The safe-deposit box era is ending

Yup, the BofA where I had a box recently closed for good and the next closest BofA doesn't even offer them. Like others I just use our home safe now.
 
Hopefully we can always find some bank or credit union that lets us have a safe deposit box for offsite storage of documents and backup drives.
 
We have a safe deposit box at a local bank. Have had it for decades. Not sure what's in it - DW handles it. We could get a home safe if all banks stop providing boxes, but I like the idea of storing things offsite.

I have friends who have home vaults. I would build one if I knew we would be staying in our current home long enough to get a benefit from it. Or if I get to the point that I need at least 30 feet of secure storage.
 
Never have had a SDB... have a medium fireproof safe in the garage.... Would be an easy smash and grab... But would love to see their faces when they finally get it open. Got to store reloading lead someplace......
Have a small fireproof document safe that fits in our large fireproof safe bolted and built into a false closet with a bookshelf as a door.
 
old medic said:
Never have had a SDB... have a medium fireproof safe in the garage.... Would be an easy smash and grab... But would love to see their faces when they finally get it open. Got to store reloading lead someplace......
Have a small fireproof document safe that fits in our large fireproof safe bolted and built into a false closet with a bookshelf as a door.
Click to expand...
Sounds like James Bond stuff...
 
I have had a SDB for almost 20 years because I needed to store my revocable living trust documents in a secure place. I have a copy at home but the estate attorney said the original is the important copy and it must be protected. I looked at a gun safe for the home years ago but they only offer protection up to a certain heat limit and it was only for 30, 60 or 90 minutes depending upon the safe/company. A 1000 pound safe would be hard to steal especially if bolted to a floor or concrete basement floor but the fire issue limit made me think important papers are best stored at a bank. It's just $70 a year.
 
Ronstar said:
We have a safe deposit box at a local bank. Have had it for decades. Not sure what's in it - DW handles it. We could get a home safe if all banks stop providing boxes, but I like the idea of storing things offsite.

I have friends who have home vaults. I would build one if I knew we would be staying in our current home long enough to get a benefit from it. Or if I get to the point that I need at least 30 feet of secure storage.
Click to expand...
Big safes can be moved. (e.g. 1200 lbs) I've moved mine twice. The first time it was a short distance and I had it moved by a safe moving company. The second time it was 150 miles and I moved it myself with the help of some golf balls :), (yes golf balls), my tractor w/fel and my tandem trailer. NOTE: It was a real PIA to move it the second time but I can say I did it myself. Not sure I could do that again by myself. :)
 
Never had a safe deposit box. My parents had one. We have one of those "fireproof" boxes for some important papers, but frankly I don't think it would be a huge loss. Everything is scanned in so I can print a copy when needed. Originals of things like titles and birth certificates would be replaceable, with some effort. Our electronic files are backed up in at least two locations. These days it's rare to need a paper copy of anything.

Most of our photos are digital. There are some photo albums we inherited which we need to go through, but even those will be no more than a curiosity in a few decades.
 
Safes! Bah......I hide the good stuff and my cash in the freezer! (not really, just jesting)
CaptTom said:
Never had a safe deposit box. My parents had one. We have one of those "fireproof" boxes for some important papers, but frankly I don't think it would be a huge loss. Everything is scanned in so I can print a copy when needed. Originals of things like titles and birth certificates would be replaceable, with some effort. Our electronic files are backed up in at least two locations. These days it's rare to need a paper copy of anything.

Most of our photos are digital. There are some photo albums we inherited which we need to go through, but even those will be no more than a curiosity in a few decades.
Click to expand...
Strange as it seems, when I went to renew my driver's license a few months ago, I was asked for my birth certificate (original or certified copy). Strange as it seems, I had it with me. When you get real old, things like this happen.
 
aja8888 said:
Believe it or not, some people actually hide things in their freezers! Yes, cold, hard cash! :)
Click to expand...
Yes, I've seen it done in various movies and that seems to be one of the places thieves always look. (along with under (or inside) the bed mattress)
 
Just like wallets none of my children or my relative children have safe deposit boxes.
 
In our previous house we had a safe that bolted to a shelf in the bedroom closet with special bolts that couldn't be easily removed. I liked that setup- valuables were easily accessible but only if someone knew the combination. It was far more convenient than a SDB that you had to visit during baking hours and required a wait till someone could let you in. I gave the combination to the buyer at closing. She e-mailed me a couple of months later because she'd lost it. I never memorized it. Oops.

I no longer have an account with any of the local brick-and-mortar banks so SDPs aren't even an option for me.
 
Car-Guy said:
Big safes can be moved. (e.g. 1200 lbs) I've moved mine twice. The first time it was a short distance and I had it moved by a safe moving company. The second time it was 150 miles and I moved it myself with the help of some golf balls :), (yes golf balls), my tractor w/fel and my tandem trailer. NOTE: It was a real PIA to move it the second time but I can say I did it myself. Not sure I could do that again by myself. :)
Click to expand...
I think that is how the pyramids were built!
 
HI Bill said:
We keep our safe deposit box for storage of Solid State Drives that hold our photos. Fire safes aren't guaranteed to keep the contents from melting or being flooded or stolen. The box is the only real reason I keep a local checking and savings account at a brick and mortar branch. Last time I was there, they still had binders of signature cards, but were about to switch over to a digital ID system. Keeping ours for the foreseeable future. Cloud storage of 20+TB of data is a bit slow...
Click to expand...
Be aware an SSD will only retain the data for 1-10 years without power. 5 years seems to be the typical retention time unpowered, but I wouldn't count on it. Hard Drives fare a bit better, but I still wouldn't count on more than 5 years. The important thing is to rotate the backups and rewrite the data periodically. I try to rotate mine every month or two.

I only have SSD's in our computers, but I don't need the speed for backups, and Hard Drives are cheaper. So I still use external hard drives for my backups.
 
I put in a floor safe embedded in a concrete and steel womb in a well-concealed area that would not be thought of for a smash and grab team. Nobody except my late brother and his wife even know/knew it is there. Locksmith assured me it would take a backhoe to get it out and a cutting torch to get into it. It is quite secure even if lifted out of the concrete and steel womb. It is well concealed and difficult to see even if you're looking right at with the floor covering removed.

1200# gun safes are heavy and impressive looking but they can be opened by a competent safecracker or locksmith as can my floor safe. The value of my floor safe is nobody knows it is there.
 
Sunset said:
A home safe to keep papers in is great, won't withstand many home fires that destroy a house as the heat will last too long (IMHO).

I was read a story in newspapers decades ago before fake news, where a couple kept their life savings in a safe (stupid of course). Thieves heard of it, and did a home invasion, then beat the couple until they opened the safe and stole all the $$$$$.

If I had a home save for valuables, I'd hide it well and bolt to something. Then I'd have a 2nd safe much more obvious with few $100 in it and other stuff (even old pills), so thieves could steal the decoy or beat me to open the decoy.
Click to expand...
Heh, heh, there IS a third option where you don't lose your savings and you don't get beat up.
 
You must log in or register to reply here.

Similar threads

Lsbcal
RIP: safe deposit box. Alternatives?
2 3 4
CardsFan
C
Sarah in SC
Before you take that long dirt nap
Taxman59
Taxman59
P
Safe Deposit Boxes - not so safe?
2
timo2
timo2
SumDay
Safe deposit box
calmloki
calmloki
kyounge1956
Anybody got a home safe?
2 3
devans0
D

Latest posts

Back
Top Bottom