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View Full Version : How safe is a safe at your local bank?


the count
10-16-2008, 08:54 AM
question to any bank executive forum members:

lets say i have a safe at bank xyz with gold, cash and whatever. what happens if and when there is a run on the bank, or simple collapse. is access to the safe always guaranteed? will the deposit boxes be confiscated? any real facts as to what happens?
Bruno
10-16-2008, 08:58 AM
It's only safe from private bank robbers, not from government bank robbers.

http://www.ronpaulforums.com/showthread.php?t=163388

http://www.ronpaulforums.com/showthread.php?t=163387
hillertexas
10-16-2008, 10:23 AM
I think it is actually illegal to store cash in the safe deposit box...you sign something when you get it that says you won't keep certain things in it. I am not 100% sure though. So I'm guessing that if they find out you have xyz in the box and you agreed in writing to not have in it in there, they could possibly confiscate it.

Any experts on this?
Matt Collins
10-16-2008, 08:15 PM
I think it is actually illegal to store cash in the safe deposit box...And why would you want to for the long term anyway? It will do nothing but devalue.
John of Des Moines
10-16-2008, 09:05 PM
I think it is actually illegal to store cash in the safe deposit box...you sign something when you get it that says you won't keep certain things in it. I am not 100% sure though. So I'm guessing that if they find out you have xyz in the box and you agreed in writing to not have in it in there, they could possibly confiscate it.

Any experts on this?

Never heard of any limits on what you can put in safety deposit boxes. Well, except for illegal items; illegal drugs, gold and such.
josephadel_3
10-16-2008, 09:32 PM
And why would you want to for the long term anyway? It will do nothing but devalue.

As a student making less than 15K a year, I don't think this applies to me. I've decided to only keep about 50$ in my checking account and cash all my paychecks and store it safely at home. Any interest I'd get in a savings account would be negligible.
Matt Collins
10-18-2008, 12:48 PM
Also see the movie "Bank Job". Pretty good movie http://www.imdb.com/title/tt0200465/