Are Safe Deposit Boxes on the Way Out?
StreamedOct 6, 2022Duration90 minutes
See Registration Options
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
Are safe deposit boxes still a viable service?
How can that be determined? What’s happening nationwide? This presentation will provide answers to the most frequently asked “phasing-out” questions. What’s your institution’s plan?
AFTER THIS WEBINAR YOU’LL BE ABLE TO ANSWER THESE QUESTIONS:
- Why are nationwide institutions eliminating this service?
- What might happen if safe deposit services are discontinued?
- How much notice must be given if service is discontinued?
- What safe deposit operating expenses could be saved?
- Will offering self-service boxes save money?
- Are home safes a better consumer option?
- Who are your current safe deposit box renters?
- Is your service a profit center or loss leader?
There are an estimated 30 million safe deposit boxes rented in thousands of financial institutions nationwide. Although banking is a highly regulated industry, there are very few laws governing safe deposit operation and no guidelines for eliminating this service. Should your safe deposit service be phased out? Many large nationwide institutions are eliminating safe deposit services and not installing boxes in new branches. They are regarded as a headache, expensive to install, complicated to operate and maintain, and not very lucrative. Learn the pros and cons for continuing or discontinuing this service.
WHO SHOULD ATTEND?
This informative session will be of special interest and benefit to legal counsel, branch managers, training departments, compliance and marketing officers, and senior management responsible for managing safe deposit operations.
- Links to safe deposit news articles and safe deposit websites
- Mini audit report card
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.
Safe Deposit Specialists
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