Conducting Services During a Disaster

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Question:

During a disaster, if a bank is out of service, how would cash management services be conducted?

Answer:

Resumption of service for cash management services should be one of the goals of a bank's Business Continuity Plan (BCP, often referred to as a Disaster Recovery Plan or DRP). Bank services get listed and prioritized, and management of the bank determines which services will be reinstated and how. Your bank's BCP should provide for a backup or contingency plan to provide cash management services through a third party or backup site.

First published on BankersOnline.com 10/11/10