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Home >> Safe Deposit Boxes
Bank Opens and Empties Safe Deposit Box at Will
I have a safe deposit box in one of the big local branches. They opened my box due to remodeling. They said they sent me a letter month prior, of which they cannot provide me the copy when I asked for it. They put all my belongings in a plastic bag, and wanted me to sign for it, that I have recieved it.
I did not sign. I want to know what are my rights. I had lots of stuff in the box for over a year. How do I know who opened it and what is missing? Is there any regulation against this? I thought they have to send registered letter to notify me. I am so angry, and I called the bank. Nobody can give me an answer. This is a bank I have had an account with for over twenty years. They have my email address, my street address, my home phone number, and my cell phone number. They opened my box on 4/14/2010 and they called two days later. Can you let me know where should I go and what can I do about this?
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 The bank ought to have notified you well in advance of the relocation of your safe deposit box. Its efforts appear not to have been adequate (although it's possible they did attempt to notify you), and given the situation, it seems your anger is justified.
One of the facts you are facing, of course, is that there is never an inventory of safe deposit box contents on which you and the bank can agree. That's because the bank isn't supposed to know what you keep there. However, it's likely you have a pretty good idea of what was there, and will be able to review the contents of the plastic bag carefully, once you've gotten over the initial justifiable frustration.
Before doing that, however, find out how the contents of your box were transferred to the bag. Was there an inventory done, witnessed and signed by a third party? Often, banks will hire a notary public to witness such events to provide a neutral set of eyes. That procedure would add some control over the process and give you better assurance that you will receive everything that was in the box when it was opened.
Finally, once you are able to review the property, if you believe anything of value is missing, don't sign a release of liability for the bank. Instead, sign for what you receive, and annotate the list of contents to indicate that you reserve your right to dispute the inventory. Then talk to an attorney about your options. In fact, if you are really concerned that some of your valuables might be missing, talk to an attorney before you review the contents of that plastic bag.
Published on BankingQuestions.com 4/23/10
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