Thread Options Tools
#1047088 - 09/22/08 04:25 PM Bank failure question
Comply Offline
Gold Star
Joined: Oct 2003
Posts: 291
In the event that a bank should fail and be taken over, would customers still have access to their safe deposit boxes. Since those contents are not FDIC insured?

Return to Top
General Discussion
#1047136 - 09/22/08 04:50 PM Re: Bank failure question Comply
Plain Old Tom Offline
100 Club
Joined: Oct 2007
Posts: 217

Return to Top
#1047599 - 09/22/08 09:41 PM Re: Bank failure question Plain Old Tom
KC Danimal Offline
Platinum Poster
KC Danimal
Joined: Sep 2005
Posts: 923
Kansas City
I was employed at a bank that failed back in the early 90s. We were closed at 5pm Friday and re-opened at 9am Saturday morning under a new owner. Safe Deposit access was not affected. Customers never lost access to their box or the box's contents. The FDIC did an inventory of keys for un-rented boxes, but spent no time at all on any issues involving rented boxes.
Opinions are mine and not necessarily those of my employer

Return to Top
#1047790 - 09/23/08 04:58 AM Re: Bank failure question KC Danimal
cbinder63 Offline

Platinum Poster
Joined: Dec 2001
Posts: 674
If you read the press releases on the banks involved, it shows the following (example from the most recent):
You may continue to use the services to which you previously had access, such as, safe deposit boxes, night deposit boxes, wire services, etc, as normally available at each branch.
Opinions expressed are my own.

Return to Top