Question
A bank closed and my friend did not get a chance to retrieve his safety deposit box. What happens now?
When a bank closes (i.e. goes out of business) I know that the bank informs the holders of safety deposit boxes of their closing and that the holders need to retrieve them. However my friend was out of the country and his "house sitter" did not bother opening up the letter from the bank. Because my friend did not know of this in advance, he had no chance to retrieve it or contact the bank before its closing. I don't know all the exact details however I know that the box was shipped to a place in North Carolina. I assume its another branch of the same bank. But again I'm not sure. Does anyone know the protocol of what to do from here? Would my friend have to fly to North Carolina to retrieve the contents? Could he arrange the box to be shipped back to where he lives? This is an urgent matter so please help if you are familiar with banking and/or this type of situation. THANK YOU!!
4 months ago - 3 answers
Best Answer
Chosen by Asker
If he has proof of being out of the country, then everything should be fine. Shipped to NC huh?? probably a Bank of America/3/5ths or Wachovia bank huh? No, he will not have to fly to NC. First, try contacting the consumer relations department of the bank headquarters. Websites usually give phone numbers and e-mails that will help. Inform them of the situation and explain that he has proof he was out of the country and that his house sitter did not open his mail as that could be classified as a crime without permission to do so. The problem is... they'll probably try to say well, in his contract we specifically listed the proper directions in handling something of this matter. If nothing gets worked out, contact your local BBB and file a complaint. BBB= Better Business Bureau. You could also try the FDIC.gov
by lori
4 months ago
Asker's Rating: 