Greetings Notary Cafe Family: Recently, I’ve seen a few jobs come across Snapdocs for witnessing of the opening of safety deposit boxes. New to notary services, I was wondering if anyone has performed such services and if so, can you share what witnessing the opening of safety deposit boxes entails. I would like to take something like this on in the future. Thanks!!
1 Like
I’ve done a couple, and they are generally pretty interesting. You stand in the vault with a locksmith and a bank employee while the locksmith opens the box. The bank employee generally is praying that the box is empty. If so, great. If it is not empty, they have to inventory the contents and pack them up to send to a central storage area. Either way, there are one or two documents for them to sign and for you to notarize. Standard pay is an hourly rate plus a travel allowance.
3 Likes
Sounds like it “could” be simple enough. Thank you!
1 Like
I have several Banks that hire me for this! Don’t sell yourself short! $45 is the right wage with a 4 hour minimum!
2 Likes
Great rate…I appreciate the feedback!
1 Like
The person or whomever claims the abandoned property has to compensate the bank for cost of drilling and notary in order claim abandoned property before contents are revealed. Banks charge $150 each box. Your fee is never absorbed by the bank at end of day!
1 Like
I have also done a number of these. The company that I contract with pays by the hour and a separate figure for mileage per day. These are generally 2 days or more and are interesting to do. As a notary, you just observe the process and then there is a notarization at the end where those doing the work are affirming that they handled everything according to the company’s instructions.
3 Likes
I know this is 4 years from this post however, can you advise what companies you use to contract with? I’ve done this a few times and would like to pick up additional contracts in my area. I have googled everything i can to locate these companies but nothing comes up. Other than going to each bank branch I suppose.
1 Like
$45 per hr? Nice. I need to call my my banks:)
1 Like
Honestly? Take a stack of business cards and go to each bank branch in your area that you’re willing to travel to if they call. Personal introduction is a great thing - while you’re there you might ask to speak with their mortgage loan officer too… (hint hint). Dress professionally so they’ve met you face to face, they know you and will remember you - possibly pass your name on to their customers looking for a notary for documents which they will not notarize (many banks won’t notarize documents not specific to their bank). If they say “well, we have a notary here that can take care of that”…respond politely with “ah, of course, but will your notary travel to them after hours to accommodate them at their home or place of business? Because I will”.
Foot in the door
4 Likes
This was back when Wells Fargo had bought put some banks and were closing some because they weren’t profitable due to being to close to another Wells Fargo. They contracted with a company that handled the bank closing process for them. I haven’t heard from them since that process was completed. You could always check with Wells Fargo.
1 Like
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.