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Bank cannot locate Safe Deposit Box
HawkE
Posts: 51 Forumite
I am new here and this is my first post.
I am an executor for someone who had a safe deposit box with a bank. I have Grant of Probate which has been sent to the bank together with a request for release of the box as well as some money in an account. The bank has done it's checks on my identity and released funds that were in the bank account but I had to chase to ask why I had not heard about the safe deposit box.
Upon phoning, I have been told it has not yet been located even though the request was made 5 weeks ago. I was also told that various branches have been contacted without success, that the location of the box is not recorded on their system and that they cannot give a timescale as to how long it will take for them to locate it.
Does anyone have any experience of this situation as I would have thought that it would have to be bank procedure to keep a very strong audit trail of such boxes.
I am an executor for someone who had a safe deposit box with a bank. I have Grant of Probate which has been sent to the bank together with a request for release of the box as well as some money in an account. The bank has done it's checks on my identity and released funds that were in the bank account but I had to chase to ask why I had not heard about the safe deposit box.
Upon phoning, I have been told it has not yet been located even though the request was made 5 weeks ago. I was also told that various branches have been contacted without success, that the location of the box is not recorded on their system and that they cannot give a timescale as to how long it will take for them to locate it.
Does anyone have any experience of this situation as I would have thought that it would have to be bank procedure to keep a very strong audit trail of such boxes.
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Comments
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You would have thought so - but such things don't exist any more, so it's a question of what happened to it when the service was discontinued.
It may even be your relative withdrew the contents of the box at that time.0 -
The service was not discontinued and was in place when the bank was sent the Grant of Probate and requested to release funds.0
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The service was not discontinued and was in place when the bank was sent the Grant of Probate and requested to release funds.
Well most banks have discontinued the service. Maybe some have kept it on for existing customers.
You've one course of action - make a formal complaint. If it doesn't get resolved, take it to the Ombudsman.
But I expect you know that anyway0 -
I know of one bank where they introduced a centralised "wallet" deposit.
Most don't do box deposit or if they do wit would only be in large outlets or nominated sites. they don't have the staff or the secure space to hold them.
Was your relative being charged for the service? Was a direct debit/standing order being charged with a reference number?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Was your relative being charged for the service? Was a direct debit/standing order being charged with a reference number?
There was a regular charge taken from the account.0 -
There was a regular charge taken from the account.
Was it an automated charge -Standing Order, Direct Debit or a manual one?
Any refernece number?
Who, within the bank generates and authorises the charge to be taken?
What mandate do they have for this?
Do they hold deposit boxes in every branch or only nominated sites. Is it a box provided by your late relative or one rented from the bank?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
The bank involved is...?
I may be able to advise.
..._0 -
Was it an automated charge -Standing Order, Direct Debit or a manual one?
It is a bank charge appearing on the bank statements. Not a standing order or a direct debit which could be cancelled by the account owner. The charge was regular charge levied for many years for the service.
No reference numberAny refernece number?Who, within the bank generates and authorises the charge to be taken?
This I don't know. It is the type of thing I was hoping to get some insight on by posting on the forum.What mandate do they have for this?
The service was requested by the account holder many years back.Do they hold deposit boxes in every branch or only nominated sites.
Nominated sites.Is it a box provided by your late relative or one rented from the bank?
It would be from the bank. What is the relevance of this?0 -
It is a bank charge appearing on the bank statements. Not a standing order or a direct debit which could be cancelled by the account owner. The charge was regular charge levied for many years for the service.
No reference number
This I don't know. It is the type of thing I was hoping to get some insight on by posting on the forum.
The service was requested by the account holder many years back.
Nominated sites.
It would be from the bank. What is the relevance of this?
If the money was being taken right up to death then I would be asking for sight of the agreement signed by the deceased authorising the payment from their account. If they are generating debits to the account i would expect them to be able to justify them. In doing so it may push them to research their records more thoroughly.
Banks often used to accept locked deposit boxes (usually the type you put petty cash in) from customers. that was the reason for my question. It is a lot easier to mover/remove a box than it is to move fixed boxes.
Are you positive that the box or contents of the box haven't already been removed by the deceased and that the bank aren't just taking the charge in error? Do you have a physical receipt for the box?
Are you willing to advise which Bank it is as per digger's request?
Have you raised a formal complaint, with the bank, as a first step to prior to escalation to the ombudsman?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
So what if the box-holder, a week before they died, had gone to the branch and asked for access to the box?
Perhaps you need an appointment, but they can't just not be in a position to produce boxes. Something going on here that they aren't admitting to."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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