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Safe Deposit Boxes
Leasing of Safe Deposit Boxes is considered to be one of the oldest services provided by banks. During times of insecurity this service gains prominence. Customers withdraw funds from their bank accounts and prefer to keep them in cash or invested in valuables. The availability of Safe Deposit Boxes during such times allows banks to retain customers and partially offset the loss from non-use of one service (deposits) by providing a different service (namely Safe Deposit Box rent). In addition, once the situation returns to normal, the customer is more likely to deposit their savings into an account with the bank where they kept their cash in a Safe Deposit Box. The CSBI ‘Safe Deposit Boxes’ solution allows banks to automate the following routine processes:
Generation and servicing of Safe Deposit Box lease agreement.
Payment for the lease of the Safe Deposit Box (cash or non-cash payments).
Tracking of Safe Deposit Box keys: delivery of keys to the customer, return of keys, recording loss of keys
Alterations of the Safe Deposit Box.
Documenting forced entry to the Safe Deposit Box; the system automatically generates the following documents:
- Forcible entry report for individual Safe Deposit Box
- Inventory of contents
- Contents sealing report
Registration of the customer’s admission to the Safe Deposit Box (allows print out of an admission card to give the customer access to the Safe Deposit Box)
Status assignment to the Safe Deposit Box:
- Empty – the Safe Deposit Box is not in use and can be leased out or booked. When registering a new Safe Deposit Box lease agreement, the one with smallest available number will be chosen.
- Rented – the Safe Deposit Box is used under a current Safe Deposit Box lease agreement
- Broken – the Safe Deposit Box is not in use and cannot be chosen at the registration of a new agreement
- Booked – the Safe Deposit Box is temporarily reserved for a certain customer and cannot be leased to a third person
Registration of new Safe Deposit Boxes
Batch processing of Safe Deposit Box lease agreements:
- Transfer of lease payment from deferred revenue accounts to profit accounts;
- Automatic alteration of agreements’ status
Maintenance of agreements register
The CSBI ‘Safe Deposit Box’ solution has been successfully implemented and is in use in the following banks:
Bank Saint Petersburg
Baltinvestbank
Agroros Bank
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