[dewilson58]

Originally Posted by Smalley

Safety Deposit Boxes are not 100% safe. Theft can occur by a bank employee on rare occastions. We have one of them....free with minimum balance at our bank but we talk about installing a fire proof home safe to replace it.

Banks do not have the customer key, or a master key to get into the boxes.

Banks have to drill the locks to open boxes.

[dewilson58]

Originally Posted by Michael G.

I can't believe the bank doesn't have master keys to get into all the boxes.

They don't. Period.

[Aces4]

Originally Posted by ElDiabloJoe

Or you have, collect, and use firearms. Or you are smart and protect your vital documents. Or you have experienced civil disorder and understand how cash and guns are vital to survival.

I didn't realize that under civil disorder the bank will be open and you will be welcomed in to pick up your gun from safe deposit, huh.

[CoachKandSportsguy]

LOL!

I don't have anything I want to store in a safe deposit box. . . nor do I own a safe. .
just not worth putting something expensive into it, and only have to spend money to go see it. .
and if no one knows its in your house, why would they come in your house to get it?

its easier to give the family jewels to the heirs so they can keep them and admire them. . I have had them long enough. .
sentimentality is the curse to a house with limited storage. .

[Aces4]

Originally Posted by CoachKandSportsguy

LOL!

I don't have anything I want to store in a safe deposit box. . . nor do I own a safe. .
just not worth putting something expensive into it, and only have to spend money to go see it. .
and if no one knows its in your house, why would they come in your house to get it?

its easier to give the family jewels to the heirs so they can keep them and admire them. . I have had them long enough. .
sentimentality is the curse to a house with limited storage. .

You are speaking a mouthfull! I couldn't agree more with your sentiment and keep telling our kids not to worry about "things". They tie you down and waste your time. Live simply, well and enjoy the ride through life.

[badkarma318]

FBI to Return or Compensate Owners of Illegally Seized Coins, Money, Other Assets

[HappyTraveler]

Originally Posted by vintageogauge

You have been watching too many movies.

Yes, I have watched many heist movies. Great escapism!

But that has nothing do with what I wrote. This, however, explicitly does and perhaps you might know why it was not comprehended by some readers here?

**NOTE: These are all very low probability.*

When that disclaimer was so clearly provided why have some gotten rattled about the rest of the post? What say you?

I will guess it's because they never thought a bit about what risks exist (however minimal) with using that means of protection and they're a bit embarrassed about that. But, you see? That's the value of these forums -- to share info, ideas, thoughts, strategies, recommendations, etc.etc. etc.

In my wildest dreams, I cannot imagine being unsettled by mere words spoken or written particularly when not personal in nature. But then, I'm crazy like that.

Hat tip to Comment #21 -- Haha, another remote possibility - outright Govt confiscation.
From link: ....the Federal Bureau of Investigation (FBI) had seized the contents of hundreds of boxes belonging to customers who were not under investigation as part of a raid

[star20166@yahoo.com]

In the event of a bank holiday (forced closing, lack of funds, etc) your SDB would not be accessible. FBI routinely looks at contents of SDBs in their investigations.

[dewilson58]

Originally Posted by star20166@yahoo.com

In the event of a bank holiday (forced closing, lack of funds, etc) your SDB would not be accessible. FBI routinely looks at contents of SDBs in their investigations.

fake news

[Berwin]

Just thinking about how disappointed a robber would be if they took the time to drill into any safe deposit box of mine.

[MFN-VAN]

I use a box just to hold originals of important papers (wills, POA, etc)…… protection against fire mostly. I keep copies at home and have an inventory to help my executor.

It’s important to get one of your heirs on the signature card so they can get at your stuff if something happens to you.

[retiredguy123]

Originally Posted by MFN-VAN

I use a box just to hold originals of important papers (wills, POA, etc)…… protection against fire mostly. I keep copies at home and have an inventory to help my executor.

It’s important to get one of your heirs on the signature card so they can get at your stuff if something happens to you.

For almost all legal documents, you do not need the original document. It is more important to scan the documents and store them on the cloud. I use the Google Drive, which anyone with a Google account can access from any device connected to the Internet, with 15GB of free permanent storage. Just go to "drive.google.com". You don't even need to set it up because the "mydrive" is already there and ready to add documents. 15GB is plenty of storage space to store all of your scanned legal documents.

[Mrmean58]

Originally Posted by Michael G.

Do you use them?
How safe do you think they are?
From what I read, there is no federal control over, or what banks do with them.

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I'm not sure what you mean by "no federal control". Are they covered by federal insurance? No. Financial institutions have no idea what the safe deposit box renters put in their safe deposit boxes so there is no insurance coverage.

[USOTR]

Safe Deposit box are extremely safe.

I use to work for an armored truck company who had the contract with the State of Florida.. If a safe was derelict and the owner could not be reached, the bank would have to file a report with the state of Florida. The state of Florida would direct us to place an armed Officer in the vault while the safe deposit box was drilled open. The content was then placed in an evidence bag that was signed by the armed Security Officer, and the bank branch manager. Those bags where then transported via armed armored truck to Tallahassee and delivered to the department, whose job was to try and locate family members or the owner of that safety deposit box.

Bank employees have one key to the box.. You the owner of the box has the other one.. The only way to open that box is to drill the lock that the owner has the key too.

[RoboVil]

Originally Posted by Michael G.

Do you use them?
How safe do you think they are?
From what I read, there is no federal control over, or what banks do with them.

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Safer than keeping valuable items in your house, such as, gold coins.