Overview

The Client Experience Manager (CXM) and/or Lead Teller (LT) is responsible for ensuring monthly reports are reviewed and worked in a timely manner. Reports are available, no later than the 10th of each month at Operations drive: Lead Teller/Reporting/SupportU Reporting/SDB Reports. Associates who work the report must reach out to clients using phone, email, or mail in an effort to collect past due rent.

• Note: Renters must be denied access to the Safe Deposit Box until the rent is paid. Prior to drilling, all attempts to contact the client should be exhausted. 

See Drilling Safe Deposit Boxes for more information.

Procedures

Associates must make every effort to reach the client and obtain past due safe deposit box rent. Proactive client contact efforts including date, time, method of contact, and any additional notes are recorded on a physical copy of the report. Each office must retain the reports in a binder for review by the Internal Control Specialist.

If initial attempts to contact the client are unsuccessful, the client safe deposit box file and safe deposit box must be flagged immediately.

• Note: Renters must be denied access to the Safe Deposit Box until the rent is paid

To flag the client's file and box, do the following:

1. Complete the Vault Entrance Log with the following information:
   1. Date
   2. Time
   3. Comments section 
      • Box number
      • Client last name
2. Obtain the client file from the safe deposit storage cabinet.
3. Place a red past due tag on the file.
   • This tag notifies all associates that the box is past due. Entry is not allowed until past due payment is made
4. Flag the safe deposit box by placing a red plastic tab in both keyholes.

If the client is unable to be reached after multiple attempts, does not come into the office to transact business, access their box, and is nonresponsive to multiple messages, the client relationship must be reviewed for an active Demand Deposit Account (DDA) account with sufficient funds to cover the past due rent amount.

• Client with Active DDA Account

  If the client has an active DDA account with sufficient funds to cover the past due amount, process as follows:

  1. In Xperience, review the client's Safe Deposit Box record to determine the total amount due and the current billing method.
  2. Prepare a debit memo on the client’s DDA or Savings account for the rent on the box.
     • Complete the following information on the debit memo:
       • Date
       • Title of account - Client Name
       • Safe-deposit box rental payment amount due
       • Late Fee
       • Approved by - associate first initial and last name
       • Tran code - 50
       • Client account number
       • Total due
     • Debit Memo Example 

  3. Send the client a copy of the debit ticket.
  4. Prepare a Safe Deposit Rent Payment Credit ticket with the following:
     • Date
     • Customer name - Client Name
     • Rent amount due
     • Late fee
     • Approved by - associate first initial and last name
     • Client account number
     • Total due
     • Safe Deposit Rent Payment Credit Example 

       
       
       

  5. Stack the debit memo with the Safe Deposit Rent Payment ticket and place the transaction in the teller work for processing.
  6. Do Not debit a Dormant Account.

• Client with Closed or Dormant DDA Account - Account Billing

  Past due safe deposit box rent cannot be charged to a closed or dormant DDA account. If a client has a past due safe deposit box and a closed or dormant DDA, do the following:
  
  

  1. In Xperience > complete a Synapsys Services Event DS-Safe Deposit General Maintenance to change the charge type to Mail Notice.
     1. In Xperience > CRM > New Event/Activity > Service Session.
     2. Choose Deposit Services > DS - Safe Deposit General Maintenance.
     3. Click OK.
     4. In the Summary field, enter Change from charge to mail notice.
     5. In the Primary CIF# field, enter the client's Client Identification File (CIF).
     6. In the Box # field, use the drop-down arrow to choose the client's box #.
     7. In the Billing Method Change section, use the Charge Type drop-down arrow to choose Mail Notice.
  2. Once Deposit Services completes the Synapsys event, the system auto-generates a notice to the client advising that their safe deposit box rent is past due.
  3. Office associates must continue efforts to collect the past due amount.
  4. The Synapsys Event activates the required time period for the box to be placed into a drilled status after the state-mandated requirement.