This got my attention …I got paid a grand for my time. How did this work? How many boxes did you do for the Grand?
2 Likes
Read Tisino’s reply.
6 branch banks. Sitting in a vault for six hours at a time. I’ll pass if they call me again.
It has nothing to do with the number of boxes. It is time dependent at a very decent hourly rate. It is tedious work and you are watching every detail as the auditors catalog everything in the box. One of the boxes I witnessed was a deceased jeweler. Every stone, no matter the size, had to be accounted for. They had to count them 3 times as the count kept coming up different (there were hundreds). They asked for my assistance with the count and when we finally got two identical counts, we called it good. Sometimes you will be there all day on one box. And, you are closed in that vault and you have to clock in and clock out with security. And, because it’s tedious work, there is very little outside talk. It’s not for everybody.
6 Likes
Agree @Tisino - very tedious - here in FL the notary is responsible for doing the inventory and signing off on it. You stand there while they drill and you’re praying “please be empty please be empty please be empty”…LOL
7 Likes
“And, you are closed in that vault?” UGH!!! They can keep that! I’m claustrophobic! …LOL. It can have one way in, but better have two ways out!
1 Like
So it’s like they pay to keep you in jail for a few hours! 
. Jk hahahaha
2 Likes
Lol now I am really rethinking if i really want to do this!
1 Like
Gotta love Notary Cafe, you ask a question and get all kinda of answers!
1 Like
Yes! I am so happy I asked because I would have been in for a big surprise being locked in a vault. Lol wonder if there’s wifi or if i could bring snacks lol jk
There’s way more to this than I thought
1 Like
Sounds like they would literally have to promise to make my next mortgage payment for me to even consider…lol!
In my situation - I was not “locked in a vault” per se -
Two rooms - anteroom with small desk, next room was the vault - vault door open, I go in with driller and bank officer, watch him drill, he hands me the closed box, I go out to anteroom w/ bank official who opens box - voila - inventory begins.
Just need to think of a base fee for these, then an hourly/quarter-hourly rate should you need to list all items. Make sure bank official knows your fee is dependent on circumstances and time involved, with base fee due and payable no matter what - the one I worked with came in with me with a blank check. She was my friend… 
5 Likes
I have had both types of experiences. But, in smaller branches, there is usually not an ante-room. You are closed in the vault (not locked), and all vault services are suspended for the time audits are in progress. However, it was my experience that an audit team from the bank were the ones who handled the contents of the lock box, not me as an outside notary. All of the contents and paperwork associated with the box contents were in the control of the auditors, which they removed to an envelop or box. Those contents were then moved to a safe for keeping until claimed or handed over to the state as unclaimed property. The box gets rekeyed and made available again.
As stated above, as the notary I was only there to witness and sign off on the work of the auditors as an unaffiliated third party. In all instances where I performed this procedure there were dual controls for security. So, I signed witnessing the box opening, content removal and content storage. I’ve only done this 3 or 4 times for the same bank, different branch locations. I passed up a few requests because I was not willing to travel outside of the county to perform more. It suited me and my personality. I would happily do it again.
2 Likes
Oh, That’s priceless. Yep !
So, the big question is…what was your pay?
So what was your base fee?
@JohnM-FL I did this for one bank branch in Lake City - (it was 15 miles from me so I set my base at $35-$50 base (if box was empty, and this included our statutory allowable $10 fee) then $20/hour if inventory required.
Funny thing was, the main office of this same bank in the same city told me they didn’t want to pay me that much - they could find someone cheaper…LOL. (this was about 10 years ago).
I don’t have exact recollection of base. Think it was between $50-60/hr. I just remember that I earned about 3x more a day than I would have earned doing normal notary work. Plus, they paid mileage as a separate expense for every location driven to (portal to portal) and parking if there was not a bank lot.
1 Like
I have never heard of this and I live in Oregon so perhaps our state doesn’t require such a service. Sounds like something worth looking into though considering the current CNSA market.
2 Likes
This topic was automatically closed after 90 days. New replies are no longer allowed.