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<p>[QUOTE="calcol, post: 26602588, member: 77639"]I understand your concern. Insurance companies are in business to collect premiums, not pay claims. However, the chance of a bank employee opening a safe deposit box on their own is extremely low provided your box is in the right kind of bank. Right kind is one that belongs to the Federal Reserve. The FR has required security measures and inspections. Required security measures in a safe-deposit-only “bank” are no different than a storage facility where you might store furniture and Christmas decorations … it’s up to the company to do what they want. Some of these have laughable security. I recall one where the vault ceiling was the roof of the building. Thieves only had to cut a hole in the roof to get in.</p><p><br /></p><p>My bank has a strict policy than no one can be in the vault alone … not even bank employees. And of course, there are video cameras in the vault.</p><p><br /></p><p>Mike[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 26602588, member: 77639"]I understand your concern. Insurance companies are in business to collect premiums, not pay claims. However, the chance of a bank employee opening a safe deposit box on their own is extremely low provided your box is in the right kind of bank. Right kind is one that belongs to the Federal Reserve. The FR has required security measures and inspections. Required security measures in a safe-deposit-only “bank” are no different than a storage facility where you might store furniture and Christmas decorations … it’s up to the company to do what they want. Some of these have laughable security. I recall one where the vault ceiling was the roof of the building. Thieves only had to cut a hole in the roof to get in. My bank has a strict policy than no one can be in the vault alone … not even bank employees. And of course, there are video cameras in the vault. Mike[/QUOTE]
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