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The Importance Of A Safe Deposit Box.

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rggoodie's Avatar
United States
23550 Posts
 Posted 12/22/2009  8:45 pm  Show Profile   Bookmark this reply Add rggoodie to your friends list Get a Link to this Reply
Story time boys and girls...

I know the value of a safe deposit box. I have one at a local bank.

I have an account at another local bank who shall remain nameless but their initials are Wachovia.

Anyway once upon a time the bank manager told me I was entitled to a free safe deposit box. How nice - but none was available.

Two weeks ago I was in said bank and happened to mention to the manager that I was still interested in a safe deposit box. I was told that there was still a waiting list but if I would wait a moment they would check to see if anything was available.

What do you know one was vacated yesterday and since I was standing there I was entitled to it free!


I was given the key and taken to the safe deposit box to check if my key worked.


I opened the box an looked inside and what did I find - a slabbed MS 63 1953 Franklin half dollar.


Being me, I told the manager and they said they would notify the previous owner.


But wait there is more -

Two days later I received a bill in the mail from the bank telling me I owed them rent on the safe deposit box for the year and they would be deducting it from my account.

I called the bank and told the manager that if I was being charged the fee for the box - they could have it back.

I was asked to come in to discuss the matter rather than closing the box over the phone.

The next day I show up at the bank and get great service - I only had to wait 57 minutes to see a manager.

They go into the computer and find out that the reason I am being charged is because according to their records, I already have a safe deposit box there.

Wrong oh breath of the unwise.

Upon further investigation (a total of one and half hours - they find that someone else was issued a safe deposit box and it was linked to my account.

It turns out I did not have another box (which I knew from the beginning)and the person who had the box and the box only linked to my account was getting the box free since 1991.

The bank decided they were going to back bill him.
I would like to see the expression on his face when he gets a bill for 18 years back rent on a safety deposit box.

I now have my box and it is free but the ride to get there.
PRICELE$$


did I use enough smilies in this post?
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vermontensium's Avatar
United States
16679 Posts
 Posted 12/23/2009  10:04 am  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply

Quote:
did I use enough smilies in this post?


I'm glad that finally worked out for you. I live in Los Angeles County where you can't drive five feet without slamming on your brakes, or get out of your car without someone being right there asking you for money. Having said that, I am very fortunate to live in a smaller community and my SDB is at a very small bank with maximum security in place. This bank was robbed once but, the suspect was caught while exiting the bank. He was trapped in their bullet proof chamber while exiting. It locks you in until the police arrive
swcoin.ecrater.com
Bedrock of the Community
United States
20753 Posts
 Posted 12/24/2009  09:58 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
This thread makes me smile, I have the best of both worlds. I work at the bank where I have 3 SDBs. I am also in the process of making a digital record of all the valuable coins so I can "see" them whenever I want from the comfort of my office chair. I agree with DAN505, I hate thieves. I also must say I like the "get it done" attitude that hhbkiddo shows, just get a jackhammer and fix the problem. I may have to go that route when I retire.


HHHMMMMM. For some reason I never thought of that. I'll go put a complete list of coins and SDB's in each one. Good idea since if anything happens to me my Son and/or his wife can just go get that and read it all.
Bedrock of the Community
United States
20753 Posts
 Posted 12/24/2009  10:10 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:

I now have my box and it is free but the ride to get there.
PRICELE$$

did I use enough smilies in this post?


I really like that one. The thing here is that type of stuff is really becoming common since people just don't have to think anymore. If it's in the computer, it must be so. One wrong digit, wrong letter and you could owe millions or receive millions. In this case all's well that ends well, maybe. Please let us know about the next letter or call you get from that place. Might be even more fun.
As to insuring your coins. I've mentioned this many times. With the computer age everything you tell your insurance agent goes into a computer today. This means that your personal information is now available to as many people in that organization that knows how to use a computer. Be real carefull of what you tell an insurance agent. The people that work there today may not work there tomorrow and have all your personal info.
Edited by just carl
12/24/2009 10:13 am
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Sukardnam's Avatar
United States
103 Posts
 Posted 12/24/2009  11:10 am  Show Profile   Bookmark this reply Add Sukardnam to your friends list Get a Link to this Reply
Odd story for ya about SDB's. I manage a company that recently took over an old Wachovia bank building. When they moved they left 717 SBDs in the vault all locked and with no keys. The owner of the company I work for gave me the glorious job of drilling out and replacing all the locks so we could rent the boxes out. It took quite awhile to drill out all the locks (not because its hard by any means just time consuming). Out of 717 boxes 23 of them had items/paperwork in them... I'm not sure of Wachovias policy towards SBD's but I'll never have one in a bank thats for sure.
My solution to home security is a dummy safe. I have 2 safes the first which is in plain view holding some cheaper coins/jewelry items, and a second well hidden safe which holds the real stuff. The trick to security is never be under the impression that you are 100% safe, because you aren't. Always lock your doors, turn on your alarm, have insurance, and be aware of whats going on around you.
Bedrock of the Community
United States
20753 Posts
 Posted 12/27/2009  10:45 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
My solution to home security is a dummy safe. I have 2 safes the first which is in plain view holding some cheaper coins/jewelry items, and a second well hidden safe which holds the real stuff. The trick to security is never be under the impression that you are 100% safe, because you aren't. Always lock your doors, turn on your alarm, have insurance, and be aware of whats going on around you.


May be a good idea or a bad one. Again, if a criminal is not satisfied with what they find they may force you to simply open the other one. If insured, if you've told friends or relatives, neighbors, etc. the story of you fantastic wealth with two safes may have grown extensively. And a gun to your head or a family members head makes safes open rapidly.
Also, remember that a SDB in almost any bank is fairly fire proofed, humidity proofed, not visible by anyone in your house.
One of my neighbors that was robbed had the entire house stripped. They took a safe that was bolted to the floor and every thing else. They had a security system and it rang somewhere. The security place called and the robbers answered and said all is just an error on their part. Then they took the security system too.
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Sukardnam's Avatar
United States
103 Posts
 Posted 12/27/2009  1:24 pm  Show Profile   Bookmark this reply Add Sukardnam to your friends list Get a Link to this Reply
A gun to one of your family members head will get your SDB open too.
SDB's in vaults are fairly fire proof. Smoke, heat, water and humidity are another matter. Most newer banks do have air conditioning in the vault but most older vaults do not. All in all it comes to personal preference. Just realize that nothing is 100% safe and you yourself need to be on guard and aware.
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livingdinasaur's Avatar
United States
1571 Posts
 Posted 12/28/2009  3:18 pm  Show Profile   Bookmark this reply Add livingdinasaur to your friends list Get a Link to this Reply
We have gotten to the point that we think we are safe, when the SDB's are closed, and only we have the "other key". Not so. You will go with the Crook and open the box, while his/her accomplice waits, with your family! My thought is not let anyone know you have anything of value, to start with. Much less a nice collection.
I have never had a SDB, because I have never had anything of value to put in one!
Looking at it from the crooks point, The last thing I would want to find in a place where I intended taking that which was not mine, would be a dog! people don't like 'barking dogs", and they look to see why it is making a fuss. Everyone knows what his neighbors look like, even if they are not known to each other personally. So the dog barks, and they look, then call the police. Or the crook(s) will be hauled off, (or the barking dog). Usually the crooks. My next door neighbors have no inkling that I collect coins, and they feel at home while visiting our house. Nothing looks "out of keeping with the rest of the furnishings, so no attention drawn to a big safe sitting is sight in one of the rooms. no safe here. Nothing worth a second look. Those of you who know about the others coin collections are of the same thought. Little know, less attraction.
There was a time when one never had to lock the doors. A their could care less about locks. The honest person doesn't worry about a lock, and the thief could care less. The only time I worry, or wonder, when I leave home, is when there are "Newly acquired family members", who learn of the collection, later. They might comment to friends, (who we don't know, and maybe "let the cat out of the bag". In my case, they intruder has to break in, making a lot of noise, then that is only the first door, or window. there are others, and finally the dog. Some are taught to attack an intruder, without making noise. Then you have to "break out, again, making a lot of noise. You can't go back the way you came in, because the neighbors are all watching, and wondering what is all the noise? By then the Cops are there, and the crooks are caught, red-handed. Bottom line: The more you "show", the more the crooks know! If you can't keep a secret, just hand then the key. Less damage that way. And, you lose, either way.
Dick
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eaglefoot's Avatar
United States
6326 Posts
 Posted 12/29/2009  2:01 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
But it's a matter of "likelyhoods" for me.......you are MUCH more likely to be the victim of a quick break-in entry and a few minutes later they're gone. Or in the case of a safe...they'll either take it....or make you open it. But there is a FAR lower chance that they'll be willing to pull off the kind of caper where they make you go down to a SDB at a bank while your family is held hostage......it happens.....but not THAT often !
Thieves will NOT EVEN KNOW about your Safety Deposit Box most likely........ the safe at home is RIGHT THERE !! Obvious as the nose on your face. Or even "hidden"....they can find it and make you open it......
The wrong person hearing about "coins in your house", is what I can avoid with 99% surety. But them breaking in to steal "coins" and after finding none, stealing all the rest of your stuff is another story !
Quick break-ins while you're gone at work or away for the weekend...or even "at home" with a "home invasion".
This is why I'm comfortable with my theory.......it's just a matter of "likelyhoods" for me in my community.
Bedrock of the Community
United States
20753 Posts
 Posted 12/30/2009  10:30 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Thieves will NOT EVEN KNOW about your Safety Deposit Box most likely........ the safe at home is RIGHT THERE ! Obvious as the nose on your face. Or even "hidden"....they can find it and make you open it......

Exactly true.
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