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#2208030 - 03/06/19 10:24 PM Safe Deposit box privacy
Anonymous
Unregistered

Can anyone tell me if providing a private room to review the contents of a customers safe deposit box is a best practice or a law?

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#2208032 - 03/06/19 10:34 PM Re: Safe Deposit box privacy Anonymous
osucpa Offline
Diamond Poster
Joined: May 2011
Posts: 1,402
Unless it is a state issue, I say best practice.

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#2208042 - 03/06/19 11:32 PM Re: Safe Deposit box privacy Anonymous
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,423
Florida
The contents should be confidential. How could you prevent others, including bank employees from knowing the contents if it were in an open area. Additionally, if something were missing, there could be a claim that it could have been taken in an inside job, because employees saw or heard us discussing the contents, including that valuable ring If a financial institution did not have a room where I could confidentiality review the contents, there would be NO lease.
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#2208049 - 03/07/19 05:16 AM Re: Safe Deposit box privacy Anonymous
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,068
Toano, VA
Read your box agreement--you may have imposed this obligation on yourself. Also think about your blanket bond...are you expected to take commercially reasonable precautions to prevent what Rocky describes? Safe deposit services could possibly expose a bank to unlimited liability if you aren't careful.
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#2209087 - 03/20/19 03:01 PM Re: Safe Deposit box privacy Anonymous
Anonymous
Unregistered

This may be a moot point, but does the "viewing room" need to be within a specified space from the vault itself?

I am currently working at a branch where the vault is on one side of the branch, and the VR is on the other. I've always thought it strange (and I dare say a security risk) to have customers lugging their belongings (and for the sake of the argument, cash and valuables) clear across the lobby and back.

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#2209109 - 03/20/19 05:25 PM Re: Safe Deposit box privacy Anonymous
BrianC Online
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,321
Illinois
Any such requirements would be governed by state law.
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