why doesnt any1 offer deposit accounts????????????!!!

TK2020

Apologies for asking about Safety Deposit Boxes again, however judging from the number of views, there is interest in the topic. Does anyone know where in Scotland (preferably Glasgow) one can store valuables given that banks appear to have withdrawn they're safety deposit boxes across the board .

Storing them at home in a safe is my least preferred option - so a security company or something similar would be perfect

Thanks

opinions4u

I don't understand the urge to own something valuable and lock it in a vault several miles away where you can't enjoy it.

Hominu

There are still places that do it, but I prefer to keep my valuables insured and locked up at home. Why? You need insurance even if you put them in a bank and the bank will not be held responsible if the deposit box goes missing or is stolen. The only advantage is that its more difficult (but not impossible) to steal from a bank, but if no one knows what you've got, then they are unlikely to target you.

Remember the media stories about Barclays Bank accidentally losing someone's safety deposit box and saying that they had no idea where it was? They also had no idea what was held inside, so they could only offer a token compensation.

JuicyJesus

opinions4u wrote: »

I don't understand the urge to own something valuable and lock it in a vault several miles away where you can't enjoy it.

I suppose in case you're worried about burglary. But statistically you're incredibly unlikely to be burgled in any event.

Also, some Muslims put cash for savings in there, viewing banks themselves as usurers. Sticking cash in a metal box and putting it in a bank vault doesn't attract interest.

innovate

JuicyJesus wrote: »

I suppose in case you're worried about burglary.

Buy a decent safe. Over a number of years, it costs a fraction of a deposit box held by a commercial organisation.

mrmajika

I can confirm that a number of RBS branches in and around Glasgow offer this kind of service.


I have no idea of costs.

EDIT: Actually, having just looked, I think it's only for existing customers nowadays.

The_pc_tech

JuicyJesus wrote: »

Also, some Muslims put cash for savings in there, viewing banks themselves as usurers. Sticking cash in a metal box and putting it in a bank vault doesn't attract interest.

Except from bank robbers :rotfl:

Sorry, couldn't resist.

Seriously though, the article does state some of the branches are running out of space.

Reminds me of a conversation with a customer at work who asked why we had to limit the storage space on an e-mail account when Google was offering unlimited.

I explained we had to accommodate storage devices.

JuicyJesus

innovate wrote: »

Buy a decent safe. Over a number of years, it costs a fraction of a deposit box held by a commercial organisation.

Indeed. I'm not saying it's a better idea, just that that's why some people go for safe deposit boxes.

agrinnall

JuicyJesus wrote: »

Also, some Muslims put cash for savings in there, viewing banks themselves as usurers. Sticking cash in a metal box and putting it in a bank vault doesn't attract interest.

Putting it in most current accounts won't attract any interest either, and wouldn't run the risk of the bank losing the box .

And as there are now several Islamic banks operating in the UK which presumably meet any religious requirements I suspect there may be other factors at play if cash is being stored in a safety deposit box.

fjh

RBS don't offer this for new customers