09 March 2024

5 Reasons Not to Use a Safe Deposit Box

Safe deposit box at a bank
Elena Butinova / Shutterstock.com

Despite being one of the most highly regulated industries in the U.S., banks take little to no legal responsibility for the contents of their safety deposit boxes. If popular heist films like “Ocean’s Eleven” aren’t enough warning, here’s a depressingly real anecdote: A few years ago, The New York Times told the story of Philip Poniz in “Safe Deposit Boxes Aren’t Safe.” For three decades…



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