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View Poll Results: Do you have a Bank Safe Deposit Box?
Yes. It is very important to me/us. 87 34.52%
Yes. Not sure why. 25 9.92%
No. I/we am thinking about getting one. 15 5.95%
No. I/we keep the valuables and important documents in other places. 125 49.60%
Voters: 252. You may not vote on this poll

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Old 12-12-2020, 11:41 AM   #41
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DGF and I have maintained a safety deposit box for the past 20 years mainly for my house deed, car titles and other hard to replace documents. I have had to replace marriage/divorce decrees previously due to a robbery and it was a complete pain as it involved multiple states due to many relocations. DGF keeps some articles from her parents that she can't part with as well.
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Old 12-12-2020, 02:34 PM   #42
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We have a fireproof safe for vital documents and coins.
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Old 12-12-2020, 06:55 PM   #43
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We keep titles, passports, birth certificates, ss cards, etc. in our box. We also keep a Death Letter in there that contains info on what assets we have, where they are located, etc.

We made one of our sons an owner on the box with us so he will be able to access it should we both die.
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Old 12-12-2020, 07:01 PM   #44
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As a top tier BofA customer I get free anywhere ATM's and a free safe deposit box.

I've used the free ATM (actually charged and charge credited) but the box is still empty.
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Old 12-12-2020, 07:08 PM   #45
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We got one after two of my mom's safes got broken into. They were in a storage unit, and someone broke into the unit, then into both safes. They bashed into the bottom of the smaller safe and used a sawzall to cut into the side of the large gun safe after trying to get in by sawing through the bolts.

We'd been keeping our important stuff plus some firearms in a big gun safe at home, but moved the most important papers and valuables into a safe deposit box.

Next move is to get a simple motion detector/camera system that sends text alerts to watch over the safe when we're gone for more than a few days. DH is also reducing his firearm collection. It was very unsettling to see how easily someone broke into mom's gun safe.
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Old 12-12-2020, 07:10 PM   #46
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DH's mom passed away in March, 2020. DH and his sister had POA already on file with the bank. However, they could not access their mom's safe deposit box because her bank was closed to all on-site activities due to cov-id19. We tried to make an appointment to have 1 person go in and either access or clean out the contents of the box. Our requests were denied for several months.
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Old 12-12-2020, 07:18 PM   #47
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DH's mom passed away in March, 2020. DH and his sister had POA already on file with the bank. However, they could not access their mom's safe deposit box because her bank was closed to all on-site activities due to cov-id19. We tried to make an appointment to have 1 person go in and either access or clean out the contents of the box. Our requests were denied for several months.


Our only brink and mortar bank is Bank of America. We considered getting a safe deposit box there. The bank has been closed “temporarily” for a while. I’m glad we didn’t get the box.
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Old 12-12-2020, 07:27 PM   #48
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I’d like to get one but it seems that most bank branches got rid of safe deposit boxes now
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Old 12-12-2020, 08:19 PM   #49
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We store jewelry, important documents, and encrypted USB drive with instructions to decrypt the content in the safety deposit box. Not sure why bother to encrypt the content at all.
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Old 12-12-2020, 08:37 PM   #50
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I’d like to get one but it seems that most bank branches got rid of safe deposit boxes now

This is what's making me nervous. Are there other venues or types of businesses that rent that kind of secure space?
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Old 12-12-2020, 09:13 PM   #51
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We don't have one, but we should. Primary concern is digital assets that aren't backed up off-site.
Which is why we have one (well, two). Off-site backups. DH has thousands and thousands of large digital image files.
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Old 12-12-2020, 09:16 PM   #52
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This is what's making me nervous. Are there other venues or types of businesses that rent that kind of secure space?

Our attorney has put our will, trust, POAs into a secure cloud location. They also have originals of each document. I’m uploading copies of original birth, wedding and death certificates to the site along with my own digital copies on my computer and Carbonite backup. Deeds and DD214 also. If a fire destroys our safe I think the documents can be found. It doesn’t seem a safe or safety deposit box alone is a good option by itself.
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Old 12-12-2020, 10:37 PM   #53
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This is what's making me nervous. Are there other venues or types of businesses that rent that kind of secure space?
the branch where we had been banking and had our box since 1988 recently closed. we were offered a box at the next closest branch but it was a lobby box...not a box in a secure vault. lobby boxes are single keyed boxes. lots of banks in our area but not so many with traditional vault boxes and those that did has no empties. so we transfered to the next closest branch and a lobby box. no charge for the first year and then the rent reverts to what we were paying for the vault box...$30 p/y.
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Old 12-12-2020, 11:54 PM   #54
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We store jewelry, important documents, and encrypted USB drive with instructions to decrypt the content in the safety deposit box. Not sure why bother to encrypt the content at all.
Best to have it encrypted.
I know of a bank that was broken into over a weekend, and all the safety deposit boxes were pried open.
While the thieves were interested in cash, gold, and jewels, you never know if they would just take everything and sort it out later.

Unlike an account at a bank, safe deposit boxes are not federally insured.
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Old 12-13-2020, 05:05 AM   #55
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I have both a bank safe deposit box and a fire safe at home. All critical papers are at the Bank box. Many years ago I sold my car, could not find the title. After the hassle of getting a replacement title, then and there I saw the value of a Safe deposit box. Now we know where any important papers are. For a whopping $50 a year or so, well worth it to me.
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Old 12-13-2020, 07:24 AM   #56
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I have a significant amount of valuable handed down jewelry going back a couple of generations. It’s not the kind of stuff I’d wear everyday, but I do wear a piece or two when I go to a wedding. (which before Covid was about 3 times a year).

My grandmother was given coins when she babysat around 100 years ago and I’ve been told they’re very valuable.

My great grandfather (mid-late 1800’s) brought with him from Europe when he immigrated binoculars which also has deep sentimental value to our family.

I keep the deed to our home and bonds in there too.

Bank is local. Even during Covid all you have to do is call and they let you in by appointment. They were never closed.

I wouldn’t risk these items being stolen.
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Old 12-13-2020, 07:38 AM   #57
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Thanks for all the interesting responses so far. The banks being closed during Covid and not being able to access the Safe Deposit Box is rather unfortunate. I don't think anyone could have foreseen that happening a year or more ago. Perhaps that is a good note to self about the future. I do have concerns about being able to access a Bank Safety Deposit Box upon the death of the owner. Even with a co-signer on file, I believe that the only document or item that can be actually retrieved from the box is the Will and then, only to be presented to the courts. That regulation may vary by state. That alone has driven our decision to having a home safe.

As more and more B&M banks are eliminating the SDB's I wonder how much longer they will not be available at all.
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Old 12-13-2020, 12:02 PM   #58
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Thanks for all the interesting responses so far. The banks being closed during Covid and not being able to access the Safe Deposit Box is rather unfortunate. I don't think anyone could have foreseen that happening a year or more ago. Perhaps that is a good note to self about the future. I do have concerns about being able to access a Bank Safety Deposit Box upon the death of the owner. Even with a co-signer on file, I believe that the only document or item that can be actually retrieved from the box is the Will and then, only to be presented to the courts. That regulation may vary by state. That alone has driven our decision to having a home safe.

As more and more B&M banks are eliminating the SDB's I wonder how much longer they will not be available at all.
I was co-signer on the box (or POA), either way I was able to access the box before her death.
When my Mother died, I went to the bank, opened the box, emptied it, and put it back.
Next week I notified them she died.
No way I was going to be locked out of the box, which contained her Will , etc.
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Old 12-13-2020, 12:03 PM   #59
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I have a significant amount of valuable handed down jewelry going back a couple of generations. It’s not the kind of stuff I’d wear everyday, but I do wear a piece or two when I go to a wedding. (which before Covid was about 3 times a year).

My grandmother was given coins when she babysat around 100 years ago and I’ve been told they’re very valuable.

My great grandfather (mid-late 1800’s) brought with him from Europe when he immigrated binoculars which also has deep sentimental value to our family.

I keep the deed to our home and bonds in there too.

Bank is local. Even during Covid all you have to do is call and they let you in by appointment. They were never closed.

I wouldn’t risk these items being stolen.
Bank safety deposit boxes aren't insured and are not necessarily all that secure. We have one still, but we are considering a fireproof box at home for documents and cloud backup for photos. The following is a good article from NYT last year.

https://www.nytimes.com/2019/07/19/b...box-theft.html
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Old 12-13-2020, 12:05 PM   #60
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I have a significant amount of valuable handed down jewelry going back a couple of generations. It’s not the kind of stuff I’d wear everyday, but I do wear a piece or two when I go to a wedding. (which before Covid was about 3 times a year).

My grandmother was given coins when she babysat around 100 years ago and I’ve been told they’re very valuable.

My great grandfather (mid-late 1800’s) brought with him from Europe when he immigrated binoculars which also has deep sentimental value to our family.

I keep the deed to our home and bonds in there too.

Bank is local. Even during Covid all you have to do is call and they let you in by appointment. They were never closed.

I wouldn’t risk these items being stolen.
Banks are not totally secure either, so take photos of the stuff in the box, and understand if the bank is robbed, you will have to sue the bank for any hope of getting some payment.

I do think the box is great for paperwork, and encrypted backups, but still a risk for jewels, and (IMHO) stupid for cash.
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