Discuss Terms of Rental Agreement

Associates must advise the client of the following information and restrictions:

• Ammunition, explosives, and perishable goods are not permitted in safe deposit boxes.
  • Firearms without ammunition are permitted
• SDB access is only available during regular lobby hours of operation of the office where the box is located.
• CCB exercises great care with the boxes in the safe deposit vault area. 
• CCB does not guarantee the total and complete security of the contents and does not guarantee climate control.
• Safe deposit boxes are fire-resistant and flood-resistant. Do not portray the vault as fireproof or flood-proof.
• The contents of the SDB are not insured by the Federal Deposit Insurance Corporation(FDIC) or the bank.
  • Advise the client to contact their private insurance agent to obtain insurance for the contents stored in their SDB.
• The first year's annual rent and key deposit are due at the time of rental.
  • Going forward, if the rent is past due, a late fee will be assessed and access to the box will be denied until the rent and fees are paid.
• Clients are not permitted to inform the bank of the contents of their SDB

Rates, Other Services, and Fees

Refer to the Other Services and Fees brochure to explain the other fees associated with renting a safe deposit box (for example: drilling charges when keys are lost or the rent is not paid).

• Each office has established prices for its boxes
• SDB is rented for a period of 1 year
• New SDB rent is paid in advance, with a key deposit, for the first year
• Clients are billed annually for rental payments
• Clients will be charged a late fee for late rental payments
• If the rent is past due, access to the box will be denied until the rent is paid

Box Selection, Rental Rates, and Fees

Associates should NOT know what a client has in their safe deposit box. Help the client choose the correct box size and location to ensure you are meeting the client’s needs.

Annual Fees

To view the fee schedule for safe deposit boxes at your office location, do the following:

1. In Xperience > Streamline Platform Menu > Create a New Account.
2. Enter your Branch Number.
3. In the Application field, choose B for safe deposit box.
4. Click the ellipsis to view current rates for various box sizes.

Location

• Ensure the box location is appropriate for the particular client (for example: is the client tall, short, elderly, disabled)

For Joint Signers Not Present at Box Opening

If the joint renters are not present when the box is opened, the client may take the contract and the Acknowledgement Certificate Safe Deposit Box to the other client(s) for execution. To produce the contract, do the following:

1. Produce the first set of contracts with the names of renters present in the office.
2. Review the following areas of the contract for accuracy before obtaining the clients' signature:
   • Box number
   • Box location
   • Original open date
   • Annual rent and key deposit
   • # of signatures required for entry (1 for client box, 2 for CCB box)
   • Type of account
3. If any information is incorrect, revise the contract and reprint. 
   • Note: Safe deposit box contracts will not be accepted with any handwritten information or contingency language added by a client.
4. Obtain the signatures of the client(s) present in the office on all 3 copies of the contract. (Note: For clients unable to sign their full name, see Signature by Mark.) 
   1. Keep 1 of the signed contracts in the client file.
   2. Give 1 copy to the client(s).
   3. Place 1 copy with the daily work for imaging.
5. Upload the safe deposit box to the core system.
6. Recall the box and add the signer(s) not present to the contract. The existing renters must sign all 3 of the revised contracts.
7. Review the contract again for accuracy, and make any changes necessary. 
8.  Obtain the signature(s) of the client(s) present in the office on the revised contracts. 
9. Provide the clients with the following items to have signed by the additional renters and notarized.
   • All 3 copies of the revised contracts signed by existing renters in the office.
   • A copy of the Acknowledgement Certificate Safe Deposit Box form for each additional signer being added.
   •  Do NOT allow the Access Card to leave the bank.
10. The clients must return two copies of the revised contract before the box is uploaded and active for added renters. 
    • They may keep the third copy for their own records.
11. Do not upload a revised signature card until until received with the joint signer's signature and required documentation.
12. When 2 copies of the contract are returned
    1. Verify the additional renters' signatures have been notarized and the Acknowledgement Certificate Safe Deposit Box form(s) has been notarized.
    2. Return 1 copy to the client file. 
       • Staple new lease contract on top of old lease contract(s).
    3. Scan 1 copy for imaging (front and back). 
13. If all documents have been signed using an eSign upload account, submit them using eSign.
14. Place any documents not submitted through eSign with the daily work for imaging following the Document Imaging Procedures.
    • Note: For ALL new box rentals, image the front and back pf a complete and signed SDB lease contract and client access card before placing it in the client's SDB file folder.

First Year's Rent and Key Deposit

A safe deposit box key deposits of $25 is required on all new box rentals. Payment for the first year’s rent and key deposit are collected when a new box is rented. Clients are billed each year on the anniversary month of the box rental. A Personal Banker, Cross Trained Associate, Private Banker or Client Experience Manager (CXM) can request one of the following safe deposit box discounts:

• Associate Box Discount of $20.00 limited to one box – Code EM
• CCB Dual Control Safe Box Discount of 100% – Code BU
• Private Client Discount of $25.00 limited to one box - Code PC

All other safe deposit box discounts, including discounted or waived key deposits, must be approved by the President, Executive Vice President, or Community Executive.

Click here for more information on Safe Deposit Box Discounts.

To view the free schedule for safe deposit boxes at your office location, do the following:

1. In Xperience > Streamline Platform Menu > Create a New Account.
2. Enter your Branch Number.
3. In the Application field, choose B for safe deposit box.
4. Click the ellipsis  to view current rates for various box sizes.

The first payment will be credited to the SDB Settlement General Ledger (GL) account number 340 170425 6315 000. Complete a blank GL ticket with the following information:

• In the Account Name field, write Safe Deposit Box
• Client Name
• Box Number
• Annual rent amount
• Key deposit amount
• Client signature

Note: Do not process the first payment using an SDB rental payment ticket. This will cause posting and billing issues for future rental payments. 

Process the GL credit ticket with the client cash, check, or debit memo through the GL Transaction in Teller Capture.

Client Access Requirement on Day of Rental

When opening a new SDB for a client, ensure that the client has enough time to complete the account opening process and access the newly rented box on the day of rental. 

Note: If the client is unable to complete the full process, do not rent the box at this time. Schedule an appointment for the client to return at a later date that is convenient for them to complete the entire process.

After completing the new account opening process in Xperience, do the following:

1. Complete a client access card to be placed in the client's safe deposit box file folder. Access cards must remain in the bank at all time.
2. In the Renter field, legibly print the name of the renter(s). The client does not sign this field.
3. In the Number of Signatures Required field enter the following:
   1. For client boxes, enter 1. Only 1 signature is required for clients.
   2. For CCB boxes, enter 2. Two signatures are required for box entry by any 2 bank associates.
4. Enter the following on the access card:
   1. Date
   2. Time of entry
   3. Associate initials
   4. Client Signature
   5. Client identification number
5. Escort the client to the safe deposit box area.
   • NOTE: 2 authorized associates are always required to complete the entire process of obtaining keys, testing keys to ensure they work properly, and examining the box to make sure it is empty and in good condition prior to providing keys to a new renter.
6. Complete the Entrance Log. 
7. Locate the SDB with the client again to verify the location and size are sufficient for their needs.
8. Instruct the client to insert their key to open the individual box door.
   • The client's keys must remain in the client's possession at all times 
9. Insert the guard key into the box door.
   • The box will open when the guard and client keys are turned.
10. Verify with the client that both keys work correctly for box access.
11. Open the box to verify there are no contents left from the previous renter.
12. If the client would like to place items into the box, escort them to a privacy booth.
13. Inform the client that admission hours to the SDB are limited to the lobby hours of operation for the office where the box is located.

Note: The client's key must never be kept by a bank associate while the client is in the privacy booth and the key must never be left in the lock on the box door. The authorized associate should only take possession of the client's key when assisting a client with a physical impairment or elderly client who requires assistance. Such assistance must be provided under dual control.

Client Safe Deposit Box File Folder

Create the client safe deposit box file folder when the new box is opened. For all new box rentals, image the front and back of a complete and signed SDB lease contract and client access card before placing it in the client's SDB file folder.

All contracts and access cards must be accurately maintained in the client file. The file should contain a complete history of the box rental. All client safe deposit box file folders are to be kept in one location and filed alphabetically by the client’s last name or business name. If more than one client is listed on a contract, file by the last name of the primary client.

All contents of the SDB box file, including identification and verification information, must be kept for 6 years after the date the box is closed. 

The client SDB file folder contains the following:

• All executed lease contracts (new/revised)
• All client access cards
• Legal documents, when applicable
• Any other documents or correspondence, when applicable

SDB files must be stored in the vault or in a locked, fire-resistant cabinet at the close of business. These records may be maintained behind the teller line during business hours of operation or in a locked cabinet in the safe deposit area.

Address Change

An address change may be processed on a safe deposit box for which the client is an authorized renter. In addition, the address may be changed on the Client Information File (CIF) for any client who is listed as a joint renter on the box, unless the Personal Banker (PB) is instructed otherwise (for example: a family member who is a joint renter on a box, but who lives at a separate address). Refer to Address Changes for complete procedures.

Name Change

Name changes may be requested when the client provides proper legal documentation such as a marriage certificate or court order. Primary Identification must also reflect the name change. The client must execute a revised Safe Deposit Box Lease Contract. The contract must be signed by all renters.

1. Obtain and record valid identification to verify the client(s) is an authorized renter(s) of the box. Refer to Identification Verification Procedures.
2. Review the legal documentation provided for the name change. Marriage certificates, divorce papers, or court orders are acceptable. Primary Identification must also reflect the name change.
   1. Make a copy to keep in file.
3. Click Xperience > SilverLake > CIF Menu > Change Customer Information.
4. On the Customer Master, Maintenance page enter the client name (last name, first name), SSN, or CIF.
5. Click Show.
6. According to the legal documentation provided, update the client's name in the Customer Name field. 
7. Click OK.
8. If necessary, update the address on the Customer Master, Maintenance page in the IRS Address field. 
9. Click OK.
10. On the Customer Identification Maintenance page, click DL Identification Code.
11. Click Change.  
12. Update the driver's license information as required. 
13. Click OK.
14. When you return to the Customer Identification Maintenance page, click OK.
15. Review the fields on each page and update the information accordingly.
16. Update client's short name. 
    1. Click Xperience > SilverLake > CIF Menu > Change Customer Name. 
    2. Enter the Customer Number. Note: This is the CIF number.
    3. Click OK. The client's existing information is shown on the left.
    4. Enter the client's new name on the right under the Change To field. 
    5. Click OK.
    6. If the correct information is displayed, click Override.
17. Pull the clients SDB File.
    1. Click Xperience > SilverLake > StreamLine Platform Menu > Recall Existing Accounts from Core.
    2. On the Inquiry/Website Selection screen, click OK.
18. Complete a revised Safe Deposit Box Lease Contract. Click here for information on locating the original key deposit amount for the revised contract.
    1. Click Other. 
    2. Enter Name Change as the revision reason.
    3. Verify the key deposit amount is correct.
       1. If the client did not pay a key deposit, delete the amount from the key deposit field on the screen. 
       2. If the client paid an amount other than what prints on the contract, change the amount to reflect their original deposit. 
19. The revision reason and revised date will print on the safe deposit box contract.
20. Verify the information on the revised lease before the client(s) signs the documents.
21. Obtain all client signatures on the safe deposit box contracts.
22. Provide a copy of the revised lease to the client(s).
23. Create new Access Card with client's New Name and other renters, if applicable.
    1. In the top right corner of the new Access Card write Revised with the current date.
    2. Staple new Access Card on top of old access cards.
24. Place a signed copy of the lease and a copy of the original legal documentation in the client’s file in the safe deposit storage cabinet.
25. Place the documents not submitted through eSign with the daily work for imaging following the Document Imaging Procedures.

Other Maintenance

A client may request other types of maintenance to their current Safe Deposit Box contract.

To perform other maintenance to a safe deposit box, do the following:

1. Obtain and record valid identification to verify the client(s) is an authorized renter(s) of the box. Refer to Identification Verification Procedures.
2. Click Xperience > SilverLake > Recall Existing Account from Core.
3. Click Other for the reason for revision.
   1. In the reason for revision field, enter details regarding the maintenance. The field is limited to 25 characters including spaces.
4. Complete a revised Safe Deposit Box Lease Contract.
5.  Verify the information on the revised lease before the client(s) signs the documents.
   • Click here for information on locating the original key deposit amount for the revised contract.
6. Print the contract and verify the information.
7. Have the client sign all 3 copies.
   • All renters must sign the revised safe deposit box contracts.
8. Provide the client with a copy of the revised safe deposit box contract.
9. Place a copy of the contract and revised access card, along with all accompanying documentation, with the daily work for imaging.