Skip to comments.Chase Bank new policy on Safe Boxes -- Beware!
Posted on 04/08/2015 2:09:58 PM PDT by Migraine
I received a letter this past week from Chase because I was a safe-deposit-box customer. It was heavy handed and startling. Some of the terms included that lessee agrees not to have more than $25K worth in there (what's that? half of a good diamond?), that you can't have cash or coins in there (right away I thought Krugerrands, etc), and that the bank can restrict access to the box for any reason, or for no reason (unexpected circumstances, natural or manmade -- the sky is the limit). The contents are not protected against loss or damage. Oh, and they are raising the rent. I promptly went down and withdrew all my money, emptied the box of my meager possessions, and closed the accounts.
1) TAKE EVERYTHING OF REAL VALUE OUT
2) KEEP THE BOX UNTIL IT EXPIRES (SO AS NOT TO ALERT ANYONE)
3)LEAVE CHASE, THEY SUCK ANYWAY.
Cutting expenses in one area and raising more in another?
You acted wisely, Migraine. Try to locate a good, local (or regional) bank or S&L with a good track record. Stay away from Chase, BOA, and other globalist concerns.
Looks that to me.
I mean, it’s not like you put two meth crazed NYC rats in a safety deposit box over the week-end because house guests.
FDIC doesn’t cover those kinda of losses. Like to broke my heart.
TDbank sent me similar letter last year. I think this is a federal policy.
(The banks pay nothing on your accounts anyway.)
"Bank" at home. It's safer in the long run.
I only keep monthly operating expenses in the bank, the rest is outside the control loop.
Some morning we will all wake up to the news that banks are closed due to XXXXX emergency, and when they re-open, access to "your" money will be severely restricted.
I bet it means they are not going to insure anything over $25K so if you happen to open your box and had s100K in cash in it they just stole $75K from you. There will be a nice little redistribution note from FedGov saying they appreciate the “contribution” to the newly created “new citizens indigent fund” for illegal alien children. You will get a tax deduction of course...
Time to take a trip to Switzerland.
Thanks, stevenjohn — that’s what I did. It was a 6-page letter. I bet they hoped no one would read it.
Don’t forget credit unions! I switched to one years ago and would never go back - free checking, free atm, and interest on all accounts.
Yes, Pro, I think they’re all shuffling to try and dodge Dodd-Frank restrictions by finding other areas to bleed paying customers.
Being good little liberals, they believe that what’s theirs is theirs and what’s yours is theirs.
I haven’t gotten that letter yet.
Chase? Isn’t that the Rockefellers?
Yup find one with boxes.Mine in Ft Laud had one.There out there.....
got a box??
Thanks. I’ve got a fireproof gun safe, so I will get a little portable fire proof Sentry box, put what few valuables I have in that, and insert it in the bigger safe, gaining double-fireproofing.
Probably a better idea anyway.
Agree! Agree! Agree!
“Dont forget credit unions!”
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