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Course description

The safe deposit operation is a unique, fast-changing service in the financial industry.

It is the only product or service in which members of your staff do not know the value of a consumer's assets. As a result, every vault transaction can lead to considerable liability. Effective procedures and sound daily practices can counteract and minimize this risk. <strong>This seminar covers the "nuts and bolts" and the recommended day-to-day operating procedures for your institution.



Dave McGuinn, a nationally recognized expert in the safe deposit area, will provide clear, concise answers to all the basic or complicated questions regarding your institution's responsibility, liability and daily operating procedures. In addition, you will receive information about many current lawsuits and other nationwide horror stories.

Obtain answers to these questions and more to establish you own internal procedures.


  • Why should keys to all unrented boxes be secured in locking key wallets?
  • Why should renters be provided with a "No Insurance" disclosure form?
  • Who should handle the renter's key and container during a box access?
  • What tools (purchased on ebay) can open a renter's safe deposit box?
  • What ten items must be included in a "New Safe Deposit Renter's Kit"?
  • What liability exists if access is allowed "before or after" lobby hours?
  • What five types of identification are needed on every new box rental?
  • Why must safe deposit keys be maintained under strict dual control?
  • What ten steps must be followed when granting access to a box?
  • What ten steps must be performed when a renter closes a box?
  • What are the four most important key control procedures?
  • What are the four different styles of box rental contracts?


Instructor(s)

Dave McGuinn

David P. McGuinn, President of Safe Deposit Specialists, is a former banker with fifty years of safe deposit experience and is often referred to nationwide as the safe deposit GURU. in all 50 states he has trained over 350,000 safe deposit employees and managers and has served the industry as President of American Institute of Banking and the American, Texas and Houston Safe Deposit Associations. Dave is a featured speaker for the American Bankers Association, Independent Community Bankers of America, National Association of Federal Credit Unions and over 100 other nationwide financial associations. He has been interviewed by the New York Times, Wall Street Journal, Money Magazine, New York Magazine, Reader’s Digest, Fortune Magazine, Associated Press, National Public Radio (NPR), Canadian Broadcasting Corp. (CBC), British Broadcasting Corp. (BBC), AARP, Bottom Line Financial, FDIC, CUNA, CNN, CBS, ABC, FOX, NBC Nightly News, Inside Edition, Crime Watch and Court TV on current safe deposit issues. McGuinn has created numerous training programs and his Regulatory/Compliance Manual, Policy and Procedures Handbook, Audit Manual and Fire & Flood Disaster Recovery Manuals are now the accepted standard for the financial industry. www.sdspec.com

Course curriculum

  • 1

    Video

    • Safe Deposit "The Do's and Don'ts"
  • 2

    Materials

    • Slides

    • Questions and Answers