OT: HSBC to close Safety Deposit boxes

[Davey]

I have had an account with Midland/HSBC since my student days, and a
safety deposit box with them since the late '70s, but now they have
decided to cancel the deposit box service, and we have to remove our
documents within 60 days. So where do we put them now? I have always
considered that safety deposits were a standard part of what banks did
for customers. No longer, it seems.

I complained, and was told that I could go to the Ombudsman, but I
don't reckon that would get me anywhere, as they have not done
anything to cheat me of money.

Grrr.

--
Davey.

[Bob Eager]

They must be one of the few banks who still had them. You were probably
lucky to have hung onto it for so long!

This might help:

https://goo.gl/2xPS85


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[Andrew]

On 10/05/2017 12:44, Bob Eager wrote:
> On Wed, 10 May 2017 12:34:08 +0100, Davey wrote:
>
>> I have had an account with Midland/HSBC since my student days, and a
>> safety deposit box with them since the late '70s, but now they have
>> decided to cancel the deposit box service, and we have to remove our
>> documents within 60 days. So where do we put them now? I have always
>> considered that safety deposits were a standard part of what banks did
>> for customers. No longer, it seems.
>>
>> I complained, and was told that I could go to the Ombudsman, but I don't
>> reckon that would get me anywhere, as they have not done anything to
>> cheat me of money.
>
> They must be one of the few banks who still had them. You were probably
> lucky to have hung onto it for so long!
>

Even luckier than those whose branch was closed and the contents of
their 'safe' box gone awol.

[Brian Gaff]

Its just another thing that is considered a minority thing. Self storage and
such like has made it rather hard to justify doing it for free these days.
Brian

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[Robin]

On 10/05/2017 12:34, Davey wrote:
> I have had an account with Midland/HSBC since my student days, and a
> safety deposit box with them since the late '70s, but now they have
> decided to cancel the deposit box service, and we have to remove our
> documents within 60 days. So where do we put them now? I have always
> considered that safety deposits were a standard part of what banks did
> for customers. No longer, it seems.
>

Much depends on why the documents are so important to you that you need
secure, off-site protection. Some people find they have few if any
documents with monetary value. Eg land registration (which can be done
voluntarily) means deeds have much less (if any) worth; wills can be
lodged with the Probate Registry for safe keeping (with a certified copy
kept for those who are really paranoid - like me); and even "bearer
shares" can be on a register. For the rest (including eg your backups if
you don't have it all in the cloud) a "fireproof" document safe may suffice.

But I naturally don't expect you to tell us that you *really* want a
home for your 500 carats of diamonds and 10 kilos of gold ;)

--
Robin
reply-to address is (intended to be) valid

[Dave Plowman (News)]

In article <oeutl9$cpo$3...@dont-email.me>,

Barclays did this years ago. ;-)

Of course things like house deeds no longer have the significance they
once had.

--
*Monday is an awful way to spend 1/7th of your life *

Dave Plowman da...@davenoise.co.uk London SW
To e-mail, change noise into sound.

[Martin Brown]

They don't go AWOL even then but you have to punch through a layer of
phone bureaucracy to make an appointment to visit a non-existent branch
(ie find out which branch they transferred the sort code to - it gets
quite hairy when they have done this more than once already).

It happened to me when they closed my father's local NatWest branch in
Manchester without any warning when I was his executor. They didn't
notify him because he was deceased or me because they had no mechanism
to connect their archaic legacy safe deposit box records to existing
customer addresses. The first I knew I had a problem was when I tried to
book an appointment at the branch only to be told it did not exist. This
was more than a little alarming as it contained house deeds.

Searching Manchester Evening News archive showed it had closed suddenly
about a week before I made the phone call. I don't think staff had much
warning of the impending closure either as I had been in a month or so
earlier. And it was a fairly busy branch so a puzzle why it closed.

The boxes had all moved to a surviving branch in Swinton as I recall.
Even then there was a rule that if you took the box off bank premises it
could never be returned (and that had been so for a few years).

I doubt you will find any banks offering this service now.

--
Regards,
Martin Brown

[Davey]

On Wed, 10 May 2017 13:50:17 +0100
Robin <rb...@hotmail.com> wrote:

> Much depends on why the documents are so important to you that you
> need secure, off-site protection. Some people find they have few if
> any documents with monetary value. Eg land registration (which can
> be done voluntarily) means deeds have much less (if any) worth; wills
> can be lodged with the Probate Registry for safe keeping (with a
> certified copy kept for those who are really paranoid - like me); and
> even "bearer shares" can be on a register. For the rest (including eg
> your backups if you don't have it all in the cloud) a "fireproof"
> document safe may suffice.

I used to keep records in there when I spent long periods of time away
from home (years at a time), but that has finished. Now, the main
contents of the box are historical house deeds, and a flat lease. That
has no copy at the Land Registry. The interest in the property does,
but not the terms which are an integral part of the lease.

I will now look for a suitable fire-resistant bolt-downable safe, as the
only viable alternative.

Personally, I would be as likely to keep stuff 'in the cloud' as fly to
the moon.

--
Davey.

[Robin]

On 10/05/2017 14:19, Davey wrote:
<snip>

>
> I used to keep records in there when I spent long periods of time away
> from home (years at a time), but that has finished. Now, the main
> contents of the box are historical house deeds, and a flat lease. That
> has no copy at the Land Registry. The interest in the property does,
> but not the terms which are an integral part of the lease.
>

I seem to recall that with an unregistered (short) lease a photocopy of
your copy is as good as the original copy - although it never hurts to
certify it - so you could cheaply keep a copy off-site. But you could
ask in uk.legal.moderated for further and better advice.

[Tim Watts]

On 10/05/17 12:44, Bob Eager wrote:
> On Wed, 10 May 2017 12:34:08 +0100, Davey wrote:
>
>> I have had an account with Midland/HSBC since my student days, and a
>> safety deposit box with them since the late '70s, but now they have
>> decided to cancel the deposit box service, and we have to remove our
>> documents within 60 days. So where do we put them now? I have always
>> considered that safety deposits were a standard part of what banks did
>> for customers. No longer, it seems.
>>
>> I complained, and was told that I could go to the Ombudsman, but I don't
>> reckon that would get me anywhere, as they have not done anything to
>> cheat me of money.
>
> They must be one of the few banks who still had them. You were probably
> lucky to have hung onto it for so long!
>
> This might help:
>
> https://goo.gl/2xPS85
>
>

Metrobank, who are a new bank (well new in the UK) offer the service.

[Tim Watts]

On 10/05/17 14:07, Martin Brown wrote:

> I doubt you will find any banks offering this service now.
>

https://www.metrobankonline.co.uk/safe-deposit-boxes/

[John Rumm]

On 10/05/2017 13:57, Dave Plowman (News) wrote:
> In article <oeutl9$cpo$3...@dont-email.me>,
> Davey <da...@example.invalid> wrote:
>> I have had an account with Midland/HSBC since my student days, and a
>> safety deposit box with them since the late '70s, but now they have
>> decided to cancel the deposit box service, and we have to remove our
>> documents within 60 days. So where do we put them now? I have always
>> considered that safety deposits were a standard part of what banks did
>> for customers. No longer, it seems.
>
>> I complained, and was told that I could go to the Ombudsman, but I
>> don't reckon that would get me anywhere, as they have not done
>> anything to cheat me of money.
>
> Barclays did this years ago. ;-)

Yup they moved lots of stuff to a central document storage facility, so
you have to book to have it moved to a branch when you want access to it.

> Of course things like house deeds no longer have the significance they
> once had.

That odes depend a bit on if the property has changed hands recently
enough to make it onto the electronic land reg site.


--
Cheers,

John.

/=================================================================\
| Internode Ltd - http://www.internode.co.uk |
|-----------------------------------------------------------------|
| John Rumm - john(at)internode(dot)co(dot)uk |
\=================================================================/

[Davey]

Hmm, thanks. Maybe some research is due.

--
Davey.

[Davey]

Hmm. Cambridge or Colchester are the nearest, and that's stretching it.
And they are not cheap. But if they are the only one offering the
service, they are worth considering.
Thanks.

--
Davey.

[Robin]

On 10/05/2017 15:21, John Rumm wrote:
>
>> Of course things like house deeds no longer have the significance they
>> once had.
>
> That odes depend a bit on if the property has changed hands recently
> enough to make it onto the electronic land reg site.
>
>

Voluntary first registration might work out cheaper if deeds are the
sole or main reason for a safety deposit box. Depends on value but eg
£200,001-£500,000 attracts a fee of £200. Plus solicitor's fee if not
DIY'd.

[Adam Funk]

...& where he's storing it temporarily. Just out of curiosity, you
know!

[Mobilohm ...]

"Davey" <da...@example.invalid> wrote in message
news:oeutl9$cpo$3...@dont-email.me...

never trust a chinky bank .....

[Bob Eager]

Which is what (inter alia) the link says.

I wonder how much they charge to make it viable.

[Martin Brown]

On 10/05/2017 15:48, Robin wrote:
> On 10/05/2017 15:21, John Rumm wrote:
>>
>>> Of course things like house deeds no longer have the significance they
>>> once had.
>>
>> That odes depend a bit on if the property has changed hands recently
>> enough to make it onto the electronic land reg site.
>>
> Voluntary first registration might work out cheaper if deeds are the
> sole or main reason for a safety deposit box. Depends on value but eg
> £200,001-£500,000 attracts a fee of £200. Plus solicitor's fee if not
> DIY'd.

Just been through that loop with my mum's house. Took Land Registry over
6 months to process it but solicitors fees were very reasonable. They
recommended voluntary registration in parallel to the probate
application anticipating the long delays at the Land Registry office.

--
Regards,
Martin Brown

[Allan]

On 10/05/2017 12:34, Davey wrote:

Barclays offer a service called Barclaysafe
http://www.barclays.co.uk/P1242664222701
You get a plastic bag ("pouch") which is stored off-site, and you have
to request it (either sent to branch or your home).
Monthly fee and retrieval fee. Docs only, no e.g. DVDs. I think they
used to have a similar service for valuables, but I think that ceased
(but I could be worng).
Works quite well. I use it for life insurance policies and such (have
scans and copies at home).
Allan
(just a customer of Barclays)

[Davey]

Yes, I think that's how the management company that runs the building
with a flat we have does it now. The last time I had to be present at
an opening, to change some of the leases, it had to be booked some time
in advance, which matches that idea.
I hate the idea of changing bank just so that I can have some kind of
deed box, but it is worth considering. Then they would close their
scheme down a month after I had moved everything! Maybe have a second
account at Barclays, and keep my main one at HSBC.
Thanks for thoughts.

--
Davey.

[Dave Plowman (News)]

In article <eniurm...@mid.individual.net>,

That's interesting. When my branch closed a few years ago, I wasn't
offered such a service. Just told to collect my documents. Perhaps they
had a re-think?

--
*Snowmen fall from Heaven unassembled*

[Allan]

I did have a phone droid at Barclays try to persuade me one day that
they don't have such a service, then he went and checked and admitted
they do, so perhaps it's not widely known about. Or maybe they're just
keeping it running to existing users, or something of that ilk.

I believe Barclaysafe outsourced to a third-party but badged as
Barclays, but ICBW.