safety deposit box and firearms.

[zxcvbob]

im wondering. i never had a safety deposit box at a bank. no idea whats involved but i hear its for valuables. whats more valuable than a good handgun?

does the law allow this? do banks allow this? are the safety deposit boxes checked? are there cameras in there? i don't even know how big they are and if a glock 19 would even fit.

this would be for a spare handgun of course.

The boxes come in all different sizes. I think a full-size pistol would fit in the smallest box just fine. If not, rent one size larger.

The bank doesn't even want to know what's in your box. Just bring it in in a money pouch or a briefcase. Perfectly legal -- in most states anyway.

Some places like Commiefornia allows the state to enter the box and remove its contents. So, if you do, go at least once a year to keep the box "active" on the bank's books. Even if you pay for it, if the box isn't visited, the bank may close it. I know Chase will but luckily I got there before hand.

Are you sure about that? You might be right, I guess, but that sounds more like a dormant savings or checking account.

 

[Brian Pfleuger]

Are you sure about that? You might be right, I guess, but that sounds more like a dormant savings or checking account.

I think the boxes do go "dormant" or something similar after awhile. I never dealt with that side so I don't know the time frame or rules when it happens or how often you have to visit to keep it from happening... and it may vary by state.

 

[cajun47]

Settle down, and review TFL rule number 3, please.

 

[Isk]

I was thinking of the FDIC law, but I see now it takes more than just being insured for that to apply. That's probably why I said "I believe" and "look into that".

 

[FrankenMauser]

Are you sure about that? You might be right, I guess, but that sounds more like a dormant savings or checking account.

Every state I know of has laws to allow the liquidation of safe-deposit box contents.

When that happens, depends on two things:
1. State law.
2. Company policy.
3. If the fees are being paid.

Most states allow safe-deposit box contents to be turned over by the bank, or auctioned off at the 7 or 10 year mark (which method they use, depends on state law). However, most states don't require action at those times. Most allow willing companies to hold the contents as long as they wish.

Some banks will hold the contents as long as the box rental fee is being paid.

Whether it is the bank, or the State that auctions the contents off, the money is turned over to the State's Unclaimed (or Abandoned) Property office/division.

My mother has been working for the Utah State Division of Unclaimed Property for 20 years. I am most familiar with the laws in Utah, but have learned that most states have the same basic set of laws (with slight variations, where desired).

Don't let your box go dormant for more than a few years (and make sure the fees are paid). Having it emptied and turned over to the state (or emptied and auctioned), is a very real possibility.

but you probably don't want to be the "guy with a gun", in a bank (whether you're "depositing" or "withdrawing").

Why not?

I carry in my bank all the time, both when depositing and when withdrawing. AFAIK it's not against any law, and the banks have no signs saying "No Weapons."

Some states DO have laws against firearms in banks, and most banks around here DO have "no firearms" signs.

 

[Justice06RR]

The scene from "Bourne Identity" comes to mind where he picks up his deposit box with loads of money, passports, and a Sig pistol. Lol.

Why not just keep the firearm stored in your home instead? I don't really trust banks... all they do is take your money.

 

[zxcvbob]

You keep most of your pistols stored in your house. You keep one or two somewhere else in case your house burns down or the government seizes all your guns (that they know about.) Safe deposit box sounds like a fine idea to me.

It doesn't take the "end of civilization" situation either. Let's say you shoot a burglar or attempted rapist who breaks into your house, and the sheriff comes and takes *all* your guns, not just the one you shot the bad guy with. Do you really want to be defenseless if the BG's kinfolks come looking for you? Assume there's a waiting period on buying a new gun, or the sheriff somehow puts a temporary block on you getting NICS approved.

 

[Crazy88Fingers]

I think the boxes do go "dormant" or something similar after awhile. I never dealt with that side so I don't know the time frame or rules when it happens or how often you have to visit to keep it from happening... and it may vary by state.

That doesn't sound right. As long as you're paying the fee I don't see why a bank would foreclose on your safety deposit box and give up free money every month.

And, if I recall, you aren't allowed to carry a firearm into a federal bank. Private banks will vary.

 

[Mike Irwin]

"That doesn't sound right. As long as you're paying the fee I don't see why a bank would foreclose on your safety deposit box and give up free money every month."

It won't.

Escheating the contents of a safe deposit box to the state normally requires that the box be abandoned (no rent paid, no one visiting) for a number of years -- 5, I think -- and multiple attempts must be made to reach the registered owner.

 

[Brian Pfleuger]

And, if I recall, you aren't allowed to carry a firearm into a federal bank. Private banks will vary.

What exactly is a "federal" bank?

 

[Hardcase]

About 25 years ago, I went to the bank with my mom and dad where they were clearing out their safety deposit box. Among other things, dad had a Colt Police Positive Target revolver in .22WRF and a Colt New Army .38 in it.

Some of the other things? My first baby shoes, dad's first pair of glasses, my sister's christening cup and one of my mom's first dolls.

Excluding the two guns, the total value of the stuff? Probably just about zero. The sentimental value? Priceless, of course. It was the craziest bunch of stuff I've ever seen in a safe.

Idaho's gun laws haven't changed much, other than to get a little laxer, maybe.

 

[Aguila Blanca]

I suppose if something is "priceless" and impossible to replace, conventional rules no longer apply. Insurance is of no use with respect to something that has zero monetary value but infinite sentimental value. I understand your parents' reasoning completely.

 

[Crazy88Fingers]

What exactly is a "federal" bank?

Federal reserves and whatnot? I'm not sure. I never go into federal banks, so I never really cared enough to look into the law. Of course, I could be wrong about the whole thing.

 

[JBriggs]

I have stored firearms with in my safety deposit box before. First, you must speak with the manager and tell them what you want to do. Second, no ammunition will be allowed to be stored with the firearm. Third, must be in a locked case (key cannot be with the case nor in the deposit box). Fourth, bank representative will be the one to actually bring the forearm into the bank. Fifth, they will watch you put in your box.

When you want to remove it from your box, the bank will have you take it out of your box and give it to them to carry outside to the parking lot.

I did this for several years, but became a hassle to retrieve my babies.

 

[Skans]

There is no way tha I'm leaving any gun with a bank. It makes me quite queezy just to leave my money with them. 1. They are not gun friendly. 2. They charge excessive fees for pittiful service. 3. Too easy to lose safe deposit key. 4. Limited hours of operation. 5. Extreme Hassle to retrieve and "fondle" or shoot when I want to.

I'd much rather spend the money on building a heavy duty floor safe with the same dimensions at a safe deposit box. In fact, if I ever get to design my own home, I'm including a vault room.

 

[Aguila Blanca]

First, you must speak with the manager and tell them what you want to do. Second, no ammunition will be allowed to be stored with the firearm. Third, must be in a locked case (key cannot be with the case nor in the deposit box). Fourth, bank representative will be the one to actually bring the forearm into the bank. Fifth, they will watch you put in your box.

What's the source of these requirements? I've never heard of any such restrictions. Is this based on your state's laws, or is this from the rules of whatever bank you were dealing with?

 

[Brian Pfleuger]

What's the source of these requirements? I've never heard of any such restrictions. Is this based on your state's laws, or is this from the rules of whatever bank you were dealing with?

I would virtually guarantee that it's the "oh crap we have to invent a policy because no one ever asked" policy.

I'd ask the bank NOTHING except "Can I have a copy of your rules regarding safe deposit boxes". What's written is the rule. Anything else is beuracratic bull.

 

[Onward Allusion]

cajun47
safety deposit box and firearms.
im wondering. i never had a safety deposit box at a bank. no idea whats involved but i hear its for valuables. whats more valuable than a good handgun?

does the law allow this? do banks allow this? are the safety deposit boxes checked? are there cameras in there? i don't even know how big they are and if a glock 19 would even fit.

this would be for a spare handgun of course.

No better place for 'em for long term storage. Keep ammo, money, disposable cell + charger, alternate passports, & prepaid credit card with 'em too.

 

[johnbt]

I've had safety deposit boxes for decades and I don't believe the contents are insured. One of the tropical storms that blew through here dumped 14" of rain in an afternoon and flooded a branch bank's vault. The newspaper articles said that the contents were not insured.

Your homeowner's might cover a theft, but fire and rain, ha. Bombs? Forget it.

Here...

www.bankrate.com/brm/news/insur/20030117a.asp

 

[wally626]

Quote:
Originally Posted by JBriggs
First, you must speak with the manager and tell them what you want to do. Second, no ammunition will be allowed to be stored with the firearm. Third, must be in a locked case (key cannot be with the case nor in the deposit box). Fourth, bank representative will be the one to actually bring the forearm into the bank. Fifth, they will watch you put in your box.

What's the source of these requirements? I've never heard of any such restrictions. Is this based on your state's laws, or is this from the rules of whatever bank you were dealing with?

NC bans carry in financial institutions, so the reason for the procedures would be due to state law.