Yes and no... The only valid answer anyone with a law degree and experience could ever give you when dealing with a bank is "you're on your own with anything that could conceivably happen even if it's not in the document you sign".
Otherwise you will never assume the conditions can change without prior notice (none that they can prove anyway, signature on receipt is too cumbersome for the bank it seems), that the risk you're taking comes from the bank, that the bank can drill the safe and take everything inside, or that the bank can take your stuff "by mistake", no notice, and get to keep it. It's common sense. The courts disagree. They see all this as perfectly legal because it is. That's what lobbies buy you.
> Banks typically argue - and courts have in many cases agreed - that customers are bound by the bank’s most-current terms, even if they leased their box years or even decades earlier.
> And the scant protections offered by state laws are often simply ignored
If you want to see how ridiculous it sounds when applied to another industry with slightly shallower pockets imagine this: after paying all your premiums for insurance the insurance company changes the conditions to say "covers 0% of the damage" then steals your car and keeps it.
Otherwise you will never assume the conditions can change without prior notice (none that they can prove anyway, signature on receipt is too cumbersome for the bank it seems), that the risk you're taking comes from the bank, that the bank can drill the safe and take everything inside, or that the bank can take your stuff "by mistake", no notice, and get to keep it. It's common sense. The courts disagree. They see all this as perfectly legal because it is. That's what lobbies buy you.
> Banks typically argue - and courts have in many cases agreed - that customers are bound by the bank’s most-current terms, even if they leased their box years or even decades earlier.
> And the scant protections offered by state laws are often simply ignored
If you want to see how ridiculous it sounds when applied to another industry with slightly shallower pockets imagine this: after paying all your premiums for insurance the insurance company changes the conditions to say "covers 0% of the damage" then steals your car and keeps it.