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Night Drop Deposit Procedures

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Question: 
What is general procedure when opening and completing deposits in the night drop?
Answer: 

Night depositories should be opened in dual control. Each deposit bag, envelope or other container should be opened and its contents recorded. The record should be signed or initialed by the two people who processed the deposits. After that step is completed, the deposits can be turned over to one person to be processed. Processing night deposits without dual control can open the person and the institution to allegations of internal fraud.

First published on BankersOnline.com 3/26/07

First published on 03/26/2007

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