safe deposit box question

stockwiz · June 24, 2008 2:06AM

I just today got a new safe deposit box at a different bank as mine is out of the larger size ones. Rather then having a teller who escorts you into the room and uses her key to open the box, they've got a hand scanning system where you scan your hand, enter a 4 digit number, and the door opens. No escort is needed in this process, and only one key (your key) is needed to open the box. There are no cameras in the room that I could see.

I might just be paranoid, but this doesn't seem as safe.. these locks seem to me like they would be easy to pick, and all one would have to do to get someone else's contents is to get a box there, use their own ID to get inside, and simply pick someone else's lock. Am I just being paranoid here? To me the bank escort seems more secure rather then just letting people enter the room without supervision.

What do you think?

blu62vette · June 24, 2008 2:10AM

I am surpised the box is not double custody. Still safer than a lot of places but doesnt sound as safe as a typical box.

doh · June 24, 2008 2:11AM

You're being very paranoid. My SDB isn't in a vault at all. There's a small bank of maybe 100-200 SDBs off near the bank managers office. No one escorts me to them...I walk up to them and use my one key to get in. I usually just pull it out and look at the contents right there...they don't even have little rooms to use....although I was told I could use any one of the offices if I wanted to. I don't really give the process a second thought, but that's just me.

RWB · June 24, 2008 2:13AM

You can be certain that there are multiple cameras recording everything that happens in the vault and coupon rooms. Look at the lens in your cell phone - could you find it from 10 feet away amidst hundreds of identical-looking dots?

MadMarty · June 24, 2008 2:13AM

What kind of key does it use? If it looks like a regular key, yes they can be picked. If it used a standard bank box key, flat with notches cut in it they have to be drilled, they can't be picked.

notwilight · June 24, 2008 2:18AM

I'm sure there are cameras and if someone walked in carrying a severed hand they might get suspicious.

Seriously, the hand geometry system works well and is in use at many high security industrial facilities around the nation. And of course they have a log of who is in there when if something were to go awry. Have you ever picked a lock?

--Jerry

fishcooker · June 24, 2008 2:22AM

Our bank is that way. I like it because I can be in,drop something off, and out within 60 seconds.

19Lyds · June 24, 2008 2:28AM

<< I'm sure there are cameras and if someone walked in carrying a severed hand they might get suspicious.

--Jerry >>

You crack me uo Jerry!

57loaded · June 24, 2008 2:32AM

i like that idea, what bank?, do they plan on retro-fitting the other branches.

soemtime it's hit and miss.....i can get in an out PDQ usually anyway, just like to have the young brunette escort me in rather than the manager....lol

fastrudy · June 24, 2008 2:45AM

they can't be picked

There exists a lock that can't be picked? I doubt that!

link

edited to insert link

Mikensay · June 24, 2008 2:49AM

I got rid of my SDB a few months ago after reading about how states, CA leading the pack, have been working with banks and taking boxes under the guise of being abandoned, even though the owners were paying their monthly/annual fees for the boxes. The gov't would confiscate the valuables, auction them off and then put the proceeds in the general fund. But that's me, I'm paranoid of the government. Don't trust them and never will.

If you keep a SDB, I'd make sure you are familiar with the bank manager and visit your SDB often.

topstuf · June 24, 2008 3:19AM

I use my mailbox because tampering is a CRIME!

But I don't put the flag up when I add a coin.

seateddime · June 24, 2008 3:23AM

a bank has many saftey features, remember they are keeping thier cash there too.

Mikensay · June 24, 2008 3:29AM

<< I use my mailbox because tampering is a CRIME!

But I don't put the flag up when I add a coin.

>>

Hey, not a bad idea. What's your address?

MadMarty · June 24, 2008 3:31AM

<< they can't be picked

There exists a lock that can't be picked? I doubt that!

link

edited to insert link >>

Very true, but the old straight keys are much harder than tumbler locks. A long time ago I worked for a security company and we would have to drill/pick unpaid SDB.

topstuf · June 24, 2008 3:49AM

<< Very true, but the old straight keys are much harder than tumbler locks. A long time ago I worked for a security company and we would have to drill/pick unpaid SDB. >>

Always wondered. Is that because of DIFFICULTY or just to add a third party for lawsuit shenanigans?

lcoopie · June 24, 2008 4:47AM

I believe that the boxes can be opened with a sledgehammer, but am not sure

One area of concern, is if you have to walk through the main portion of
the bank on the way to the viewing room
or if that pathway is secure as well

richardshipp · June 24, 2008 4:50AM

There might also be technology in place that ties the hand scanned to a particular box. Maybe if the scanned hand doesn't match a particular box when opened there is some sort of notification.... or maybe you're just shot dead ?

Barndog · June 24, 2008 4:52AM

<< There might also be technology in place that ties the hand scanned to a particular box. Maybe if the scanned hand doesn't match a particular box when opened there is some sort of notification.... or maybe you're just shot dead ? >>

that's right. It happened to me earlier today.

ricko · June 24, 2008 4:53AM

First of all - If you have a SDB- you ARE paranoid.... case closed.

Second, Marty... there is NO lock that cannot be picked - Period. Cheers, RickO

Elcontador · June 24, 2008 5:25AM

Banks are required by California law to give customers an escheat notice if there has been no activity on an account for two years. The notice states that if there is no activity in said account for an additional year, it is turned over to the custody of the state, where it lies dormant for an additional period of time (a number of years). Only after this additional time, are such assets auctioned off and the proceeds used for the general fund.

Furthermore, some bank accounts are not linked to a safety deposit box. Here, it is possible for a dormant account to become a ward of the state while the safety deposit box is retained by its rightful owner. In short, you are being incredibly paranoid. If your safety deposit box fees are being paid, you have nothing to worry about.

I have kept my coins in a safety deposit box for many years, and I think anyone who does otherwise (unless he is constantly flipping coins and keeping them in a safety deposit box is impractical), is asking for trouble.

ricko · June 24, 2008 5:37AM

Come oooonnnn trouble....

Cheers, RickO

Silverstate · June 24, 2008 5:38AM

<< I'm sure there are cameras and if someone walked in carrying a severed hand they might get suspicious.

Seriously, the hand geometry system works well and is in use at many high security industrial facilities around the nation. And of course they have a log of who is in there when if something were to go awry. Have you ever picked a lock?

--Jerry >>

Jerry,
That is funny but....Look what is on eBay.
Safe Deposit Box locks and keys - Supplies

Oh and the pick...
Tubluar Lock pick setup

And we can detect the cameras ....
Hidden Camera Detection tool

Mikensay · June 24, 2008 6:48AM

<< Banks are required by California law to give customers an escheat notice if there has been no activity on an account for two years. The notice states that if there is no activity in said account for an additional year, it is turned over to the custody of the state, where it lies dormant for an additional period of time (a number of years). Only after this additional time, are such assets auctioned off and the proceeds used for the general fund.

Furthermore, some bank accounts are not linked to a safety deposit box. Here, it is possible for a dormant account to become a ward of the state while the safety deposit box is retained by its rightful owner. In short, you are being incredibly paranoid. If your safety deposit box fees are being paid, you have nothing to worry about.

I have kept my coins in a safety deposit box for many years, and I think anyone who does otherwise (unless he is constantly flipping coins and keeping them in a safety deposit box is impractical), is asking for trouble. >>

I know this is probably the exception, but enough of these exceptions are enough to make me paranoid.
See this story...

http://abcnews.go.com/GMA/story?id=4832471&page=1

PawPaul · June 24, 2008 9:56AM

i personally would get all your coins in a big pile , sit on that pile in a dark room by a window -

have your gun pointed out that window ;

and shoot anything that moves !

Cameonut · June 24, 2008 10:07AM

My branch has a setup similiar to the OP. Hand scanner to vault, one key, no camera in the vault. A separate small room is available to work in.

I love this system. I don't have to bother any bank personnel, and I can get in and out quickly.

As far as security goes, I still have to go past the receptionist. Since we are on a first name basis I would be obvious to her if an unsavory person was with me. In addition, you must past several cameras to get to the vault area. So I feel pretty safe while I am in the bank.

I also keep a tiny amount of low value coins in the house. These are in an unlocked drawer in my office just in case I ever answer the door and am looking down the barrel of a handgun. That way I can give the scumbag a box of cheap shiny coins that look expensive, but are not.

Mikensay · June 24, 2008 10:28AM

<< i personally would get all your coins in a big pile , sit on that pile in a dark room by a window -

have your gun pointed out that window ;

and shoot anything that moves ! >>

I must have forgotten to turn off my webcam.

stockwiz · June 24, 2008 12:14PM

Thanks for the input.. so these safe deposit keys are generally harder to pick then a regular key then.. that's good to know. Not like stick a paper clip in there, and it's unlocked, or anything. (I do have an old home safe with those same style keys as used in safe deposit boxes albeit simpler in design that can be picked with a paper clip)

Sure there are cameras along the way, but in theory, if one wasn't to visit their box for a year, and suddenly did and the contents were missing, there would be no way to know exactly who and when the items were stolen unless there is some sort of electronic detection on each box that alerts when the box is opened, or of course cameras installed.

I'll probably go visit and ask more questions, but it doesn't sound like there's too much to worry about.

There's no small room in mine, it's a relatively large room with some safe deposit boxes jutting out in the middle, forming 2 areas where privacy can be obtained. At least 1000 boxes, if not more. My key is 4 thousand something.. I'll get a count when I go back again

ricko · June 25, 2008 12:48AM

And the SDB fees, cumulatively, outpace the value, even the increase in value, of your coins.... So your investment increases, while real value (redeemable) decreases.. in addition, you do not have the pleasure of your collection at hand. Ridiculous. To each his own.. however illogical ... come to think of it .. beanie babies were illogical too... oh yeah.. a lot of people took a financial bath on them as well. Cheers, RickO

CertifiedGoldCoins · June 25, 2008 1:16AM

My bank (with a timelock vault door two feet thick) requires me to see a teller, state the box number, sign in, and be escorted inside. Their key and mine are needed. I use a private room, and need the teller again on the way out. I wouldn't consider any other system to be secure, and I'd pick another bank if they didn't follow these steps.

The icing on the cake is that everybody in the place knows me, and no one else could use one of my keys. Even my wife.

safe deposit box question

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