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Honored Contributor
Posts: 16,076
Registered: ‎03-10-2010

Safe deposit boxes aren't safe

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

 

 

Esteemed Contributor
Posts: 5,374
Registered: ‎10-01-2013

Re: Safe deposit boxes aren't safe

First off, don't ever assume anything.

Esteemed Contributor
Posts: 6,115
Registered: ‎05-19-2012

Re: Safe deposit boxes aren't safe

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

Trusted Contributor
Posts: 1,962
Registered: ‎01-23-2019

Re: Safe deposit boxes aren't safe

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.

Honored Contributor
Posts: 16,076
Registered: ‎03-10-2010

Re: Safe deposit boxes aren't safe


@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 

Honored Contributor
Posts: 27,053
Registered: ‎06-11-2011

Re: Safe deposit boxes aren't safe

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?

Honored Contributor
Posts: 24,846
Registered: ‎08-19-2010

Re: Safe deposit boxes aren't safe

bunch of phoony

Respected Contributor
Posts: 2,683
Registered: ‎03-09-2010

Re: Safe deposit boxes aren't safe

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. 

Honored Contributor
Posts: 8,877
Registered: ‎02-02-2015

Re: Safe deposit boxes aren't safe

@SeaMaiden Well, that sucks! Smiley Mad

 

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.

 

 

Trusted Contributor
Posts: 1,795
Registered: ‎10-03-2014

Re: Safe deposit boxes aren't safe

[ Edited ]

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.