Posted on 09/09/2013 9:59:13 AM PDT by Chickensoup
Just received a change to safe deposit box rules in the mail.
I have the scan but do not know how to upload it:
Permitted USES: Lessee shall use the safe deposit box for storage only of Lessee's items and for no other purpose and use. Lessee acknowledges that the safe deposit box is not intended to store, by way of example without limitation, such things as domestic or foreign currency, whether paper, coin or other form. Lessee further agrees not toe store any property that is inherently dangerous, malodorous, or destructive in nature. If any such item is stored in the safe deposit box the bank may drill the safe deposit box and remove the contents the cost of which must be paid by the lessee as well as the cost of storage and disposal...
I have the scan but do not know how to upload it:
Permitted USES: Lessee shall use the safe deposit box for storage only of Lessee's items and for no other purpose and use. Lessee acknowledges that the safe deposit box is not intended to store, by way of example without limitation, such things as domestic or foreign currency, whether paper, coin or other form. Lessee further agrees not toe store any property that is inherently dangerous, malodorous, or destructive in nature. If any such item is stored in the safe deposit box the bank may drill the safe deposit box and remove the contents the cost of which must be paid by the lessee as well as the cost of storage and disposal...
_________________
aside from some family jewelry and silver, and some photo backups, and papers, I have a few coins given to my daughter at her birth...this seems weird...
Is this common?
No, that is if you leave something dangerous or malodorous.
But why would they talk about money and coin?
I’m surprised not to see a prohibition on firearms in safe deposit box. Maybe freepers can check and see if any states or big banks do that?
I think it’s time for you to buy a safe.
I have no idea. I would ask the bank, or go shopping for some other place to store your coins/currency.
“... box is not intended to store...” sounds to me like an informational warning - we didn’t put this box to store money, not that it can’t but it isn’t INTENDED to. sounds to me like if the box gets compromised, that they’re covering themselves from damages (I had a million dollars in there!)
Sorry if I missed it but, WHAT BANK?
TD Bank
Yeah, that’s what it sounds like to me. If it was some new government regulation, we’d all be hearing about it, so it’s probably just the bank covering its patootie.
yes, that is old news. this can’t be new. That has been policy going back for decades.
It’s one of those secret government anti-money laundering regulations that banks supposedly can’t tell you about. We found out last year from our bank that we can’t make more than six electronic transfers between checking and savings per month, or else that the bank would have to convert our savings account to another checking account. It’s mind boggling stupidity.
It was when I worked at a bank, and that was many years ago.
No, our banker told us discreetly that there is a whole body of secret government anti-money laundering regulations that banks must follow but yet cannot informer their customers about. It’s just like all the NSA nonsense.
Sounds like they don’t trust the security of their own bank, or customers who might break into other customer’s boxes.
Buy two. There’s the safe with a couple hundred bucks in that you want the burglers to find, and then there is the “real” safe somewhere else.
Unless case law has changed, banks have never been liable for losses from a safety deposit box.
My guess? Some new Federal rule intended to cut down on using the boxes as virtual mattresses for storage of cash. So the bank covers itself by passing on this weak warning. The bank does not, and can’t, forbid people to put cash in the boxes in spite of the warning.
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