Safe box in Singapore and elsewhere, safe deposit boxes are considered a “legacy service”; many new bank branches do not bother to install any. In the 20th century, bank branches were more prestigious; in the 21st century, space has grown more valuable with higher land values and rents, and many banks see the service as ancillary to their core business. Additionally, despite the public perception of safe deposit boxes as being extremely secure, there is little incentive for banks to actually ensure this is true; there are no federal laws in the US governing the matter or rules that would require compensation to customers if property stored there is stolen or destroyed.
A safe deposit box, also known as a vault, is a separately protected container that is usually stored in a larger vault or bank vault. Lockers are usually found at banks, post offices and other institutions. Lockers are jewellery, precious metals, currencies, securities, luxury goods, important documents (wills, ownership certificates, birth certificates, etc.) or computers that need to be protected from theft, fire, flood, tampering, or tampering. Designed to store valuable property such as data. Other dangers. In the United States, neither banks nor FDICs insure their content. Individuals can take out individual insurance for lockers. Theft, fire, flood, or terrorist attack.
Hotels, resorts, and cruise ships sometimes also offer safe deposit boxes or small safes to their patrons, for temporary use during their stay. These facilities may be located behind the reception desk, or securely anchored within private guest rooms for privacy.
The contents of safe deposit boxes may be seized under the legal theory of abandoned property. They also may be searched and seized by the order of a court through the issuance of search warrant. Read more…