From a BANKERS' HOTLINE subscriber ... It has been suggested by management that we install time delay locks on all our cash vaults, so that if we have an attempted robbery during banking hours, the robbers wouldn't be able to get at the vault funds for 15 minutes because of the timer. Some of us have a problem with the idea, because we think it would be dangerous for customers and employees. Is anyone using these. And what have your experiences with them been?

I've found there are many financial institutions now going to the time delay locks - especially on cash vaults behind the teller's areas. It's a form of response to frustration of losses, I think.

In almost every time delay lock branch I've seen, there are large, obvious signs that can't be missed informing the public of the locks. Sometimes with a "Please be patient if you need extra cash - our vaults all have time delay locks" type of message. The people who swear by them say they've not been robbed since they installed them, along with the signs. They say it actually does discourage robbery.

I've posted your question on Bankers Threads on our web page. Maybe we'll hear something different from other bankers.

On this same premise, when I was going to school I worked at 7-11. Extra cash was put into tubes and loaded in a safe. We could push a button to get money back out, but only something like one tube each 3 to 5 minutes.

It is a deterent because the bad guy wants to get in and out. He can't do that in this case so maybe he'll just not rob that night, or will go to a competitor and request his cash there. Adequate signage is a must but should be sufficient to safeguard your employees.

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Andy Zavoina
Opinions stated are not necessarily that of my employer.

We use time delay locks at most of our branches but without the signs. About six years ago one of these branches was robbed. The person left the building with significantly less than he could have.

I think they're worth the extra effort.

One solution I've seen used effectively is to keep one vault locker with a regular lock for your working supply of cash (about 1/2 day's worth.) The rest can be stored under time delay and accessed only when needed to resupply the working cash vault.

Folks:

I like JacFSB's answer the best. The money's important -- employee and customer safety is critical, however.

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Dana Turner
Security Education Systems
danaturner@bankersonline.com
830-535-6500
Opinions expressed are always those of my employer.

We have also benefited from time delay locks during robberies. Another option which allows quick access to sudden cash needs is to utilize a safe deposit box. I recommend resecuring cash into the vault each night.

Like JacFSB, in a previous life, we maintained the bulk and hi-value bills in the time-lock vault with smaller amounts kept in the "day-vault." Have not had any problems with this from a business use and allowed a robber to "think" they got a lot of money, when it was actually a bunch of singles and fivers....

In every bank I have worked for we used the time delays. The working supply was kept to a minimum. This also helps in your dual control / sole control measures. Your time delay can be kept under dual control and your working supply can be kept under sole control. This helps when you transfer your vaults.

You can also implement a timer on the teller stations if you are going to permit them to maintain more than a "normal" teller working supply. this would be used for making change for businesses, etc.

I think to safeguard the employees the most important thing is training. You can never train them too much. Don't allow them to take it lightly. It may save their life sometime. Prepare them so if it happens, they won't melt. It will be automatic.

Opinions are mine not my employer.

Are time delay locks required under the BPA?

No -