Bank Safe Keeping Service Vs Traditional Safe Deposit

Bank Safe Keeping Service Vs Traditional Safe Deposit

The link below details a case in the UK where a Church used Lloyds Bank to store some of their artefacts. The article alleges that the Church are finding it difficult to retrieve the items from Lloyds Bank and conclude that they may have been lost.

Most UK Banks offered Safe Keeping facilities to their customers. The main difference between a safe keeping service and a traditional safe deposit is that items stored are merely placed in the Banks vault – not in a individual safe that the client has complete control over.

This story appeared in The Daily Telegraph but there have been numerous stories over the years of items going missing from Bank Safe Keeping services.

Worse still, as Banks either stop Safe Keeping services or centralise customers valuables in a national vault (meaning accessing valuables entails having them sent by registered post), the opportunity for error increases.

A private Safe in a St James Safe Deposit vault offers customers complete peace of mind as they have control of their individual safes and can access their treasured items as often as they wish.

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