SAFE DEPOSIT LOCKER FACILITY.

• Apart from safe custody facility, safe deposit lockers are

also made available to customers on rent.
• Bank holds the master key and a key for individual locker
is supplied to the customer.
• The locker can be opened when both the keys are
applied.
• Bankers is not concerned with the lodgment and
withdrawal of articles in the locker.
• Banker is only responsible for taking adequate measures
to prevent tempering with the lockers or its access by
any unauthorized person.
• A Banker is expected to have the locker cabinets
properly guarded and obtain blanket insurance cover.
 SAFE DEPOSIT LOCKER FACILITY.
• SAFE CUSTODY AND CUSTOMER’S VALUEABLES.
• One of much appreciated facilities offered by a banker to his customers is
that of keeping in safe custody valuables of various kinds, including
securities, deed boxes and documents of title to property.
• Banks issue a specific form of receipt for all articles lodged for safe custody
and require receipt to be returned duly discharged by the customer before
the articles can be withdrawn.
• It is normally provided that the customer shall attend in person to withdraw
the articles.
• Receipts given for locked boxes or sealed envelops should specify
“Contents Unknown”
• Where the receipt issued in joint name the articles will be returned only
against signature of all authorized persons or according to the mandate
given at the time of deposit of articles.
• Upon the death of depositors the banker will require the letter of probate,
succession certificate or letter of administration from the legal heirs.