|
|||||||||
 |
|||||||||
 |
|||||||||
|
|||||||||
 |
|||||||||
|
|
||||||||||||||||||||||
|
 A Safe Deposit Box: Peace of Mind at a Modest Price Do you have important papers, valuable collectibles, or pricey jewelry at home? Why not rent a safe deposit box to safeguard them? It’s easy and relatively inexpensive. You may want to review the process of obtaining and using a safe deposit box before signing on the dotted line and getting a key to your own little treasure trove. Finding a safe deposit box Start with a visit to a bank near home to find out if they have boxes available. Ask for a copy of the bank’s policy about safe deposit boxes. You may discover that not every bank location has a vault. They are usually found in a bank’s larger offices, and in so-called “hometown banks,” not in branches in industrial locations. The smallest box, preferred by most consumers, holds a surprising amount and costs less for a whole year than most people pay for their monthly utility bills. To rent your box, you will fill out some paperwork and designate one (or more) co-renter or a deputy whom you authorize to access to the box in your absence. Everyone with access to the box will receive a key to bring when visiting the box. Their signature(s), as well as yours, will be kept on file at the bank and verified every time one of you visits. What to put in it Most people use their safe deposit boxes to store important (and difficult to replace) papers as well as jewelry, valuable collectibles and insurance photos of a home’s contents. Prohibited are explosives, hazardous liquid or offensive property (or any property whose possession is illegal). A common-sense suggestion is to keep papers you might need to get quickly, such as a will or cemetery deed, in another place. What you put into your safe deposit box remains completely confidential. That’s why, when you visit, you accompany the bank’s employee into the vault, witness the opening of the little door that keeps your individual box’s location secure, personally carry the box to a private room to take care of your business, then return to the vault and watch as it is locked in its slot. These procedures are designed to free the bank from any liability, and fulfill its obligation to “use ordinary care” to prevent unauthorized persons from gaining access to your box. You may feel the things in your box should be insured; if so, consult the agent who writes your homeowner’s or renter’s policy. February 14, 2002
|
||||||||||||||||||||||||||||
| Copyright (c) 2000 American Express Company. All Rights Reserved. Users of this site agree to be bound by the terms of the American Express Web Site Rules and Regulations. View Web Site Rules and Regulations and trademarks and Privacy Statement of American Express. See Corporate Entities and Important Disclosures for additional information about the American Express entities who offer products and services on americanexpress.com. American Express Brokerage is offered by American Express Financial Advisors Inc., Member NASD and SIPC. American Express Company is separate from American Express Financial Advisors Inc. and is not a broker dealer. |
|||||||||||||||||||||||||||||
