HSBC safety deposit closure, what can I do?
Along with many other high street banks, HSBC are closing their safe deposit facilities in their UK branches. For the most part all of their safety deposit facilities are now closed largely dependant on their location but the process which started over 5 years ago is set to continue.
Most other UK major banks followed suit leaving only UK retail banks to provide such facilities, such as Santander, State Bank of India, TSB and Virgin Money. This has paved the way for independent specialist safety deposit centres to offer customers an alternative. These companies operate outside of the banking sector and fall into a number of categories. Some are department stores who can offer services to their customers, solicitors who can offer limited storage in their vaults or stand-alone operators who often have smaller locally based facilities with limited volume and are often more associated with silver and gold storage.
As a response to the HSBC Safety Deposit Closure, there has been a significant increase in companies offering safety deposit facilities, there has been an increase in businesses apparently offering bank grade safety deposit services. The reality is, that many of these are simply offering what amounts to a cash box stored in a lockable facility with some level of security.
Many people leaving the banks are left with few options that will match the level of service they once had, or the level of security that comes with a bank vault. A number of these will decide to store their items at home, which brings another level of concern, particularly those with family heirlooms or quantities of gold, silver or jewellery.
Storing at home is not really a good practice. The level of security in most homes is not adequate enough to satisfy insurance policies taken out before those goods were stored. The insurance companies wont pay out of even cover many items unless they have been individually valued or the level of security in the property is increased to suit their requirements. Such sophisticated security measure are beyond most households and the level of investment is such that one would ask, why not just place the goods back into a dedicated facility, it would be cheaper?
MINT Securities, offers local services in Leicester and other location that would surprise many people. Their locations offer state-of-the-art secure vaults that are protected by a plethora of security measures, many one would expect such as cameras that are monitored 24/7, keypad and card security and so on. But many one would not expect from an independent safety deposit operator.
Each location has its own parking which is onsite, meaning you do not have to walk across a busy street, or crowded area to access your deposit box. You are watched from the time you get out of your car to the time you drive away again, not many city centre locations can boast this.
What’s more, our insurance policies mean you are insured personally for the contents of your box, not a ‘block’ insurance that covers the facility as a whole! Very important when you have your valuables stored, you would not want to share a payout with anyone else would you!?
In these times of austerity and cuts in services, it is important that there are options for customers. For those left out in the cold after banks effectively throwing out their customers, there is an option. MINT offer a professional service, with highly trained staff that offer the level of service customers would have been used to on the high street. Customers can book an appointment 7 days a week, sign up can take as little as 30mins with the relevant paperwork.
Keeping valuables safe is probably not on our radar day to day and if you store your items at MINT then you get complete peace of mind, from the day you are handed the keys to your safety deposit box. Protect your past, present and future at MINT.