# Safe deposit box



## clowboy (18 December 2007)

hey,

Anyone have a safe deposit box?  Preferably in Perth.

If so I am interested in how much it costs you a year + who it is with.

thanx


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## Yezzy (18 December 2007)

I pay $125 a year for quite a large box, mines with one of the local Westpac branches.


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## Nyden (18 December 2007)

Mate, although cash is king - a high interest savings account sure beats keeping your cash in a deposit box! Sorry!  Couldn't help myself.


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## clowboy (18 December 2007)

Thankx yezzy.

Nyden?

CASH????

Although, 6% in a bank account aint gunna do you much good if it aint there when you want to get it out.


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## Nyden (18 December 2007)

clowboy said:


> Thankx yezzy.
> 
> Nyden?
> 
> ...




Was joking around with you mate; in reference to the recent market turmoil  Inferring that your question was based on the fact that you had intent on keeping all your money in a box, with fears of world wide melt down


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## investorpaul (23 September 2009)

*Safe Deposit Boxes - 11 Bridge St - The Vault*

Hi Guys,

I was doing some research on the weekend into safe deposit boxes and came across this company:

The Vault - 11 Bridge Street

Basically they fill the gap left after banks started moving away from the provision of safe deposit boxes. Does anyone know anything about this company or better still does anyone use them? Prices appear reasonable, starting at $250 p.a.

I am also going to email them some questions (but feel free to answer as well):

1. If I was to die and I had forgot to include that I had a safe deposit box in my will is there any way for my next of kin to find out?

2. Is there anyway for someone else to find out that I have a safe deposit box (i.e. say someone sued me would others be able to find out if I had valuables in a safe deposit box)?

Thanks in advance

P.S. no i am not involved in any illegal activities that require the hiding of vast sums of money. I am mainly interested in storing some family jewellery and maybe $2-$5k for security/emergency use.


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## gordon2007 (23 September 2009)

Why not just get a safe installed in your house?


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## investorpaul (23 September 2009)

gordon2007 said:


> Why not just get a safe installed in your house?




Because then other people will know about it. I.E. I am looking for a place where can I stick some valuables where if worse comes to worse I know I have a bit of cash and keep sakes to pick upself up and get going again.


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## overit (23 September 2009)

investorpaul said:


> Because then other people will know about it. I.E. I am looking for a place where can I stick some valuables where if worse comes to worse I know I have a bit of cash and keep sakes to pick upself up and get going again.




I guess you have been reading the divorce buggers money managment thread!


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## investorpaul (23 September 2009)

overit said:


> I guess you have been reading the divorce buggers money managment thread!




I have but to be honest the main protection would be if in the future I went into business and I got screwed over I would like to have a bit stashed away and there is no point opening a box up once you are on your way to the cleaners as it would be spotted to easily.


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## Krusty the Klown (23 September 2009)

*Re: Safe Deposit Boxes - 11 Bridge St - The Vault*



investorpaul said:


> 1. If I was to die and I had forgot to include that I had a safe deposit box in my will is there any way for my next of kin to find out?




No, unless the storage company sends you a statement.



> 2. Is there anyway for someone else to find out that I have a safe deposit box (i.e. say someone sued me would others be able to find out if I had valuables in a safe deposit box)?




No, the Privacy Act prevents the release of information without your permission except by law or court order.

And that's the key, if you get sued and it goes to court and you are asked under oath, "Do you have any other assets you have not already provided us details of?" and you say NO, then you are committing perjury.

That's the only way I know of.


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## investorpaul (23 September 2009)

*Re: Safe Deposit Boxes - 11 Bridge St - The Vault*



Krusty the Klown said:


> No, unless the storage company sends you a statement.
> 
> 
> 
> ...




In that instance I would of course tell,

if they dont ask though ??? lol


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## Mr J (23 September 2009)

Nyden said:


> with fears of world wide melt down




If it comes to that, I don't think money will do anyone much good. Food and ammo .


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## Krusty the Klown (23 September 2009)

*Re: Safe Deposit Boxes - 11 Bridge St - The Vault*



investorpaul said:


> In that instance I would of course tell




Yeah me too!!!! LOL 



> if they dont ask though ??? lol




Exactly!!!!!


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## jono1887 (23 September 2009)

gordon2007 said:


> Why not just get a safe installed in your house?




because you can lift out a home safe with 2-4 people... not very difficult to walk out the house with all its contents :

Unless you're cementing into your floor/foundation. And then... you would need one with a very good door that couldnt be broken into that easily. I would think a decent safe would cost more than 20 years of hiring a safety dep box


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## jono1887 (23 September 2009)

investorpaul said:


> I have but to be honest the main protection would be if in the future I went into business and I got screwed over I would like to have a bit stashed away and there is no point opening a box up once you are on your way to the cleaners as it would be spotted to easily.




Not too sure people would be following you would they?? And what are the legal implications with having stuff in there during a divorce or bankrupcy?



Nyden said:


> Mate, although cash is king - a high interest savings account sure beats keeping your cash in a deposit box! Sorry!  Couldn't help myself.




You can always store diamonds in there. Can easily fit several million $$ in a single box.


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## Mr J (23 September 2009)

If you're going to attempt to hide assets, you may not be much worse off by doing so under an additional identity.


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## Dowdy (23 September 2009)

investorpaul said:


> Because then other people will know about it. I.E. I am looking for a place where can I stick some valuables where if worse comes to worse I know I have a bit of cash and keep sakes to pick upself up and get going again.




If worst comes to worst then the banks will seize you deposit box, as other bank did during their currency crisis.

Just get a safe 



> because you can lift out a home safe with 2-4 people... not very difficult to walk out the house with all its contents
> 
> Unless you're cementing into your floor/foundation. And then... you would need one with a very good door that couldnt be broken into that easily. I would think a decent safe would cost more than 20 years of hiring a safety dep box




If you can lift my safe out of the house, then you can have it!
It took a small crane and four men to put it in. 
Don't go with the cheap ones. Get a TDR safe (torch and drill resistant). Cheaper ones are just plate steel. On a TDR safe the door alone can weight 200-300kg!


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## investorpaul (23 September 2009)

Mr J said:


> If you're going to attempt to hide assets, you may not be much worse off by doing so under an additional identity.




Im not interested in anything illegal like that.

Basically I was after a way of holding some valuables and the only people who know are those I told. Nothing sinister about that, just another form of risk management (IMO) should the S#### hit the fan.


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## investorpaul (23 September 2009)

Dowdy said:


> If worst comes to worst then the banks will seize you deposit box, as other bank did during their currency crisis.
> 
> Just get a safe
> 
> ...




How would the bank know I have a safe deposit box? The company who runs 11 Bridge St has no links to banks as far as I can tell.

A small safe deposit box costs $250 a year or $2500 upfront for a 35 year lease. I havnt looked at safes but i think it i safe to assume they would cost more than that for a good one. Plus if I move house I need to buy a new safe.


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## nunthewiser (23 September 2009)

um the problem with a safe at home IS ...... takes one fella with a shotty to ask you to open it for them 

not saying its going to happen but it is a scenario


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## jono1887 (24 September 2009)

Dowdy said:


> If you can lift my safe out of the house, then you can have it!
> It took a small crane and four men to put it in.
> Don't go with the cheap ones. Get a TDR safe (torch and drill resistant). Cheaper ones are just plate steel. On a TDR safe the door alone can weight 200-300kg!




How much did that safe cost you? I'm guessing far more than 20 years lease on a safety dep box... And what could you possibly have at home that would require such a big safe? you storing bullion and diamonds at home? or just want to keep those family photos safe? :

Also on the previous post... whats stopping someone with a gun asking you politely to open the safe??


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## investorpaul (24 September 2009)

Im going to email them today with a few questions but I am already sold on the idea of a small safe deposit box for both security and privacy reasons.


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## Krusty the Klown (24 September 2009)

One other con for a home safe.

I have a fire safe for important documents which I found out during a flash flood is not air tight. Every piece of paper was ruined through water damage.


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## jono1887 (24 September 2009)

Krusty the Klown said:


> One other con for a home safe.
> 
> I have a fire safe for important documents which I found out during a flash flood is not air tight. Every piece of paper was ruined through water damage.




How does a fireproof safe not have water proofing capabilities?? I'd go and try to burn the damn thing... if water can seep in, I'm sure heat could too probably damaging electronic equipment like hard drives and maybe even igniting paper??


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## investorpaul (24 September 2009)

jono1887 said:


> How does a fireproof safe not have water proofing capabilities?? I'd go and try to burn the damn thing... if water can seep in, I'm sure heat could too probably damaging electronic equipment like hard drives and maybe even igniting paper??




It would suck if your house caught on fire and the fire didn't damage the contents of the safe but the fire hoses and amount of water they sprayed all over your house did.


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## Nyden (24 September 2009)

investorpaul said:


> Im not interested in anything illegal like that.
> 
> Basically I was after a way of holding some valuables and the only people who know are those I told. Nothing sinister about that, just another form of risk management (IMO) should the S#### hit the fan.




But as already mentioned, should the sh## one day hit the fan, depending on the severity - the government may forbid you from even opening said safety deposit box, without a person of government authority overseeing the contents.

No one really gets to avoid any major catastrophe, it's why governments forbid hoarding when a disaster hits


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## jono1887 (24 September 2009)

Nyden said:


> But as already mentioned, should the sh## one day hit the fan, depending on the severity - the government may forbid you from even opening said safety deposit box, without a person of government authority overseeing the contents.
> 
> No one really gets to avoid any major catastrophe, it's why governments forbid hoarding when a disaster hits




you can always get someone else to empty the contents for you...


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## MrBurns (24 September 2009)

investorpaul said:


> The company who runs 11 Bridge St has no links to banks as far as I can tell.
> A small safe deposit box costs $250 a year or $2500 upfront for a 35 year lease. .




Tell you what you send youre money to me and I'll _look after it _for nothing

Anyone who puts valuables in a safe deposit box run by a private company deserves everything they get.


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## Nyden (24 September 2009)

jono1887 said:


> you can always get someone else to empty the contents for you...




No, I am of course referring to the days of the Great Depression, where no safety deposit box could be opened without the oversight of a member of government.

I can only assume that was the "sh##" investorpaul was referring to. Unless, of course - he's a drug baron, worried he'll one day get caught.


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## gordon2007 (24 September 2009)

nunthewiser said:


> um the problem with a safe at home IS ...... takes one fella with a shotty to ask you to open it for them




True, but only takes one shot from the pistol in the safe to shoot his brains out upon opening safe!

Also, most (good quality) safes are cemented into the foundation and are also fire\heat proof to some ungodly high amount.


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## Dowdy (24 September 2009)

jono1887 said:


> How much did that safe cost you? I'm guessing far more than 20 years lease on a safety dep box... And what could you possibly have at home that would require such a big safe? you storing bullion and diamonds at home? or just want to keep those family photos safe? :
> 
> Also on the previous post... whats stopping someone with a gun asking you politely to open the safe??




It cost me $4000+. Sure it more then a safe deposit box but i bet the safe deposit box isn't 150cm high, so in terms of size it's better value.

What i have in there? I collect coins and notes and my uncut notes are big, height wise, and it would never fit in a safe deposit box.



> whats stopping someone with a gun asking you politely to open the safe??




Nothing, but what's stopping the safe deposit box company running away with your money or some guy working there break into your box one night and steal you your dough. Each of those scenarios has happened, including the one you mentioned to me but you can't live your life worrying about the unknown. You can only do so much to prepare yourself


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## jono1887 (25 September 2009)

Dowdy said:


> It cost me $4000+. Sure it more then a safe deposit box but i bet the safe deposit box isn't 150cm high, so in terms of size it's better value.
> 
> What i have in there? I collect coins and notes and my uncut notes are big, height wise, and it would never fit in a safe deposit box.
> 
> ...





Is this what you have?? http://www.chubblockandsafe.co.nz/database_safes/chubbsafes_sh_tdr_4623.htm


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## stocksontheblock (25 September 2009)

The one comment I would make is that make sure you understand the Anti-Money Laundering and Counter - Terrorism Financing Rules (AML/CTF Rules).

In basic terms, whoever you store your 'goods' with must do an identity check. This check must be recorded, registered and held for quite a few years.

So even in some sort of **** hitting the fan situation, or marriage break-up someone can find out very easily through FOI that you have one. Not necessarily what you have.


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## Dowdy (25 September 2009)

jono1887 said:


> Is this what you have?? http://www.chubblockandsafe.co.nz/database_safes/chubbsafes_sh_tdr_4623.htm




No. This is what i have http://www.premiersafes.com.au/service5.html.

First one


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## Nyden (25 September 2009)

Dowdy said:


> No. This is what i have http://www.premiersafes.com.au/service5.html.
> 
> First one




That's a beaut, could fit at least 2 bodies in there


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## greggy (25 September 2009)

Nyden said:


> That's a beaut, could fit at least 2 bodies in there




Which reminds me, has anyone seen my mother-in-law lately?


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## jono1887 (28 September 2009)

Dowdy said:


> No. This is what i have http://www.premiersafes.com.au/service5.html.
> 
> First one




How hard is it to pick safes? After seeing the Italian Job.. it seems like specialist lock smiths are able to open them without too much difficulty. Is this just in movies?


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## Krusty the Klown (30 September 2009)

stocksontheblock said:


> So even in some sort of **** hitting the fan situation, or marriage break-up someone can find out very easily through FOI that you have one. Not necessarily what you have.




Are you sure about that? 

Doesn't FOI only work with government bodies and their documents, not private firms. 

Wouldn't a company breach the Privacy Act if they released your info without your permission?


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## jono1887 (1 October 2009)

Krusty the Klown said:


> Are you sure about that?
> 
> Doesn't FOI only work with government bodies and their documents, not private firms.
> 
> Wouldn't a company breach the Privacy Act if they released your info without your permission?




I don't think so.. courts can rule warrants that allow for the release of confidential info if it has to do with a case...


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## Krusty the Klown (1 October 2009)

jono1887 said:


> I don't think so.. courts can rule warrants that allow for the release of confidential info if it has to do with a case...




Yes, the courts can rule that, but FOI is for the release of information out of a court setting.


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## jono1887 (1 October 2009)

Krusty the Klown said:


> Yes, the courts can rule that, but FOI is for the release of information out of a court setting.




Ohh...right, the freedom of info act. Yea, im pretty sure that doesnt apply for private information, just govt related. 

You cant use FOI to get the medical details of your annoying neighbor just to find out their allergies ::


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## Nyden (2 October 2009)

jono1887 said:


> Ohh...right, the freedom of info act. Yea, im pretty sure that doesnt apply for private information, just govt related.
> 
> You cant use FOI to get the medical details of your annoying neighbor just to find out their allergies ::




You would be surprised as to what details are available on websites specializing in background checks. Past marriages, default history, credit ratings, home ownership, criminal history, etc. Of course, medical history is still a big no-no, and one would be hard pressed to obtain that.


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## Krusty the Klown (2 October 2009)

Nyden said:


> You would be surprised as to what details are available on websites specializing in background checks. Past marriages, default history, credit ratings, home ownership, criminal history, etc. Of course, medical history is still a big no-no, and one would be hard pressed to obtain that.




Really? Any sites in particular?


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## jono1887 (2 October 2009)

Nyden said:


> You would be surprised as to what details are available on websites specializing in background checks. Past marriages, default history, credit ratings, home ownership, criminal history, etc. Of course, medical history is still a big no-no, and one would be hard pressed to obtain that.




Criminal history, probably yes for employers and the like.. but the rest, incl credit history.. I don't think so. Having the ability to get someones full credit history gives you the ability to open an account in their name essentially..

With home ownership, you can find out for a fee, who owns a particular piece of property, but not vice versa..


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## Nyden (2 October 2009)

jono1887 said:


> Criminal history, probably yes for employers and the like.. but the rest, incl credit history.. I don't think so. Having the ability to get someones full credit history gives you the ability to open an account in their name essentially..
> 
> With home ownership, you can find out for a fee, who owns a particular piece of property, but not vice versa..




Perhaps there isn't anything like it for Australian residents, but for American residents - there are plenty of sites. Just search for a background check site on google. I said credit rating, not history. Many landlords in the US use those sorts of services. Basically, privacy is so 1980s 

Heck, Zabba Search is a free one in the states, but only really returns name, phone number, and address.

Oh, and most aren't free. It's generally something like $20 per report.


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## Krusty the Klown (3 October 2009)

Nyden said:


> Perhaps there isn't anything like it for Australian residents, but for American residents - there are plenty of sites. Just search for a background check site on google. I said credit rating, not history. Many landlords in the US use those sorts of services. Basically, privacy is so 1980s
> 
> Heck, Zabba Search is a free one in the states, but only really returns name, phone number, and address.
> 
> Oh, and most aren't free. It's generally something like $20 per report.




Ok, I haven't come across anything like this for Aussies, must be a US thing. Usually a credit check in Oz consists of references the borrower consents to, then the credit provider contacts them.


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## jono1887 (4 October 2009)

Krusty the Klown said:


> Ok, I haven't come across anything like this for Aussies, must be a US thing. Usually a credit check in Oz consists of references the borrower consents to, then the credit provider contacts them.




Yea.. you have to sign this form giving them permission to get your credit history. You can get your own credit history online, but they request quite a few forms of ID which you have to mail in I think..


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