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<p>[QUOTE="benveniste, post: 8419322, member: 25547"]In the U.S. it depends on how it closes:</p><ul> <li>If the multi-branch bank decides to shut down a branch, they send a notice to all box holders well ahead of time. A typical notice includes dire warnings about what happens if you fail to remove the contents -- typically they drill out the box and turn the stuff over to the state's unclaimed property division.</li> <li>If the bank goes into insolvency or is seized, the FDIC steps in. They find another bank to take over the branch either temporarily or permanently and the bank reopens on the next business day or the day after. If the opening is temporary, they send out a notice as above. If permanent, then they assume the lease agreement and when it's time for renewal, you get to deal with a new contract with new terms and often at a new price.</li> <li>If they close a branch temporarily, as happened to my branch during the COVID shutdowns, you have to make an appointment to visit your stuff.</li> </ul><p>So basically, if you put your eggs into one basket, you'd damn well better pay attention to that basket.[/QUOTE]</p><p><br /></p>
[QUOTE="benveniste, post: 8419322, member: 25547"]In the U.S. it depends on how it closes: [LIST] [*]If the multi-branch bank decides to shut down a branch, they send a notice to all box holders well ahead of time. A typical notice includes dire warnings about what happens if you fail to remove the contents -- typically they drill out the box and turn the stuff over to the state's unclaimed property division. [*]If the bank goes into insolvency or is seized, the FDIC steps in. They find another bank to take over the branch either temporarily or permanently and the bank reopens on the next business day or the day after. If the opening is temporary, they send out a notice as above. If permanent, then they assume the lease agreement and when it's time for renewal, you get to deal with a new contract with new terms and often at a new price. [*]If they close a branch temporarily, as happened to my branch during the COVID shutdowns, you have to make an appointment to visit your stuff. [/LIST] So basically, if you put your eggs into one basket, you'd damn well better pay attention to that basket.[/QUOTE]
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