Safe Deposit Boxes

Q: May I keep money or guns in my SDB?

A: While there is no law against storing money or guns in a SDB, your rental agreement prohibits the storage of explosives, liquor, narcotics, or any property of an illegal, malodorous or destructive nature.

Q: Can the IRS get into my box?

A: IRS representatives cannot arbitrarily gain access to your box. However, they can serve a Levy and a Notice of Seizure requiring us to freeze the box. The IRS then requests that you open the box in the presence of its representatives. If you refuse, a court order must be issued, requiring the box to be forced open and contents impounded.

Q: Will you accept a general power of attorney or a handwritten note authorizing access to my box?

A: We will not honor either of these requests. We have no way of knowing if these documents have been revoked, whether you are still living or if you were of sound mind when they were signed. Appointing a deputy, agent or guardian are recommended alternatives.

Q:  Will you automatically deduct rent from my account?

A:  After you sign the authorization on your SDB contract, we will be pleased to deduct your annual rent.  This procedure saves us both time and money by alleviating the postage and invoice! We can stay truly EverGREEN!

Q:  Are my box contents insured?

A:  The contents of your box are not covered unless you insure them yourself. To ensure privacy and security, we should never know what is in your box. As a result, coverage under our insurance policy or by any regulatory agency would be impossible. Ask your insurance agent about the available options to insure items stored in the box.

Q: In the event of my death, who is authorized to remove my box contents?

A: If you have a jointly rented box, other authorized renters may remove all contents without restrictions. IF you are the sole renter, access is restricted and only granted to someone who presents a court order. At our discretion we may also grant access to your spouse, parent, adult descendant, a person named as the estate representative in your will or other interested persons. However, only your life insurance policies, burial deed or Will may be removed and delivered to this designated person. Nothing else may be removed until proper estate documents are provided.

Q: If I become sick, disabled or take an extended vacation, can I appoint a deputy to be responsible for my box contents?

A: Deputy appointments are easily accomplished. It simply requires that all renters and the deputy be present during this appointment. The deputy should be given one of your keys for access. It’s important to remember that we take no responsibility for the deputy’s action. Upon proper notification of your death or incompetency, the deputy’s right of access will cease.

Q: What happens if I lose my safe deposit keys?

A: If one key is lost, bring in the remaining key and close the box. If both keys are lost, the box must be forced open in your presence and at your expense. Contact the bank for fee.

Q: What if I don’t pay my box rent?

A: Your rental agreement specifies that you will pay your annual rent one year in advance. If this rent is not paid on or before your specified due date, it is delinquent. We will attempt to notify you by mail. If there is not response, we will take the prescribed action in accordance with state law and the past due clause in your safe deposit contract. Any expenses directly or indirectly incurred in this collection process will be added to your past due rent and your account may be turned to a credit and/or collection agency.

Q: Is your vault fireproof, water-proof or burglarproof?

A: No institution can guarantee 100% vault security.  Vaults are merely ‘resistant’ to fire, floods, burglary and other unavoidable perils.