What do other banks do regarding their Safe Deposit Box Contracts? Do you keep the contract and entrance card at the branch or do you store the contracts at say for ex. offsite Operations Department? What do you do when the customer comes in to close the box if they are stored off site? I need some help or guidance examples. Thanks!!

If they are kept off-site, how can you compare signatures, ID's, etc. of the people trying to access the boxes? We have a software program for contracts, etc. but we still pull contracts to compare signatures of the people who are accessing the boxes. In our state (TX) we have the customers sign the contract to close the account, so it is just not feasable for us to have the contracts anywhere but in the branch.

I've worked in 4 banks over the last 20 year and each of them stored the contracts at the branch.

I search over the last 8 years and could not find this...but this thread seemed the most likely to ask this question in:

How are you storing the contracts? Is anyone scanning them?

We had them in "filing type" cabinets.

Then they put them in binders.

But I'm worried the binders will grow legs.

Can I just take a quick survey? How are you storing your contracts?

We have a contracts program which was instituted at the Bank level allows for a decentralized process. Our business units are accountable to ensure signed contracts are retained within their own departments.

Various divisions, (legal, compliance and others) are part of the review process, however, the ultimate signed contract stays with the department who owns the vender relationship.

Lori

Ours are imaged so they can be accessed to verify sigs, and then printed off to get sigs when box closes. This doc is then imaged also.

In all my experiance (20 yrs) the contract and access cards have been kept at the location of the SDB.

But how DD? In a cabinet? 3 ring binders?

Georgia Plum, can I ask who your core processor is?

There are a couple of companies that sell rolling carts for the signature cards, that way they can be rolled in to the vault over night for safe keeping...they can either be filed alpha or numeric.....

We keep contracts and access cards in a card file cabinet filed by box number. we also have an alphabetical file that references the box number for the customers who forget their box #. In those cases, we do verify ID

I could read that a couple of ways, and one of them concerns me. The mere possession of the key and knowledge of the box number don't, in my opinion, guarantee that the warm body with the key is the lessee of the box. In many banks, there are long-standing customers and veteran employees, and repeated ID checking isn't needed. But I hope that any staff member charged as "gatekeeper" to the boxes would be checking ID for any individual whom he or she doesn't know, whether or not the individual knows the box number.

Queen CL, our core processor is Fidelity.