Unless you know the branch manager or president of the bank, you don't access your SDB. The bank is closed during a bank holiday. If you see the Euro banks collapsing, it is time to rethink your SDB. A lot of our banks are state chartered and they may not be affected by the federal laws, but I will need to research that issue.
I reckon if a bank manager or president's bank was in lock down, the last thing on his list of priorities would be letting friends and aquaintances in to get their belongings. By the time we'd find out the bank was closed they'd either already be swinging by a rope from the rafters or on the plane out of the country with their own savings. For Instance, just last week, Moody's announced the 'Bank of Queensland' was under review and set for a ratings downgrade, yet just hours earlier, they were still spruiking about how rosy the future was for the rapidly expanding bank !!! Anyone remember the line up of people outside Pyramid Building Society?...it wasn't that long ago!
maybe your heading should have read "Safety Deposit box - in banks or should I gps my stash" because my reply would be GPS it
If I couldn't keep it on my property I'd definitely GPS it before trusting it to a bank. Go out into the bush where nobody goes and find yourself a big tree all by itself, bury your loot and mark the coordinates. Make sure your heirs know the spot, etc. And don't forget if they ever change GPS to some other system, to make a note of it
I haven't seen local version, but the good idea is in the concept and further imagination for the handyman.
I am fairly sure that NAB branches can offer safe custody in their vaults for $65 YEAR. I think you need to be a customer for that. You supply a box about a shoebox size. They do not want to know what is in it and you must insure it yourself.
That's not a true safe deposit box - there's no way I would entrust PMs to a box that is just placed into a vault. Find a branch that does proper individual locked safe deposit with two keys in a drawer in the wall.
First and foremost you must ensure that the bank you choose has insurance on the box itself, there have been several cases in Denmark where there have been broken into the boxes where the bank has disclaimed no liability or guarantee for the contents of the box. those who had rent the boxes had to deal with their own insurance company to get compensation. Just a thought from Denmark Henrik
I keep mine at a trusted friend's property. Impossible to find unless you want to spend a week looking for it. Be creative.
This^^ you can also put your own personal lock on most of these boxes too, prior to sliding it into the slot
