Bio:
David P. McGuinn, President of Safe Deposit Specialists, is a former banker with 50 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 the American Institute of Banking and the American, Texas and Houston Safe Deposit Associations. Dave is a featured speaker for the American Bankers Association and National Association of Federal Credit Union TV networks and has been interviewed by the Wall Street Journal, Money Magazine, New York Magazine, Associated Press, National Public Radio (NPR), British Broadcasting Corporation (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 video training programs and his Regulatory/Compliance Manual, Policy and Procedures Handbook and Disaster Recovery manuals are now the accepted standard for the industry. www.sdspec.com Dave has served as a BOL Guru since 2001.
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Upcoming and On-Demand training presented by Dave.
Areas of Expertise:
Safe Deposit Box Compliance Products
In-House Audits and Staff Training
Audit Services
Bankers' Hotline Newsletter
Compliance Audits
Compliance Consulting
Compliance Seminars
Marketing
Operational Risk Management
Safe Deposit Box Products
Security Consulting
Security Training
Training Videos
Disaster Recovery and Contingency Planning
Contact info:
You can contact Dave at Safe Deposit Specialists, P. O. Box 40026, Houston, Texas 77240 - 0026; via telephone (713) 937-9929 or send him an email
sdspec@aol.com.
Questions Answered
12/02/2002
We are adding cameras in our safe deposit box area. Should we position the cameras to cover the area inside the safe deposit vault or just the outside door? If inside, how do we address the privacy of customers who are accessing their safe deposit boxes?
12/02/2002
We are updating our Safe Deposit policy to reflect the USA PATRIOT Act. I would like to know what you think the procedures for a deputy should be as far as verification of the identification. Should we treat a deputy the same way we would handle adding a signature to an account?
10/21/2002
We are in the process of replacing a section of safe deposit boxes that has been in the bank since 1937. We notified the customers they needed to come into the bank and switch to a different section. Four customers have refused. Are we legally allowed to send certified, return receipt letters to these individuals telling them they have to switch their boxes by a specified time or their box will be drilled and turned over to the state? A lawyer is telling us we cannot drill these boxes for 5 years after notification. We want to drill the boxes and hold the contents under dual control for 5 years and then turn them over to the state. What is the correct way to handle this?
10/07/2002
Presently safe deposit renters can either pay by automatic payment from their checking account or send out a annual notice to pay. We are having problems collecting from the customers that we send out notices. Our bank would like to change its policy and REQUIRE renters to have automatic payment from their account or if they don't have an account with us, originate via ACH. Is there any compliance issue regarding the required method of payment? If we require auto payments, I plan to send out a letter to the renters that currently receive notices that they have until the next annual billing to change their payment method.
09/02/2002
Our bank is considering extending the hours for our Safe Deposit area. Must we notify all our renters, or is a sign sufficient for communicating the change? (Having been to a few of Dave McGuinn's seminars, my bank is sufficiently paranoid about Safe Deposit Box issues!)
08/05/2002
Can a bank use or allow a POD on a safe deposit contract?
07/01/2002
We had a customer ask us if we wanted to search his briefcase before he made a deposit and entered the safe deposit area. We said "No". We have policy and procedures for the safe deposit box area, but they do not address a search. Because of acts of terror do you have any suggestions for the possibility of searching a customer's belongings such as passing a wand over the bag or satchels before allowing entry into the safe deposit box area. Banks do not know what is kept in a customer's box. What about his privacy? Is this an issue for other banks?
06/17/2002
Our bank provides safe deposit customers a list of inappropriate objects that are not to be kept in safe deposit boxes. Does anyone have a process for actually inspecting what the renter is putting in the box? In this age of terrorism, etc.. is there any method/practice to screen what is being put into the safe deposit box? This question was prompted by a branch manager who was asked by a non-customer if they could rent a safe deposit box for a "peculiar container".
06/17/2002
Is there a regulatory requirement that mandates a bank to change the lock on a safe deposit box after it is surrendered before it is rented to a new coustomer?
06/03/2002
One of our branch managers got a call from a customer asking whether or not he would be allowed to put a gun in his safe deposit box. This one has stumped us. If the customer didn't call us, we'd be none the wiser. But now that we know he wants to do it, do we have the right to tell him what he's allowed to have in his box?
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