Charge for drilling safte deposit box?

The bank may also be charging for their time needed to deal with and supservise this (essentially, you're paying double service fees). And they may be charging a nuisance fee to encourage folks to be more careful with their keys next time. $150 strikes me as a reasonable amount for (if you'll pardon the phrase) "stupidity tax".

the local old shop here that does SD boxes, charger $100 PER box, no matter if they do 1 or 10 at the bank on the same trip.. and I am in a cheap part of the country. The bank AFAIK does NOT carry extra locks, etc.. but they are supplied by the locksmith as part of the bill. I am not going to get into a 'certain model' statement, but there is 1 brand/model of box that the locksmiths cost is $100.

the price that is quoted includes new lock and 2 keys, set/fit to the banks guard key, actual drilling time,/ installation, and the service call.

IMO, the price is based on the service call of a safe man, which is usually higher than a locksmith, PLUS, the procedures/paperwork is usually MORE time consuming than just walking up to a car and 'unlocking the door' I have spent 5 minutes opening a SD box, actual working time, BUT, from the time I walked through the front door of the bank, to leaving, was about 1 hour..the rest waiting on the 'right person'/s to be present. I did 20 at a bank once, and caught them on a slow day, and was out in 90 minutes. and even then, we waited on a second bank officer for 15 minutes to show up..

--Shiva--

That sounds amazingly cheap.

I think I'd want a deposit box where the simple cost of the locksmith drilling it was more than $150, let alone after the bank has put any discouragment fee onto it.

The locks on the safe deposit boxes are not all that secure against forced entry, but the vault is.

Usually when we open a safe deposit box, part of the fee is the new lock that gets scrapped during the opening. The new lock also has to be set to match the bank key.

$150 is about right.

David,

I charge $100.00 to open the lock. Replacement locks run about $25, except LeFebure, which are around $60 + mileage. When I moved to this area one of the banks had a sign in the window that stated "If you lose the keys to your safe deposit box there is a $200-$400 charge to open & replace the lock". My total charges generally run from $150 - $200 I think I'm reasonable on my fees so that sounds reasonable to me.... :^)

I always have someone at the bank double check the box number and the owner or a representative be present when I open a box to prevent any misunderstandings.

Leon Rowell

David Ames wrote:

UK safe deposit _vaults_ aren't secure, particularly at Harrods. Although such attacks are still pretty rare, most of those that have taken place have been due to complicity by the vault's staff. They have opportunity and clearly the inclination, so I want _them_ kept out too !

You aren't likely to find one. Safety deposit boxes provide almost zero protection from forced opening. The protection is the vault itself and the bank security that controls access to it. In the few instances you hear about of safety deposit vault burglaries almost invariably all the boxes are broken into in short order.

Isn't Harrods a department store?

Ordinarily un the US banks provide safe deposit boxes for their customers. While it is true that if the clerks at the bank were crooked, they could have a duplicate key made prior to the renting of the box and then plunder at will, this does not happen often. Ordinarily banks have control mechanisms in place to require two persons to be in the vault and I am sure that if the bank ever got the reputation that the safe deposit boxes were plundered by dishonest employees, then there would no doubt be a run on the bank and they would loose.

If it is real important, get a safe for your home.

Roger,

I would like to rephrase your last sentence if you don't mind.....

Leon Rowell

Roger Shoaf wrote:

$150 Sounds pretty cheap (especially for Boston)

I don't do bank work, but to open a drop-safe with an S&G 4440 safe deposit lock, I get $75 if the guard key is available ($100 if it's not). Plus a $50 S/C

Then $35 for the new lock and $20 labor to replace it (if no modifications or rekeying are required).

If that was a real problem, safe deposit box makers no doubt would have provided IC cylinders and the bank tell a new customer to purchase a core from a local locksmith - in such a case it would make sense for the IC 'control key' to be the regular key pulled out 'one pin'. Padlockable boxes would not be so silly either -padlocks work well for self storage depots - the bank could have an approved list of Abloy etc padlocks.

Historically AFAIK changeable key locks were available for safe deposit locks to facilitate changing keys when customers moved on. With this sort of lock the bank could always ask the customer to randomly select a pair of keys from the spare stock thus minimising the risk of bank staff having a copy..

As others said, the safe deposit box provides almost no protection to the contents. I read an article on safe deposit boxes that admonished the locksmith to always use destructive means to break into the box rather than pick it or pull the nose and manipulate the mechanism. The reason given was to avoid making the customer feel insecure about the safety of their valuables.

I'm sure the sale of a new lock does not hurt either.

So, in short, the bank does not want to spend a couple hours babysitting the locksmith while he changes the lock. Higher security boxes have no extra value to them since the customer thinks it's secure and won't (in general) pay extra for one that takes an hour to open.

Daniel

It provides (or should) quite a bit of protection. Not against opening, but against _undetected_ opening.

THAT is the thing.. it 'shows a damage path'.. the actual vault and the clerks and required paper work provide the protection..

if, perchance, you got a key to box 234, and go to the bank, THEY MUST check, are you on the 'approved list' for that box, AND are you who you say you are? that is the main protection.. the box lock itself, provides the 'not easily opened' level needed for the actual vault room.. yes, they can be 'gotten through' HOWEVER, it leaves a trail.

--Shiva--

And it takes enough time and effort that it will prevent someone who goes in to access their own box from tampering with anyone else's.

As we've said many times, this is an engineering decision; the question is not perfect security but "good enough" security.

That's the problem. The bank will know it's been opened, but they are made to be easily repairable too. Was it Shiva that quoted 5 minutes per box? If the box is opened professionaly and repaired professionally, the only way the customer knows is if the bank lets them know.

I'm pretty sure that under the patriot act they can serve warrants that require that the customer is not notified. I could be wrong.

Daniel

IRS probably can too. If a customer is paranoid he can always put a discreet 'seal' on the inside canister, or get a friend or relative to rent the box and keep the keys very well hidden.

depending on the lock, yes, HOWEVER, your old key would not work in that time frame, there would be more time required to 'pin it original'.. this is a 'destroy the renters side, sometimes damaging the levers, sometimes not..

there is at least one make/model that can be opened and NOT leave a trace.. but, at that point, you are too paranoid to leave things IN a bank, so IMO its a small matter..

and Yes, the patriot act would allow entry and you are NOT allowed to know, ever --Shiva--