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#617505 - 09/25/06 05:43 PM SDB Notice
ML Offline
100 Club
Joined: Apr 2004
Posts: 220
I was reviewing a BOL tool that is so helpful with all the items needed for a new branch. I have one question on the New Branch Signage Checklist. What is a SDB Notice and where would I find one?

Thanks-

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#617506 - 09/25/06 05:48 PM Re: SDB Notice
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
That term may apply to the CIP notice, since safe deposit customers are customers for the purposes of the CIP rules; but it's more likely a notice that the bank and FDIC do not insure the contents of boxes, and the customer should obtain coverage from the customer's insurance agent.

In some states, a notice of this type is required. Whether or not required, I think it's a good idea.
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John S. Burnett
BankersOnline.com
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#617507 - 09/25/06 06:25 PM Re: SDB Notice
ML Offline
100 Club
Joined: Apr 2004
Posts: 220
Thank you-

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#617508 - 09/25/06 08:08 PM Re: SDB Notice
8675309 Offline
Diamond Poster
Joined: Jun 2004
Posts: 1,115
Where the wind comes sweeping ...
Here's what ours says:

Attention Safe Deposit Box Renters
It is your responsibility to procure insurance for the contents of your safe deposit box. We do not know the contents of your box and we do not insure those contents. If you do want the contents insured, we urge you to check with an insurance agent to find the appropriate coverage.

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