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#114819 - 09/15/03 08:15 PM Safe Deposit Boxes
jbest Offline
100 Club
jbest
Joined: Jan 2001
Posts: 134
We have a customer who lives in Colorado and has mailed her safe deposit box keys and requested by a note to have the box closed, do we have the Internal Control Officer and a representative audit the box and follow up with the customer with a letter stating the status of the box? What procedures are other banks doing in this type of circumstance? Does this happen with other banks?

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Operations Compliance
#114820 - 09/15/03 08:51 PM Re: Safe Deposit Boxes
Al Miller Offline
Diamond Poster
Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
Yes, this has happened. I would presume that (reading between the lines) the customer is claiming that the box is empty. Confirm (and document) that fact in dual-control, and, if so, close it out.

In the unlikely event there are contents, they would have to be inventoried and the customer notified.
_________________________
Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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