Anyone emptied their safe deposits yet!?

[tallyhojim]

17 hours ago, Melon said:

That's a hell of a question! If folk take the precaution of storing their PMs in a SDB for safe keeping, I would hope they wouldn't announce when they take it all home with them! 

You do know the folk working in bank branches get terrible pay and work essentially a standard retail job right? Just saying, sounds like you have them confused with investment bankers! 

Here's the thing - nobody is forcing those bank workers to do that job. They have nothing to prevent them from bettering their situation and seeking better paid employment. People for the most part are not victims, but merely lack the agency to take charge of their own lives.

[tallyhojim]

Just withdrew another bulk of cash from my bank.

[Melon]

56 minutes ago, tallyhojim said:

Here's the thing - nobody is forcing those bank workers to do that job. They have nothing to prevent them from bettering their situation and seeking better paid employment. People for the most part are not victims, but merely lack the agency to take charge of their own lives.

I think you drastically misunderstood my point! I'm not suggesting we should feel sorry for them, just pointing out that they shouldn't be treated as if they are somehow guilty of something. Every one of us uses a retail bank, it's an essential part of daily life. Front line staff in a retail bank (or really anyone in a retail bank) has sod all to do with global financial meltdowns!  

[Abyss]

The question is worth thinking about will the SHTF to such a degree that you could lose the safety deposit box? I hold mine in non banking establishment and the establishment has survived two World Wars so it is staying put. Of course exceptions to every rule but things have to get pretty bad before I change my position. Maybe Dow fell 5,000 then all bets are off don't collect $200 when you pass go.

[GoldElliott]

1 hour ago, tallyhojim said:

Just withdrew another bulk of cash from my bank.

I love cash and only use it as I find it easier to keep track of what I am spending and don't want others knowing how I spend my money, but I am finding it harder and harder to use in London where I live and work. More places are going to card only (including the Tesco near where I work!!) and you are treated suspiciously anytime you pay for something substantial using cash! Try putting sums of cash in the bank or withdrawing them!

[AuricGoldfinger]

@Abyss thanks for responding to my question, that’s what my thoughts are - the likes of Metro Bank who already not doing so great, something like this could be the tipping point. The flip side is potentially with social unrest it could be one of least secure times to secure your valuables anywhere else.

[AuricGoldfinger]

@GoldElliott totally agree. Cash is a dirty word these days. I find it utterly ridiculous when places don’t accept cash - LEGAL TENDER!?

[motorbikez]

I always have a few thousand in cash something I have done since my 30s.

[GoldElliott]

1 hour ago, AuricGoldfinger said:

@GoldElliott totally agree. Cash is a dirty word these days. I find it utterly ridiculous when places don’t accept cash - LEGAL TENDER!?

Seems that everyone is obsessed with Monzo etc and contactless payments... meanwhile cashpoints and banks are closing down. Wait until there's no way to get your hands on your money as it only exists virtually and the banks start charging you to own and spend your money. We aren't that far away already! Cash is King and Gold is God.

[Martlet]

1 hour ago, Abyss said:

The question is worth thinking about will the SHTF to such a degree that you could lose the safety deposit box? 

If you want a pragmatic (slightly rose tinted view), this is not a banking event.  Technically most the banks are or should be reasonably well prepared for a shock and there is already measures to help them.  The wider economy is at threat this time, certainly with large write downs to come, they shouldn't be banks assets but debts.  

[tallyhojim]

2 hours ago, Melon said:

I think you drastically misunderstood my point! I'm not suggesting we should feel sorry for them, just pointing out that they shouldn't be treated as if they are somehow guilty of something. Every one of us uses a retail bank, it's an essential part of daily life. Front line staff in a retail bank (or really anyone in a retail bank) has sod all to do with global financial meltdowns!  

Ah now I understand. Basically they're being treated as guilty by association merely for working for a banking institution.

[Melon]

14 minutes ago, tallyhojim said:

Ah now I understand. Basically they're being treated as guilty by association merely for working for a banking institution.

Yes 

[SilverPirate007]

22 hours ago, Seth said:

There in nothing in my safety deposit box worth anything yet alone worth emptying, all I use my safety deposit box for is to store documents and passports in - I hold multiple passports.  So it's nothing that can't be replaced, it's just replacing them would be a PITA of mega proportions, and would involve travelling to several countries.

The names bond, James Bond 

[AuricGoldfinger]

More like jason bourne!

[SilverPirate007]

1 minute ago, AuricGoldfinger said:

More like jason bourne!

Ah of course! I stand corrected

[goldking]

2 hours ago, Abyss said:

The question is worth thinking about will the SHTF to such a degree that you could lose the safety deposit box? I hold mine in non banking establishment and the establishment has survived two World Wars so it is staying put. Of course exceptions to every rule but things have to get pretty bad before I change my position. Maybe Dow fell 5,000 then all bets are off don't collect $200 when you pass go.

HSBC changed their rules a while back - there was an article about it on ZH.  I don't remember the exact specifics so don't quote me, but the jist of it was that HSBC had granted themselves to right to go rummaging through your deposit box and if they found anything juicy they would take it and you wouldn't be able to do a thing about it.

[Xander]

6 minutes ago, goldking said:

HSBC changed their rules a while back - there was an article about it on ZH.  I don't remember the exact specifics so don't quote me, but the jist of it was that HSBC had granted themselves to right to go rummaging through your deposit box and if they found anything juicy they would take it and you wouldn't be able to do a thing about it.

I would be surprised it that's legal, having said that, they are a bunch of crooks.

[Minimalist]

2 hours ago, GoldElliott said:

I love cash and only use it as I find it easier to keep track of what I am spending and don't want others knowing how I spend my money, but I am finding it harder and harder to use in London where I live and work. More places are going to card only (including the Tesco near where I work!!) and you are treated suspiciously anytime you pay for something substantial using cash! Try putting sums of cash in the bank or withdrawing them!

Sounds horrible in London

If you have a Barclays account you can put up to £4,000 in they deposit/cheque machines. Its easier up here in Scotland.

[Minimalist]

28 minutes ago, goldking said:

HSBC changed their rules a while back - there was an article about it on ZH.  I don't remember the exact specifics so don't quote me, but the jist of it was that HSBC had granted themselves to right to go rummaging through your deposit box and if they found anything juicy they would take it and you wouldn't be able to do a thing about it.

The irony from HSBC when they were caught dealing in drug cartel money

[Seth]

On 16/03/2020 at 22:29, SilverPirate007 said:

The names bond, James Bond 

Having multiple passports is not unusual, I'm willing to bet that I'm not the only forum member wih more than one nationality on paper, considering I was not born in the country that I'm from - that got me one passport, some of the type of work I was doing while I took a 5 year break from music required me to become a citizen of the country that was employing me - that got me a couple more, they don't just let any Tom, Richard or Harry have access to or play around with live military ordnance, or inspect and work on naval vessals, and even be sub conracted by their navy/cost guard/armed services.  Being married to somebody from a different counry to me got me another passport - I even got to keep it after the divorce, so did doing national service. You'll find that British people are allowed to hold dual nationality - yes one of my passpors is Brittish you guys where dumb enough to give me one.  The only problems is that I can not allow any of them to lapse or expire if I want to keep them - well some of them some I can let expire or lapse, and remmembering which passport you used to leave a country on for a holiday for when you return, and since when it comes to paperwork I'm extremly unorganised no matter how much I try thanks to being severly dyslexic, I find it much much easier to keep all my ''important'' documents and even photos in a safety deposit box, I only keep the passport that I'm currently using at home in an envolope taped to the side of my digial audio workstation - basically a computer specially built and designed for recording studios, in my recording studio - yes I own my own private recording studio which is basically a couple of rooms tha have been ''acoustically treated and dressed'' miced up and connected to my recoding worktop.

[dicker]

You are not. But I have both of mine with me at all times. 
 

I travel a lot....at short notice.  Not ever a problem to have two with me as long as I only use one of them between destinations.

Always amused me that SD boxes at Metro bank are “not to be used for cash”  

 

 

[Seth]

4 minutes ago, dicker said:

You are not. But I have both of mine with me at all times. 
 

I travel a lot....at short notice.  Not ever a problem to have two with me as long as I only use one of them between destinations.

Always amused me that SD boxes at Metro bank are “not to be used for cash”  

 

 

It sounds silly not being allowed to keep cash in safety deposit boxes, but I can undersdtand why, it's to stop people from hiding wealth, stop tax avoidance and money laundering. among many other things.  You will find that there are a lo of things that you are not supposed to store in safety deposit boxes, but that hasn't and will never stop people from storing stuff you are not allowed to in them.

[tallyhojim]

Withdrew another lump sum of cash today over the counter. Lady at counter who knows me by face, commented in a rather bemused manner that I'm the umpteenth regular person today that has been coming in to withdraw cash. The trickle of possible bank runs may have started......

Also filled up every single 25 litre jerry can I have, including those 5 litre plastic jobbies, with petrol, as I believe the next mad rush will be for fuel. Think about it, if access into the UK is restricted even by a small amount, that will have a knock on affect with fuel tankers. And what if tanker drivers are told to stay home by their agencies or employers? Domino effect.

[Uksilverstackers]

On 15/03/2020 at 23:42, tallyhojim said:

I will just tell them it's my money and they can mind their own damned business.

Ahhh, was your money, up till the point you deposited it with a bank....

[Seth]

12 hours ago, Uksilverstackers said:

Ahhh, was your money, up till the point you deposited it with a bank....

Don't let him know that, he'll probably urn up at his local bank tomorrow packing some ''heat''.