Just rcvd notice in the mail today that the bank branch we have been using for 21 years - through 3 name changes - is closing. I rarely go into the branch - use mobile banking for most needs - but we do have a safe deposit box there. So - our choices are to open a safe deposit box at another branch - or switch to some type of fireproof home safe. We don’t have much in it - deed to our house, passports, auto titles - that type of stuff. I rarely take items in or out - so having a box at a branch a little further away is not a big deal - but it does cost $60/year (estimate from memory) - has it been worth $1000+ over the past 21 years?
I guess it’s a concern of both fire and theft. I’m sure one can purchase a small fireproof safe - but is that the best idea?
Definitely not obsolete. If you need one, you need one.
I agree that passports and other documents like car titles can be kept in a home safe because those document can be replaced fairly easily if stolen or destroyed. What should be in safe deposit boxes are things that can’t be replaced.
just for safe keeping- always done this- we both work and sometimes people are in the house for repairs when we are not home. no temptations. we also have birth certificates and copy of our wills and car titles at home. talking small safe. safe deposit box is more important irreplaceable items.
We like having a safety deposit box rather than a safe. The bank has a lot better protection than our home and insurance. We store good jewelry there, if it’s not being worn. It gives us peace of mind. We have some other things in there as well–titles for cars and other odds and ends. I like having my box at the supermarket because they are open on weekends, in case I’d like to wear jewelry on weekends.
I write so few checks now and I am online all the time, I would know right away if a check is cashed without my knowledge. I really don’t remember the last time I used a check.
I just opened one, overdue for years. Gave the means to open it to one offspring in the event of my death. I am hoping to move in the next year, and have a lot of people in and out of my house. Keeping my little bit of valuable jewelry and papers in there, seemed a wise move.
FYI - if you don’t write many checks, make sure to update your signature at the bank periodically. Thank dog I wrote a couple of checks before coming to the bank for a cashiers check! They simply looked up the cancelled checks. Otherwise, I would have had to go home to grab my passport as the second form of photo id.
Sounds like another safe deposit box is the way to go - DH was pretty adamant too. Should be interesting to clean out the old one - I have no idea of some of what is in there! Bit of a time capsule.
I take all my good or sentimental jewelry there when I am going away. Have a small safe at home too for between trips to keep birth certs etc. Ideally the birth certs are at the bank. Its way too hard to get a replacement one these days (on short notice)
I’ve never had a safe deposit box. We just keep everything in a fire proof safe at home. All your basic documents can be replaced easily, though I’ll admit it would be a hassle. I just can’t imagine having to run to a safe deposit box every time I needed something.
