Among Friends

[tends2dogs]

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@jlkz wrote:

@tends2dogs

At set up, each person who was to have a key had to meet with the bank official, show picture ID, give SS #, and sign a signature card.

When needing to access the box, the individual had to show his/her keys; sign the access register for that box in front of the bank person; give them the key; and, accompany them to the box where the bank key and their key would be inserted to unlock the drawer.

While the individual takes the box to the private area, they need to keep their key with them, not leave it with bank person.  Reverse order to return box to secure drawer and collect the key back.

One bank I looked at simply gave you a key and you could go in at will by yourself and unlock the drawer with the box.  If you lost your key....oh well.

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Thanks @jlkz  That is how our bank does it.  Sign in and your signature is compared to the card you originally made out. 

[YorkieonmyPillow]

@Tinkrbl44 I assume for the same reason anyone steals. Because they wanted it.

Unrelated, and from 1996, but pertinent:   http://articles.latimes.com/1996-10-23/business/fi-56729_1_safe-deposit-boxes/2

The story I am referring to near me used to be online, but I can't find it now. It might be cached 100 pages back, IDK.

[151949]

How could you file a claim against the contents of a safetyu deposit box when you would have no proof of what is in there ? No one would pay on it. And my DH specifically asked if it was floodproof when we moved here to the seashore and they said as long as the door is closed  - in other words - if the bank is not open. 

[sidsmom]

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@151949 wrote:

How could you file a claim against the contents of a safetyu deposit box when you would have no proof of what is in there ? No one would pay on it. And my DH specifically asked if it was floodproof when we moved here to the seashore and they said as long as the door is closed  - in other words - if the bank is not open. 

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Read your contract more closely.

That's why you need an additional insurance for your

safe deposit box items.   

If the bank, with all their sensitive equipment,

ATM & cash in the vault & teller boxes, is under 4 feet of water,

so are your important papers.  Everything is under water.    

Wouldn't the bank flood proof their equipment, as well, if they could?

If flooded, your items would suffer the same consequences 

as everyone else.   No such thing as a flood proof safe deposit box.

[granny me]

This is why way back in the day, people hid money in pipes, in the back yard, behind pictures they didn't trust the bank and afraid of theft. When one of my relatives died we found money hid every where. One place we found money was in a pipe in the basement, it was wrapped in brown paper and it was disintegrated when we pulled out. Every picture in the house had to be taken apart, inside of every pocket had to be felt for money sewn into them. But they immigrated here and they didn't trust anyone with their money.

[BLH]

The only thing about a safe deposit box is that if you die, no one will be able to get into it.  It can take a long time and everything will be gone through at that time.  A person can not do it alone.  

[libbyannE]

FYI, it isn't "safety deposit" but "safe deposit." You are best off at the bank. Friends of ours had their safe stolen. It was cemented in, but thieves broke up the cement. Relative's out of state found that their "fireproof' safe really wasn't when they had a fire. No place is perfect, but I'd go with the bank. Our legal papers and valuables are dided among two banks. We keep very little of value at home.

[Helen Bach]

I don't trust banks or the people who work there.  For some reason, I trust a credit union more

A little off topic, but I must say,  DO NOT stash your cash in your Bible.

[Piperdellilah]

You can always have more than one name on a SDB. 

[151949]

My Mom and Dad kept all their valuables in their home in a can of coffee. They took out the coffee - placed the jewelry & money they wanted to keep there in a plastic bag and wrapped up in paper towels so it would not make any noise if shook. Then they placed that in the bottom of the can and covered it with ground coffee. 

When someone dies the bank will notify the IRS and they will send an agent to watch the executor open the box and inventory the contents. Everything gets written down , even just sentimental things like my Mom kept our baby teeth and each of my brothers hair from their first haircuts, and all our report cards from school and school pictures.That was all written in the inventory even though they had no value what so ever.Then the stuff that had value was taken to be assessed and returned to me at a later date, with the assessers values assigned to each item included. There was a lot of jewelry, gold & loose stones because my G'Pa was a jeweler.