Skip to content

Safe Deposit Boxes Are Not FDIC Insured

Answered by: 

In a safe deposit box webinar, an answer regarding disclosures for safe deposit renters indicated that there were five states that have safe deposit regulations requiring written disclosure that insurance is not provided by the financial institution or FDIC. Where can I find model wording for this type of disclosure?

One example is wording required by the Massachusetts Division of Banks and Loan Agencies regulations governing the rental of safe deposit boxes by banks. The following must appear in or be attached to every safe deposit rental agreement, and be part of every rental bill:

"The Lessor does not provide insurance coverage for the contents of your safe deposit box. You, the Lessee, may at your expense, secure your own insurance."

First published on 12/05/05

First published on 12/05/2005

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics