Looking for best practices in regards to safe deposit boxes. Do you rotate locks when customers close out safe deposit boxes and return both keys?

Why would you rotate locks in this instance, I assume the customer has signed a release and the box has been inspected by a bank employee. The potential rotation may depend on the number of boxes available for customer use.

It is not an unusual practice as the Bank wants to eliminate the risk of the customer making a duplicate key before returning the two the Bank issued.

We do rotate the locks. Locksmith comes on a regular basis to drill boxes and rotate locks. If a customer claims that something is missing from their box, that's just one less thing they can claim as a possibility.

We rotate on every box that is returned with 1 key and randomly on everything else.

We rotate the locks on every box no matter how many keys they return.

If a system was designed to facilitate changing locks; i.e. it is easily done by a bank employee, it was intended that the locks be changed every time a box is surrendered. Failing to do so would actually make your bank look sloppy in the event of a mysterious disappearance.

If the mechanisms require the services of a locksmith to change them, then rotating locks with every surrendered box is generally thought to be cost prohibitive as long as both keys were returned.

My institution also rotates locks. There is the mindset that a copy of a key could be made, so we'd rather be safe than sorry. Fortunately, our lock can easily be changed by bank employees. We've also changed our policy that if both keys are not returned, we cannot close the box until we've been paid for 1 missing key, or paid for the drilling of the box if both keys are missing.