Posted by Donald Sloan on 1/6/11 11:00am
Msg #367300

services

Just FYI if you are new or don't know, banks need outside Notaries to be present when they have safe deposit drill outs. They usually pay at hourly rates starting around $60.00 per hour. I have made it a point to despense my business card to all the banks in the area. Just food for thought.

Reply by Moneyman/TX on 1/6/11 11:20am
Msg #367302

Great idea Donald. Thank you for posting the tip!

Reply by BrendaTx on 1/6/11 12:54pm
Msg #367325

Outside notary not specified in Texas, but notary is req'd

http://law.onecle.com/texas/finance/59.107.00.html

Two witnesses must be present. One has to be a bank employee; the other has to be a notary...and, like I said, it does not specify that the notary must be from outside the bank.

I think $50-$60 is a reasonable fee for an hour; it covers travel, etc.

The last time I was a witness to the opening of a deposit box so that items could be viewed and retrieved for appraisal, the time involved was closer to two hours...some "boxes" are more like walk-in vaults.

Any notary can be called to perform impartial witness tasks. It's what notaries do.

Reply by Michael Gilman on 1/6/11 11:31am
Msg #367305

That's what I am talking about! Great idea. I knew that but you know somethings have to bite you to get your attention! Thanks for sharing. Enjoy your day.

Reply by Alz on 1/6/11 11:54am
Msg #367309

Thanks for sharing. n/m

Reply by FlaNotary2 on 1/6/11 12:17pm
Msg #367315

This is NOT an authorized duty in every state

Just wanted to make that clear... notaries in Florida can do this, but there are many states that do not allow it. Check with your SOS or state handbook.

Reply by Cari on 1/6/11 6:33pm
Msg #367382

Re: This is NOT an authorized duty in every state

really? which states...just curious....

Reply by FlaNotary2 on 1/6/11 7:56pm
Msg #367388

The last time I checked, the only states that allow notaries

to do this were Florida, Tennessee, Massachusetts, Georgia, and Pennsylvania.

Reply by MikeC/NY on 1/6/11 8:07pm
Msg #367390

Re: The last time I checked, the only states that allow notaries

NY allows it also.

Reply by BrendaTx on 1/7/11 6:04am
Msg #367407

Texas requires a notary, as I mentioned before.

Some states mention it in the notary rules; some states mention it elsewhere in the state code.

I think it would be more accurate to say that the notary rules mention it in Florida, etc.

I do not know of any state with rules that prohibits a notary from witnessing signatures on statements regarding safe deposit boxes.

Reply by Linda_H/FL on 1/6/11 12:31pm
Msg #367316

1. State specific as to procedure for this;

2. As stated..not an authorized notarial duty in all states;

3. $60/hour?? That's insane. Statutory fee, modest travel fee if allowed by state and MAYBE a small service fee - that's it ...

Food for thought - keep it real

Reply by jba/fl on 1/6/11 12:38pm
Msg #367317

Maybe XYZ has new offering we don't know about yet? n/m

Reply by PAW on 1/6/11 12:38pm
Msg #367318

I don't think it's insane at all. Personally, I charge $50/hour which includes the statutory fee. Do you know how long opening and inventorying a box takes? The last one I did (4 years ago) took over 3 hours. No way would I let it go for $20.

Reply by Linda_H/FL on 1/6/11 12:41pm
Msg #367319

So far the ones I've done have been empty

so there's no way I can justify more than $25-$30 to do these...

And even if there WAS a full inventory to be done - $60/hour? That's steep to me.

MHO

Reply by Michael Gilman on 1/6/11 12:43pm
Msg #367320

Re: So far the ones I've done have been empty

Although I have not done any of these, when I figure my fees it is always based on $40 - $50 per hour.

Reply by PAW on 1/6/11 12:44pm
Msg #367321

Re: So far the ones I've done have been empty

Well, given a $50/hour charge, and empty box would probably be the minimum fee of ½ hour or $25. Seems to fit.

Reply by James Dawson on 1/6/11 12:48pm
Msg #367323

Re: services parking for 1 hr downtown bank garage $24 n/m

Reply by Joan/CA on 1/6/11 2:36pm
Msg #367362

Thanks Donald for the info! That was very nice of you! What are the normal payment terms for this service with the banks? Also, do Credit Unions need the same service?

Reply by Cari on 1/6/11 5:34pm
Msg #367376

$60 seems about right for me....thx for the info! n/m

Reply by FlaNotary2 on 1/6/11 7:57pm
Msg #367389

Are you sure CA notaries can do this?

There is nothing mentioned about it in the handbook.

Reply by BrendaTx on 1/7/11 6:21am
Msg #367409

Re: Are you sure CA notaries can do this?

The OP doesn't say that the notaries can "certify" contents; he said must be "present", which is not exactly accurate. However, he may have been told that by a bank employee. It may be a bank's policy to have a notary present. Banks may create their own policies about this for extra protection.

From what I read at the link below is that the California Finance Code states that a bank officer must be present when the box is opened, but does not mention a notary. The code does say, however, that a notary must be present if any of the contents are destroyed.

http://www.legaltips.org/california/california_financial_code/1660-1680.aspx

Notaries that do not have the authority to "certify" contents, do have the authority to administer an oath and execute a jurat on a sworn statement regarding those contents.