Be Careful: Safe Deposit Boxes are NOT safe !!

Here's an interesting story about safe deposit boxes at banks.

https://www.nytimes.com/2019/07/19/business/safe-deposit-box-theft.html?action=click&module=Well&pgtype=Homepage&section=Business

TLDR: Many people have lost a lot of valuables that they placed in safe deposit boxes and the banks are NOT legally responsible for any damages. This mostly occurs when the banks change ownership and records are lost. Even worse is simple, stupid mistakes. Like some other customer doesn't pay for their box and the bank wrongly drills out YOUR box.

How often does this occur? It happens to over 30,000 safe boxes PER YEAR !!

I see here how people often recommend safe deposit boxes to store seed phrases or even actual USB devices or hardware wallets. Be very careful that you have a backup elsewhere BESIDES the safe deposit box.



Submitted July 20, 2019 at 09:36AM by bjman22 https://ift.tt/2Y8A7nV

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