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Dual control: Two peopleusually a bank employee and the renterare required to open the box. In this way, no one person can ever open the box and remove the contents. Authorized signature: When the safe deposit account is opened, all persons authorized to access the box sign a signature card.
Come to the bank with your safe deposit box key. You will need to sign an admission slip to get access to the Safe Deposit area of the vault. A Safe Deposit Area attendant will take you to the vault. With the bank's Guard Key and your key, open your Safe Deposit Box slot.
Concerned About Theft by Bank Employees Its contents are guarded by the bank with a "triple-redundant" security system. First, the safe deposit box is in a secure area, in the bank vault. Bank customers are not allowed open access to this area. You must sign in with bank security staff to enter the vault.
Every bank branch requires a signed signature card for each person (regardless of whether or not they have an account with the branch) who wants access to your safe deposit box. The people who attempt to access your box must sign their name before they enter the bank vault.
You'd think that an executor, spouse, family member of the deceased, or anyone with a key can walk into the bank and open a safe deposit box. But, that's not the way it works. In most states, safe deposit boxes are sealed and cannot be accessed when the original renter passes away.
Every bank branch requires a signed signature card for each person (regardless of whether or not they have an account with the branch) who wants access to your safe deposit box. The people who attempt to access your box must sign their name before they enter the bank vault.
Law Enforcement Access In criminal cases investigators can force the box open and seize its contents. For noncriminal matters like tax cases, the IRS can have a hold placed on the box until the owner's debt is satisfied.
A safe deposit box is a locked storage bin, usually in a vault or secure area, that banks and credit unions rent. Typically, customers receive a key, and must check in with a bank employee, who uses a second guard key in tandem with the customer's key, to unlock the box.
A dual key system protects safe deposit boxes. The bank provides you with two keys of your own, and the bank has a 'guard' key. Without the combination of one of your keys and the bank's guard key, the box cannot be opened.