Safety Deposit Boxes - Bank Safe Deposit Boxes

This article discusses Safety Deposit Boxes - Bank Safe Deposit Boxes. in particular we will discuss how to safeguard your valuables that are stoted in bank safe-deposit boxes.

Valuables stored in bank safe deposit boxes are not automatically protected against loss through burglary, flood, or fire. To be com?pensated for missing valuables, depositors must initiate lawsuits against the bank. The chances of winning are very, very slim.

safty deposit boxex safeguards:
Buy insurance for the contents of the boxes even though reimbursement levels are low. And most negotiable items, such as securities, bank notes, gold, coins, and cash, are not covered.
Alternative: Store stocks and bonds at the brokerage house where they were purchased. These firms have a legal and financial respon?sibility to guard securities stored with them. See Safety Deposit Boxes for more information.
Another option: Open a custody account with a bank. The bank holds securities and other assets in its vault. It collects and credits all dividends, but does not manage the assets. The bank will replace any asset in the vault that is lost, stolen, or harmed. Charges are generally based on the size of the account and the composition of the holdings.

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Another safty issue we would like to discuss here is what to do if you lose your wallet.
You should follow the following steps:
Close your current checking and savings accounts. Open new ones.
Report the loss of credit cards to the issuing companies. You then can't be held responsible for any unauthorized charges.
Apply for a new driver's license. You can usually get a temporary one while you wait.
Call the Social Security office for a new card. It takes three weeks if you know your number.

And yet another safty issue we would like to discuss here is how to spot a fake ID.
Best identification: Photograph, physical description, and signature. Other safeguards:
Repeat some information from the ID card back to the holder, but make a small mistake in repetition. Example: Is your address 733 Lake Dr.? (743 is the real number). Imposters are often unfamiliar with details.
Don't accept IDs that have the name of the state or issuing agency typed in instead of printed. Also, a typographical error is almost always a sign of a fake.
Check wear patterns on old cards. A genu?ine card will be worn mostly around the edges from handling. Some forgers artificially age cards, which gives a uniform look of wear all over the card.
Look for raised edges around photographs, which is a sign that a substitution has been made.
Feel for flaws in laminated cards, another sign of tampering.
Compare the typewriter face on various parts of the card. Reject it if there is a mis?match.
Check the holder's signature against the one on the ID.