Safe deposit box

[clowboy]

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

 

[Yezzy]

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

 

[Nyden]

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

 

[clowboy]

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.

 

[Nyden]

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.

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

 

[investorpaul]

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.

 

[gordon2007]

Why not just get a safe installed in your house?

 

[investorpaul]

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.

 

[overit]

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!

 

[investorpaul]

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.

 

[Krusty the Klown]

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

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.

 

[investorpaul]

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

No, unless the storage company sends you a statement.



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.

In that instance I would of course tell,

if they dont ask though ??? lol

 

[Mr J]

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 .

 

[Krusty the Klown]

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

In that instance I would of course tell

Yeah me too!!!! LOL

if they dont ask though ??? lol

Exactly!!!!!

 

[jono1887]

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

 

[jono1887]

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?

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.

 

[Mr J]

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

 

[Dowdy]

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!

 

[investorpaul]

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.

 

[investorpaul]

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



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 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.