Safety Deposit Box

[Goldhooked]

Is this of concern to those with Metro bank safety deposits...?

https://www.bbc.co.uk/news/business-47609539

[terakris]

I'd be surprised if all of a sudden the branches all closed and you couldn't get access. Even if they did, you would be able to get in at some point. Same as if you have savings, a mortgage etc... world still needs to go round.

I guess any safe deposit box company could go under and you would have similar problems.

[TheGoldSovereign]

On 20/02/2019 at 10:25, Paul said:

The smallest safe deposit box is perfect for gold, I pay £150 per year / £12.50 a month /  £2.88 a week

I store my gold, passport, crypto wallets, emergency rainy day UK cash, mixed foreign cash, USB sticks of personal details/photographs

Using a safe deposit for silver is not viable, too heavy, too bulky

 

Just playing devils advocate, great until somebody has a reason to seize it , or don't have a reason to seize it but they do anyway, or the company goes bust and they liquidate your box!

I think the best advice would always be to spread your risk.

[EdNug]

On 18/02/2019 at 20:18, Caratacus said:

Happened to note a few posts with a reference to Safety Deposit Box's, not that I need one currently but looking v.long term  wondered at what point you chaps advised moving from silver in the cupboard, to a home safe and then a Safety Deposit Box? Please!!

Mentioned it to my local bank and the smart Customer Assistant had no idea what I was talking about. Apparently they stopped having them years ago. Where do you chaps find one?

Sorry if this has been a well chewed subject-I did a Topic search

A cautionary story: my parents stashed a couple of Krugerands in a safety deposit box in the bank that my mother worked in. (Nat West, mid 70s)  A few years later (early 80s) they asked for access to their box and the Krugerands were gone. With a bit of kicking off and because she knew the system and the staff Mum managed to get two Krugs returned but those boxes are not as safe as advertised.

[caloundracats]

Not a recommendation for safety deposit boxes in any bank! Glad your mum got the Krugs back. Wonder if they every found who 'borrowed' them? If so, what happened to them?

I mean, safety deposit boxes being robbed by staff???