
Banks can accidentally lose safe deposit boxes - baobabKoodaa
https://www.bloomberg.com/opinion/articles/2019-07-22/don-t-put-your-valuables-in-the-bank
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matthewcy
What is the solution for this? My personal use is items that should be locked
and protected, and I don't really have a place in my house to bolt a
fireproof/waterproof safe. Bank safety deposits also have downsides in case of
death.

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jiveturkey
> What is the solution for this?

1\. Buy private safe deposit box insurance. I won't link it to avoid
impropriety, but easily found via Google.

2\. Have joint ownership, so that death isn't an issue.

3\. Keep all your items in a dry bag if the bank is in a flood-prone area.

4\. Assess the probability of the bank emptying your box (nearly zero) vs a
safe in your house being stolen.

5\. Digitally scan irreplaceable original documents, so you at least have a
copy.

6\. Print out a high quality document with a fake letterhead of your favorite
3-letter agency, informing the opener that they are committing a federal crime
and will be personally liable. Maybe claim that the bag (See #3) is a
diplomatic pouch and opening it is an international incident. Or other stern
warning. Print a phone number on it to call immediately. Also put a fake gun
in the box to give an air of danger. YMMV.

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woodandsteel
Modified #6: a notice that opening the box has sent a signal to a safe deposit
box monitoring company. Maybe include a device that starts buzzing as soon as
the box is opened.

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woodandsteel
Further idea: to stop the device from buzzing you have to enter a code.

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matthewcy
oooh, prepaid phone + raspberry pi with battery charger (so you don't have to
go to the bank every few days) that sends email when light detected

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woodandsteel
That should work.

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basch
they made it the whole article without calling it a SAFETY deposit box. my
father would be thrilled.

(its a safe deposit box, not a safety deposit box)

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sgent
Vaults containing boxes can also flood (see Katrina).

