Changing Safe Deposit Area Hours: Notice Requirements?

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Changing Safe Deposit Area Hours: Notice Requirements??
by John Burnett, BOL Guru
BIO AND CONTACT INFO

Question: Our bank is considering extending the hours for our Safe Deposit area. Must we notify all our renters, or is a sign sufficient for communicating the change? (Having been to a few of Dave McGuinn's seminars, my bank is sufficiently paranoid about Safe Deposit Box issues!)

Answer: If you are extending the hours, I see no requirement to notify anyone (except, perhaps, your insurance carrier). Any notice would be a marketing piece, advertising your increased availability. If you were cutting back on hours, you would want to notify lessees and post a notice.

First published on BankersOnline.com 8/05/02

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