one of our branches encourages our tellers to escort the customer with their box out of the vault back into the lobby for a short walk to a small office where they can examine their contents.
It has been proposed that our customers, many of whom express a desire to conduct their business in the vault, remain in the vault with their valuables behind the closed and locked day-gate. This would provide the customer a secure space to conduct their business and eliminate the risk of entering a public area with their box.
Can you give us some thoughts on this?
Answer: Editor's Note - This question is becoming more common as administrations become more "jealous" with non-income producing use of space. Some financial institutions have even gone so far as to provide a shelf or table in the vault for the use of their safe deposit renters. However, our safe deposit expert has some harsh thoughts about this. Here is the answer received from Dave McGuinn, our safe deposit expert:
If your institution has a safe deposit disappearance claim, gets sued and then goes into a court room, one of the first questions you will be asked on the witness stand is; "Do you ever leave anyone in your safe deposit vault alone?"
If you must answer this question "YES," you will be excused from the witness stand immediately. The following expert witnesses for the prosecution will inform the jury about many locksmith tools, available to the general public, that can open safe deposit locks in as little as three seconds without a key.
And, if a day gate key is needed to exit the vault, you are also creating a fire hazard that could be very dangerous for the renter who is locked inside this vault. If your facility catches on fire, this renter is trapped.
Never leave anyone in the vault alone! This includes your safe deposit locksmith who provides services inside the vault.
Copyright © 2003 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 5, 7/22
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