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afastow | 1 year ago

They're just different things. The FDIC insurance is for if the bank itself goes insolvent and they literally don't have enough money to cover their depositors' balances anymore. There's no reason a safe deposit box would be affected.

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kgwgk|1 year ago

Yes, they are different things. A safe deposit box wouldn't be affected by the banks insolvency.

A safe deposit box may be affected by other things and if those things happen they don't have to "make it right", if you go to the courts and make your case you may find that they are not at fault and you are not owed any compensation.

throwaway290|1 year ago

A fire, a flood, a robbery...

bburnett44|1 year ago

Is a bank deposit box not insured against those things? I've never really thought about it but always assumed they would be