Trauma at the safe deposit box!

[jtryka]

Ok, nothing happened like damage or destruction or anything similar, but I did get a notice yesterday from the bank that holds two of my boxes back in Illinois in my home town. I've had these boxes since the mid 1980s, and I deliberately got them at a bank that was the only one in town to survive the depression, and one where my family has been banking for more than half a century. Well, welcome to the 21st century, and this small private bank has been acquired by a larger bank out of Chicago. No big deal, except they are closing the main bank (where the boxes are) and consolidating it with the branch 1/4 mile up the street. So what happens to my boxes you ask? Well here is what the bank said:

 

"You'll be receiving a letter detailing the branch consolidation and the deposit box move, but the bottom line is, you don't need to worry about anything - we'll take care of moving your safe deposit box as is and its contents."

 

What?!?!? Now I am having nightmares about the smiling tellers at the new bank handing out BU Morgans in change due to a mix-up in the move of the boxes! How are they going to do this? How can I be sure they don't drop my box and damage coins, or spill everything over the floor with every other box? I haven't decided what to do yet. My uncle also has boxes there and I may get him to remove the contents before the move and then put them back afterwards. But that's a pretty heacy task, and he is getting older. Anyone ever have this happen to them? Any thoughts or suggestions?

[msmhappy]

damn!!! I'm allmost shaking right now thinking about it!!

 

do whatever you can to get your boxes!!!!!!!!!

 

let us know what happened!!

 

mike

 

dont forget! collect proof sets!!!!!!

[nwcs]

I'd call them up and ask them what insurance they are providing that the contents will not be damaged and then get the name, number, and carrier of that insurance. Then ask for specific details on the move. They should have those well thought out and printed up since they are taking an incredible risk by doing this. Then probably do what you're already thinking: take the coins out before the move.

[truthteller]

Keep a lookout on ebay after the move. Your stuff might show up there first.

 

 

If the boxes are the old style from the 40's, the complete box units are very large and take quite a bit of effort to move. So long as your personal box is not on the edge or a corner, I wouldn't worry. The modern safe deposit boxes come in smaller units of maybe 50-60 and are easier to move and have no problems. I have know on two occasions where the boxes of my bank were moved and the results were OK.

 

TRUTH

[jtryka]

Moving boxes within the bank aren't a big concern for me, but this is a move up from the vault, out the door and down the street, then in the door and back down into a new vault. So much can go wrong! Good suggestions though, and I will look into it as the time approaches. I may actually go out there this summer and move everything out here, but this move is scheduled for mid-May, and I just don't have the time to go back out for this!

 

PS-One box is in the old section of the vault, which I think dates from the 1960s and the other is in the newer section, late 1980s.

[Wihlborg]

Truth,

 

Keep a lookout on ebay after the move. Your stuff might show up there first.

 

LOTFLMAO!

 

Sorry Jeff!

[DonHeath]

Man, I hope it isn't raining the day they make the move.

[michael]

they move sections of the boxes with out ever having to remove the individual indibe box or its contents with a key

 

the lock stays locked and they are moved in sections like cabinets without opening the cabinet

 

kind of like having a honeycomb of a hive with individual boxes being the individual combs they move sections without having to touch or go into or violate the individual combs

 

legally they just cant open a lockbox and just move the box inside the box without your express permission and then only when they cant locate you for a few years or you die and then the state and your attroney goes into it

 

if you are concerned then just tell them not to move it and ask them when is the last day you can enter the box and go and get the contents yourself personally on or before the last day and walk it over to the new location!

 

 

such is having riches

as one person once told me riches are thorns

 

good luck with it and let me know what you do!

 

sincerely michael

[Beijim]

The concept of this is a little mind boggling, as it seems to fly in the face of the definition of "safety deposit box." However, as others have observed, this doesn't seem to be completely unheard of, and it sounds as though the move is accomplished en masse, as it were.

 

I must admit, however, that that notion of a multi-ton block of safety deposit boxes crashing to the ground because Tiny mismanaged the forklift is no more reassuring to me than the idea of someone dropping my specific box.

 

Best of luck with the move. I'm sure everything will be fine.

 

Beijim

 

[goose3]

This wouldn't happen to be National City Bank would it????

 

I got nearly the same letter today about my local branch!!!!!!!!! but my letter said that SDB holders will recieve another letter with more details soon..............

 

 

If the letter says something like yours when it comes, I will be making a trip to the old bank. Fortunately It is less than 1 mile from me.

 

Good luck!

[clw54]

I had a safety deposit box in a bank that moved across the street. No problems whatsoever. They moved the entire wall of boxes.

[satootoko]

I worked at a bank that acquired a lot of smaller ones, and moved vaults on at least a dozen occasions during my tenure, without any problems that I heard of. If there had been any problems with dropping boxes, etc., I can guarantee that I would have known about them, as risk management (obtaining insurance and taking steps to limit the number of claims) was either my responsibility, or the responsibility of my closest friend in the legal department during the whole time.

[Bob Flaminio]

I had my safe box moved once. No problems at all.

 

The alternative would be to go the bank, remove the contents, let them move the empty box, and then go back and refill it. To my way of thinking, your items are probably in more danger that way than just letting the bank do it.