topic Re: Safe deposit boxes aren't safe in Community Chat

Safe deposit boxes aren't safe

SeaMaiden — Fri, 19 Jul 2019 19:54:55 GMT

Wow!😲 This was eye opening to me. If you have a safety deposit box.....and have valuables in it you assume are SAFE.....you might want to read the fine print on your safety deposit leasing agreement. They may not be safe at all! A must read for those with valuables in a safety deposit box!

I only have a few papers in mine....now I know never to put real valuables in one. You learn something new every day!

https://www.msn.com/en-us/money/personalfinance/safe-deposit-boxes-arent-safe/ar-AAEyX56?li=BBnbfcL

Re: Safe deposit boxes aren't safe

RetRN — Fri, 19 Jul 2019 20:08:59 GMT

First off, don't ever assume anything.

Re: Safe deposit boxes aren't safe

golding76 — Fri, 19 Jul 2019 20:25:35 GMT

Thank you, SeaMaiden. I have been thinking to return some jewelry to my safe deposit box. Now I know that I won't.

Re: Safe deposit boxes aren't safe

Grouchomarx — Fri, 19 Jul 2019 20:26:17 GMT

That's a crazy story. I would imagine most people have never considered a safe deposit box to be so unsafe. Somebody needs to sue the pants off these banks for letting people steal all their stuff. I feel bad for all these people losing precious things.

Re: Safe deposit boxes aren't safe

SeaMaiden — Fri, 19 Jul 2019 20:33:31 GMT

@Grouchomarx wrote:
That's a crazy story. I would imagine most people have never considered a safe deposit box to be so unsafe. Somebody needs to sue the pants off these banks for letting people steal all their stuff. I feel bad for all these people losing precious things.

@Grouchomarx I think many people think that it is a safe place ....probably better to invest in a real good safe in your home( not a cheap one) if you have valuables

Re: Safe deposit boxes aren't safe

Pearlee — Fri, 19 Jul 2019 20:35:40 GMT

Something I've seen - firsthand - banks commonly do is leave the person alone in the vault who drills open the safety deposit boxes of people who owe on them.

Whaaaat? That person can drill open any darn box he or she wants, then, take the contents, and replace the lock on it. Why would they ever leave anyone alone in the vault who can open any of the boxes?

Re: Safe deposit boxes aren't safe

SharkE — Fri, 19 Jul 2019 20:39:08 GMT

bunch of phoony

Re: Safe deposit boxes aren't safe

godi — Fri, 19 Jul 2019 20:41:51 GMT

Wow how sad for that man. I have paperwork in mine. I copied all of it and the copies are in my home. Thanks for the heads up on this issue.

Re: Safe deposit boxes aren't safe

World Traveler — Fri, 19 Jul 2019 20:42:25 GMT

@SeaMaiden Well, that sucks!

I'm glad I read your post. With my mother dying last month, there were things of hers I wanted to preserve in some place that was safe. I thought about a safe deposit box at my local bank, but maybe not now.

Re: Safe deposit boxes aren't safe

Foxxee — Sat, 20 Jul 2019 08:34:11 GMT

With valuables like this, install a very good alarm system in your home, store them in a very heavy safe with jimmy proof lock, put a moat around the house with alligators in it, an electrified fence and bars on the windows and doors, get a pack of huge attack dogs, drones hovering overhead, always make sure someone is always awake at home holding a loaded gun. HA! Even that wouldn't be foolproof.

Re: Safe deposit boxes aren't safe

VenturaHighway — Fri, 19 Jul 2019 21:24:05 GMT

I have had a SDB for over forty years and there has never been a problem.

When a terrible tornado went through our town, the only thing standing downtown was the three banks safety deposit boxes.

And as far as someone drilling a box, they would have to know what box had valuables.

I have been a bank manager and the SDB are safe.

Re: Safe deposit boxes aren't safe

Anonymous032819 — Fri, 19 Jul 2019 21:34:10 GMT

I have a feeling that this is yet another fake news, click-bait story.

I'll take a safe deposit box over my mattress any day.

Re: Safe deposit boxes aren't safe

NicksmomESQ — Fri, 19 Jul 2019 21:40:06 GMT

When my mom passed I emptied her SDB & everything was in there.I have one now but only keep papers in it.

Re: Safe deposit boxes aren't safe

blackhole99 — Fri, 19 Jul 2019 22:37:11 GMT

I cannot believe that there are not video cameras inside the bank vault where the SDB is.

Re: Safe deposit boxes aren't safe

Marp — Fri, 19 Jul 2019 22:38:42 GMT

@Anonymous032819 wrote:
I have a feeling that this is yet another fake news, click-bait story.

I'll take a safe deposit box over my mattress any day.

https://duckduckgo.com/?q=banks+sued+over+safety+deposit+box+losses&t=h_&ia=web

Re: Safe deposit boxes aren't safe

CelticCrafter — Fri, 19 Jul 2019 22:40:54 GMT

There's no way to prove what's in the box.

I could say I had a $50,000 diamond ring in it - who's to say otherwise?

Re: Safe deposit boxes aren't safe

January121 — Fri, 19 Jul 2019 23:20:17 GMT

All I have to say is WOW!!!!

Re: Safe deposit boxes aren't safe

Abrowneyegirl — Fri, 19 Jul 2019 23:25:54 GMT

I recently learned about this situation and today I read this story.

I just don't get it. It sounds like the Wild West. I am not sure where to keep belongings safe.

We have a SDB where we keep copies of valuable paperwork, jewelry appraisals, jump drives of photos etc.

Re: Safe deposit boxes aren't safe

SeaMaiden — Fri, 19 Jul 2019 23:41:06 GMT

@golding76 wrote:
Thank you, SeaMaiden. I have been thinking to return some jewelry to my safe deposit box. Now I know that I won't.

@golding76 Or at least read the paperwork you signed completely so you know what they insure.

Re: Safe deposit boxes aren't safe

sidsmom — Fri, 19 Jul 2019 23:47:44 GMT

@VenturaHighway wrote:
I have had a SDB for over forty years and there has never been a problem.

When a terrible tornado went through our town, the only thing standing downtown was the three banks safety deposit boxes.

And as far as someone drilling a box, they would have to know what box had valuables.

I have been a bank manager and the SDB are safe.

Physically safe from tornadoes BUT not water proof.

Many years ago before Harvey, Houston was flooded...

and many SDB holders found out that fact too late.

A good friend, who was a banking center manager, tells stories

about a husband/wife joint box...and they were in their box

all.the.time. Come in on Friday, leave w/ a filled bag &

deposit large amts of cash on Monday. He’s convinced there

were large amounts of drugs being stashed in there,

but no one would ever know for sure.