Are Bank Safe Deposit Boxes Safe? No

Got a lot of email when I suggested that safe deposit boxes are not safe from bank or government intrusion.

In most minds the “safe deposit box” is the “holy grail.” Our comfort will always be OK as long as our safe deposit box remains safe from others ill intent.
Noticed the last few years how the Swiss Banks are no longer confidential places for one to store anything of value? The US government has applied pressure on Switzerland to make available Swiss bank records at any time requested by the US Government.

And in light of these facts you have the foolishness to believe your humble safe deposit box at the local corner bank is safe? Give me a break. Why is it that US citizens always seem to be behind the times when assimilating current information?
Well, I can understand this if the only news one watches is Brian Williams or Katie Couric. I feel informed already. Want to hear a sample of Ms. Courics world wide exposing articles seen and heard across the world?

That's interesting.

When my dad dies over 20 years ago, my mom made the mistake of saying something to the bank people when she went to go into the safe deposit box for some papers. They told her that since he had died, someone would have to have a look in the box while she was there before she removed any contents.

Looking for something illegal, or just a stash of jewelry or money for them to ~~confiscate~~ tax, or something like that.

When my mom got sick just before she died, we learned that lesson and my sister, who jointly held the box, opened a new one and a new bank account and transferred everything from the box and almost all the money from the account into new ones jointly held with my other sister. That way, we still had access to what we needed and kept the government out of it as much as possible.

I've been after mr. mm to look into a fire and waterproof safe for the home. I know it'll be an expense, but it will pay for itself in a few years without a safe deposit box fee every year.

Get a good, fire-proof, home safe. Hard to trust anyone other than yourself and your family these days. I hate that I have to type that and I miss the U.S. that I knew as a younger person.

yes, it is sad. I personally am using 2 safety deposit boxes at local credit unions as a supplement to 2 gun safes. Even fireproof safes are only good for a set amount of time. And with a home invasion robbery, thought I'd want some assets spread around.

As you said, it's sad to have to think this way.

Yes, get a safe and make it a good one — large enough to be really really tough to move — not those little cubes many folks have in their homes. Local police laugh about those —

Get a sturdy large safe — you’ll sleep better.

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