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Questions tagged [safe-deposit-box]

A safe deposit box is an individually secured container usually held within a larger safe or bank vault.

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-3 votes
3 answers
340 views

How to mitigate risk of having cash with you when abroad, how to move it across countries while minimizing its time physically on your person?

Usually I only travel with payment cards, and I use a debit card in my destination's airport to withdraw cash at an ATM. Me and my significant other will soon return home (the UK) from a third country,...
3 votes
2 answers
1k views

Deductability of safe deposit box rental

Theoretically, the cost of renting a safe deposit box IS deductable on federal taxes "if the box is used for storing stocks,bonds, or investment-related papers and documents." Does anyone ...
6 votes
2 answers
688 views

What are the disadvantages of keeping a small part of your assets as cash in a safe deposit box?

In Switzerland, banks do rent out safe deposit boxes for valuables. I am thinking of storing a small fraction of my assets there as cash. To diversify my portfolio, in addition to a savings account at ...
31 votes
1 answer
6k views

What happens if a bank loses your safe deposit box?

My bank cannot find my safe deposit box! Luckily I still have the original contract and the keys. They are currently researching what happened, but it doesn't look good. I don't know when the box ...
18 votes
10 answers
2k views

Who uses safe deposit boxes?

What items would an average person keep in a safe deposit box? Sounds like most of the documents (passports, birth certificates) can be restored.
3 votes
2 answers
321 views

Can a safety deposit box fee reduce my taxes if I don't itemize?

Suppose I make $100 interest from a bank account and I pay $100 for a safety deposit box in a given tax year where I take the standard deduction. Can the safety deposit box fee reduce my taxes somehow?...
3 votes
1 answer
163 views

Do you need to be a customer of the bank to use their safety deposit box services?

The bank I want to use in the future doesn't have physical bank office locations so I'm looking into being able to use a safety deposit box service or something similar to store some documents.
4 votes
1 answer
5k views

Will safe deposit boxes go to creditors when a bank in the United States goes bankrupt?

Money deposits will be gone when banks go bankrupt. How about safe deposit boxes? Will safe deposit boxes go to creditors as well when the bank goes bankrupt? What are the protections provided to ...