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Bank Safe Lock Boxes

Discussion in 'General Investing Discussion' started by DaveA, 13th Nov, 2007.

  1. DaveA

    DaveA Well-Known Member

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    Just wondering, Does anyone have one of these at all?

    I know their a little bit old fashioned now but i think their purpose is still valid.

    I tried googling it but could see any in sydney. But does anyone have a rough cost which one would set you back?

    Cheers
     
  2. Billv

    Billv Getting there

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    Hi Dave
    They should still be available but I wouldn't think that the local branch will have them.
    Did you come across some gold? :)
    Cheers
     
  3. islandgirl

    islandgirl Well-Known Member

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    Dave
    Your wife will find it no matter where you hide it ;)
     
  4. Billv

    Billv Getting there

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    Dave,

    All banks will have them but I am guessing that they will not be available at all branches.
    If you go to the Westpac URL below, and select a search for Branch, tick safe deposit box, and then type in a postcode, it will show you the closest branches with safe deposit boxes.

    The price will depend on the size you want so call up customer service and they will tell you the cost.
    Also check availability because in some branches there could be a waiting list.

    Westpac Locate Us

    If you just want to keep your passport an other important documents safe
    you can also get one small fireproof safe and have it built into the wall or floor cavity of your PPOR.

    Cheers
     
  5. DaveA

    DaveA Well-Known Member

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    thanks BV

    ill probably be looking for one in the city (sydney) so ill give them a call...

    Nah nothing special... just for documents as i have a tendancy of loosing the originals and with trust deeds etc im just thinking about my options...
     
  6. bundy1964

    bundy1964 Well-Known Member

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    They reomend that you don't put your will in one though as it may never surface if needed given the lock down rules.
     
  7. handyandy

    handyandy Well-Known Member

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    Dave

    The cba charges about $50 pa for a safety deposit box about the size of a petty cash tin.

    As has been mentioned the problem is finding a branch that not only has them but also has some space available.

    Cheers
     
  8. DaveA

    DaveA Well-Known Member

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    Thanks for your tips guys.

    $60 establishment fee, 12 free access py, after that $12 per access

    CBA price (at martin place) is as follows
    Size Height x Width X Length
    5x13x50 =100pa
    9x13x50 = 139pa
    14x13x50 = 139pa
    7x25x50 (A4 size) =139pa
    14x25x50 = 234pa
    23x27x50 = 285pa

    they only have the top one, and there is a 6-12 month wait for a4 sizes

    Westpac only had one size available and wouldnt quote me the rest

    7x14x50= 225 per year unlimited access
     
  9. Elkam

    Elkam Member

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    Hello Dave

    A safety deposit box is a good idea for some things (I have one) but things like trust deed documents, wills, titles for property etc. may best be kept with your solicitor who should have a safety deposit facility somewhere. This way if something happens all important documents are together and accessable. You're better off just keeping copies for yourself.

    That's what I do and my solicitor does not charge extra for this.

    Cheers
    Elka
     
  10. Winston Wolfe

    Winston Wolfe New Member

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    Is anyone familiar with what happens to safe deposit box access during a bank run or insolvency? I suspect branches might have restricted hours or not open at all until they're good and ready.....and I'd forget about ATMs.

    I know Rudd 'guarantees' the first mill on savings accounts, but seriously, I wouldn't want to be holding my breath waiting to get paid if that guarantee was called. While rates are low, sticking some cash in a box might improve access a tad if the hits the fan.
     
  11. Chris C

    Chris C Well-Known Member

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    Exactly what I was wondering!
     
  12. Simon L.

    Simon L. New Member

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    Another Choice for Safe Deposit Box in Sydney

    If you are living/working in Sydney CBD, another option for a safe deposit box provided by a bank is to have a look at Bank of China, I believe they have a branch in Chinatown (Haymarket) as well as another one on York Street.

    One of my friends has a safe deposit box with Bank of China and he told me that they have those boxes in several different sizes for clients to choose from with fairly reasonable prices as well.

    I am not sure whether Bank of China's other branches in NSW (Parramatta, Hurstville), VIC (Melbourne CBD) and WA (Perth CBD) also offer safe deposit box service to public.

    Their website is at Bank of China Australia

    Good luck!
     
  13. TROM

    TROM Active Member

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    That is interesting How come the media never talk about the Bank of China playing a part in the banking system.

    Maybe they could the fifth big player in the future who knows. Anyone here borrowed money from there for purchasing IP's or PPOR?
     
  14. AsxBroker

    AsxBroker Well-Known Member

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  15. 11bridgest

    11bridgest New Member

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    29th Jun, 2009
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    Location:
    Sydney
    The Vault

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    Call me on the above number and I will be happy to talk anything over with you.

    Thanks

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  16. AsxBroker

    AsxBroker Well-Known Member

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    Hi Andy,

    You might want to update your fax details on your website as the country code for +41 is Switzerland...

    Cheers,

    Dan
     
  17. Carolk84

    Carolk84 New Member

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    Details please!


    Hi,

    Would you possibly be able to send me the details of this bank, interested in getting one myself!

    Thanks! :)