Safe Deposit Box (A conversation that made me start removing my items)

[AdDicted2Ag]

While waiting in line to dump my dimes today I sparked up a conversation with an older woman (in her 70s-80s). This woman actually lived her entire life in a North Jersey shore town and was telling me about how her town was completely demolished by hurricane Sandy which forced her to move into my area with her daughter. This woman's house was one of many that were completely destroyed and since she had been through many hurricanes before, she only took one suitcase with her when she evacuated the area.. Long story short, she lost EVERYTHING.. The entire house was washed away and she was left with absolutely nothing.. As a back story, I have a lot of problems with FEMA that I will not go into, but as my conversation continued with this woman I was very pleased to hear about all the positive things they did for her. They not only gave her a $1000 dollars, but also offered to cover hotel charges for her for two weeks until she found a permanent residence. When she was telling me about what they did for her, I replied by saying how nice it is to know that FEMA is actually doing some good and truly helping people.. Needless to say, this made her upset and caused her to bring something up that truly astonished me.. She said, that FEMA did something that completely overrides any help they offered her. While she was grateful that they did give her some money and offered to pay for a hotel, FEMA may have taken all of her antique jewelry and collectables that had been accumulated for generations in her family. She told me that when FEMA took control over the town and surrounding areas, all banks and assets were taken as well.. When she went to the bank to remove her collectables from her safe deposit box before she moved, she was denied entry and told to give her phone number, but was also told that "there is no guarantee she will ever be able to get her items back." this was weeks ago and she still has not heard anything. She stated that she has went back to the bank to retrieve her items numerous times and continues to be told the same thing. I could see how upset this woman was and I was completely dumbfounded that this happened to her.. I have been storing some valuables in a safe deposit box for quite some time now and have never once for a second believed that my valuables would ever have the possibility of being taken by the government. After my conversation with this woman today, I made the decision to begin removing my items.. I am well aware, that people on this forum will begin calling this woman a liar and will not believe this story, but I promise you I am not making this up. This woman also did not strike me as some nutjob crazy old lady, but someone who was just demoralized and distraught over how she was treated.. I tried searching online to find some proof of this, but couldn't find anything.. I will say though, that I do believe her.. She had nothing to gain from telling me about this. We were simply having a conversation while waiting to use the coin machine.. She only brought it up after I told her how nice it was to hear that FEMA is doing good things for people.. Either way, I figured I would post this in the forum as a warning and perhaps a wake up call to people.. Obviously you should do as you wish with your valuables and I know most people will not change anything after hearing about this, but after today my mind has certainly been changed. I will no longer be trusting my valuables in a safe deposit box.. Just something for you all to think about.. Happy Hunting everyone...

 

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[maipenrai]

How many home safes, or hiding places have been robbed, and how many safe deposit boxes have been robbed? I kinda think the odds are in the banks favor of not getting robbed. Of course, someone may think they can hide money better and safer than the bank. At least if the valuables are in a safe deposit box, your best friends and family cannot get into them, which may often be the case. And there is always Junior, that tells his friends at school, how daddy has such a cool safe.

 

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[sjlund]

Ryan, my understanding is that the FDIC has been broke for almost 3 years now. Of course, safe deposit boxes are not insured.

They have never been insured, lest of all by the FDIC, as they are not a deposit account.

 

[dejapooh]

I work at a bank, and for a time worked in the safe deposit box area - I can tell you, without any doubt, we did not have a "master key" for any of the boxes. If a customer lost a key we hired a locksmith to come in and drill out the lock.

Even more reason getting your stuff after a flood without your key would be difficult at best.