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#113786 - 09/10/03 08:50 PM Safe Deposit Box Customers
pgrimes Offline
Joined: Jun 2002
Posts: 64
Glenview, IL
There seems to be a trend in our area (Midwest) to NOT open Safe Deposit boxes for customers who have no other relationship with the bank. With CIP I tend to want to jump on that bandwagon but Senior Mgt doesn't.
If you are from a bank that doesn't open boxes for non-customers will you let me know and also why your bank made that decision??

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#113787 - 09/10/03 09:34 PM Re: Safe Deposit Box Customers
Jello Offline
100 Club
Joined: Feb 2003
Posts: 162
We decided not to open boxed for non-customers, but mainly because we have a limited supply of boxes and we were having to turn customers away because we didn't have the sizes they wanted available.
My opinions are not that of my employer and are not legal advice, they really have no value at all.

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#113788 - 09/10/03 09:34 PM Re: Safe Deposit Box Customers
Lestie G Offline

Power Poster
Joined: May 2002
Posts: 3,607
Near the Land of Enchantment
We do not. It's difficult to collect rents due if the box holder doesn't bank with you. If they have other accounts with us, we can be sure that we know them (in the Know Your Customer manner). Also, in some areas boxes are scarce - this ensures that our customers get first opportunity to rent a box.
Opinions my own.

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#113789 - 09/11/03 08:19 PM Re: Safe Deposit Box Customers
AMXSteve Offline
Joined: Jun 2001
Posts: 75
Wilmington, OH, USA
We have offices in the mid-west (Ohio) and we don't rent boxes to non-customers. Part of the reason has to do with government control lists. Our SDB software is a stand alone piece and we don't have the ability to scan it with our control list software. If the customer has an account, he/she is on our processing system that is scanned with our control list software. We have several thousand boxes throughout the company - way too many to check manually against applicable government lists.

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#113790 - 09/12/03 01:17 PM Safe Deposit Box Customers
elcinoca Offline
Platinum Poster
Joined: Jan 2002
Posts: 537
Elizabeth City, NC
We do not....and for exactly the same reasons noted above: limited quantity (our customers are on a waiting list!); KYC; security concerns, etc.


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