Physical Requirements for Vaults
Question: We just bought a branch that has wallboard around the room where our safe deposit boxes are located. Where can I find the requirements for wall thickness, and weight, etc. on vaults?
Answer: Nowhere, any more. There used to be requirements as to size, weight, etc. of vaults, but when the new Bank Protection Act came into being, they were all eliminated. They were not really of any value, as there is no 'one-size-fits-all' when it comes to branch size, location, etc. Standard of the industry prevails now. You'd do well to check with one of the companies that supply vaults and get their recommendations. Try a search engine under 'bank vaults' - I found about 30 sources. (Editor's Note: wall board??!!)
Copyright © 2003 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 9, 12/03
First published on 12/01/2003