Per the Terms and Conditions of the Safe Deposit Box (SDB) lease contract, if the client ends the SDB lease, CCB will not pro-rate or refund rent. Clients who relocate their SDB from one office to another office must close the box at the existing office and open a new box at the new office location.

To close a SDB, do the following:

1. Identify the client. Refer to Identification Verification Procedures.
2. Make sure the client has the authority to close the box (for example: rent is not past due, there is no legal action pending, client is authorized renter).
3. If the rent is past due and the client wants to close the box, the client MUST pay the rent due prior to accessing and closing the box. Refer to Working the Past Due Report article. 
4. The client must access the SDB following the standard procedures and remove all contents from the box.
   • See Accessing Safe Deposit Boxes for procedures.
5. When the client is finished removing contents from their box in a privacy booth, the authorized associate will verify, in the presence of the client, that the box is empty and all contents have been removed.
6. The authorized associate must test ALL keys returned by the client, in the presence of the client, to ensure that the keys correspond to the closed box. The client must pay the fees detailed in the Other Services & Fees insert for any missing keys.
   • Note: Key deposits are not refunded unless 2 keys are returned.
7. To refund the key deposit, complete a General Ledger (GL) debit to the SDB Rent Income account XXX 460360 6315 000 for the amount of the key deposit.
8. Include the office number, box number, and client name on the GL ticket.
9. Offset the GL debit with a credit to the client’s checking or savings account.
10. Process the transaction in the teller work.
11. If more than two keys are returned, destroy the excess key(s) immediately under dual control.
12. Obtain the client’s signature and date on the Surrender of Safe Deposit Box section on the Safe Deposit Lease Contract, page 2.
13. The authorized associate will indicate the box number, the number of keys returned, record the renter’s identification type and number, sign, and date the Safe Deposit Lease Contract, page 2.
14. Place the keys in the Safe Deposit Key Drop Box.
    • Note: Key control is critical and keys must be in the CCB Dual Control Safe Box or Safe Deposit Key Drop Box if not in a client’s possession. Note: Keys are not to sit unsecure for any period of time.
15. Complete the Vault Entrance Log:
    1. In the SDB Closing # Keys Returned column, enter the number of keys returned.
    2. In the Comment section, enter a note that the box is closed and record the closed box number.
16. Create a Deposit Services Safe Deposit General Maintenance Synapsys service event to request one of the following box status changes:
    • If the client returned 1 or no keys - N – Not Available - Missing Key(s)
    • If client returned 2 keys - U - Unoccupied
    • See Safe Deposit Box Status Maintenance 
17. Complete a Closed Safe Deposit Box Cover Sheet .
18. Scan the Closed Safe Deposit Box Cover Sheet and all documents contained in the client file and place with the daily work for imaging. 
    • For example: Original lease contract with closed lease signatures, access card, and all supporting documents.
    • Note: When scanning documents with two sides, be sure to copy both sides, even if blank. Verify copies of the access card are legible.