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...
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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?
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.
“... 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?
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.
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.
Switch banks. I bet yours plans on imaging each box via x-rays or something ...
Which Bank?
Just buy a safe (and pay cash for it so you don’t leave an electronic trail!) that the gubmint can’t control and store your cash and etc. in there instead. Far safer than trusting a bank that’ll hand over all of your retirement to the government if asked.
On that latter thing just look up what governments in Europe are doing to people’s saving accounts and you’ll see what I mean.
That said, they want you to put your savings in bank accounts where the savings can be monitored and seized at will. Cash that’s sitting in a hidey-hole upsets those bastards in the government who want to be able to seize it at will.
Go to Staples or a similar store and buy a fire-proof locking safe box. We’ve had one for years, and move it from time to time within the house (it’s portable, has a handle). We have not had a safe deposit box in a bank in over 30 years. Best wishes.
I was in a bank and saw that all of the safety deposit boxes were open and being opened. I asked someone i knew there what was going on. They said the boxes were being audited. They walked away from me quickly and i could not find out anything since. But other people said that it happened in other banks too. This was a short time after the present crew moved into the white hut. That is all I know
“Lessee further agrees not toe store any property that is inherently dangerous, malodorous, or destructive in nature”
” 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. “
A CYA from the bank, see the 1930’s Gold confiscation as the reason why they are saying this, it is either a CYA or a indirect warning of things to come or both...
They are actually doing you a favor. They are warning you that the feral government is planning on raiding safe deposit boxes like Roosevelt did. They took all currency and gold coins. It will happen again. We have a gangster feral government.
The most valuable stuff in my safety deposit box are old photos and photo negatives. Many years ago a house in our neighborhood was gutted by fire and my wife and I decided that the worse thing in a tragedy like that would be to lose all your photos. We started to gather the photo negatives of all our kids pictures and other family photos we would never want to lose and store them in our safety deposit box. I did some research and even so called home fire safes are designed only to protect paper and things like photo negatives would likely still be melted. This is also true for digital media like CDs and flash drives. Off premise storage in a bank vault is a safer option.
Your digital photos are especially vulnerable as your computer could crash or be infected with viruses or malware that could destroy your photos. Online cloud storage is cheap or even free, but copying your important photos to a flash drive that you store in your safety deposit box is cheap insurance too. Note CDs/DVDs are a dying media and backing up your photos to them might give your grand kids or great grand kids a lot of regrets as there may no longer be the computer equipment to access them in 50-100 years. Ditto for those 8mm/super8mm and VHS home movies.
For all intents and purposes, a bank safe deposit box is only good for storing vital documents, such as wills, powers of attorney, trusts, deeds and titles, etc. And *never* have just one person as owner of the box, because if they die, the box will be sealed and be very hard to get into for vital papers.
Next, for paper currency, foreign and domestic, a well built safe, sunk into concrete, with a reinforced concrete lid, is likely the best bet. Figure a 3-4 hour recovery time for anybody. Meaning they will have to insert eye bolts in the lid, lift the lid, then crack the safe right there, instead of taking it with them.
For gold coin, a PVC safe, buried at least 3’ deep, away from some also buried steel waste at 2’, figuring they will dig for the biggest metal detector signature, then give up when they find rusty auto parts.