"I Was In Shock": Woman Finds Her BofA Safe Deposit Box Has Vanished

A safe deposit box should, by definition, be "safe." However, to her surprise, that is precisely the opposite of what a California woman discovered a few days ago.

Susan Nomi said that when she went to open the Bank of America safe deposit box she had for 16 years, the entire box had vanished. The safe is where she kept her family’s jewelry and her dad’s coin collection.

“I was in shock; I was just like what happened to my box,” said Nomi, quoted by CBS Sacramento.

Worse, Bank of America - which was custodian of the safety box - couldn't explain where her valuables went: “They don’t have an answer. They don’t have an answer. They say thanks for letting us know,” Nomi said.

Making matters worse for the infuriated woman, she herself was a retired Bank of America employee of 40 years; and she’s not alone. Others have complained that Bank of America drilled their safe deposit boxes without permission or notice.

Another dissatisfied customer, Wendy Woo, said her belongings were taken out of her safe deposit box and shipped to her by the bank: "Everything was dumped in a plastic bag," said Woo. In the process, a ring went missing and a necklace was damaged in the process.

Safe deposit box... that’s what it’s for, safe,” she said, only not when the safe belongs to Bank of America.

A second family complained that it too had gotten the contents of their safe deposit box shipped back too, but claim $17,000 in jewelry was missing.

"I just got robbed from the bank," another woman complained: "They just took my stuff."

Needless to say, what makes these situations bizarre, is that according to federal rules, banks can drill a box without permission only when there is a court order, search warrant, delinquent rental fees, requests from estate administrators, or if the bank is closing a branch. And yet none of those reasons applies to any of these cases.

Safe deposit box consultant Dave Guinn trains bank employees on proper safe deposit box procedures. He says federal law requires that banks give customers adequate notice.

“A notification should be made either by registered letter or by certified receipt letter,” said Guinn.

Meanwhile, in tis defense BofA said it does “…notify customers by mail in accordance with law well in advance prior to drilling a box.” But former employee Nomi’s not buying it: "I worked for them. It’s not like they couldn’t get a hold of me or anything."

Adding to her Nomi's frustration, Bank of America still can’t explain what happened to her valuables but said, "We certainly understand how frustrating this matter is for Mrs. Nomi and we are working with her on a resolution. We are looking at this situation to help us identify opportunities to help avoid similar events in the future as we continue to work on improving service to our customers." She said "I can’t ever replace it. It’s irreplaceable, doesn’t matter how much its worth."

Eventually, once the CBS news team got involved, the bank finally agreed to cut her a check. BofA also paid to fix Mrs. Woo’s damaged jewelry but left each of them wondering how safe a safe deposit box is.

Nomi has advice for others: “Check what’s in your box,” and “If you haven’t been in it for a while, make sure it’s there.”

The Bank of America rental agreement says they could terminate your rental agreement for your safe deposit box if you don’t give proper identification when requested. The customers in these incidents say that does not apply to their cases.

Banks have strict regulations they must follow, one being they have to have two keys to get into a box, yours and theirs. Plus, if a box has been drilled open, the bank must have a record of it being drilled.

So for all those readers who still hold gold in a bank vault, confident it will be there come rain or shine, now may be a time to quietly take it all out and have a small boating accident...

Comments

Bubba Rum Das Cryptopithicus Homme Thu, 07/26/2018 - 20:06 Permalink

What's criminal about the whole thing as that the banks have 24/ 7 video surveillance going on inside these safes, everywhere at all times for the purposes of identifying anyone who might possibly break in or commit armed theft.

Those Butt Fuckers at B of A know EXACTLY where the 'missing' property went that was inside those safe deposit boxes; they just don't want to deal w/ the increased insurance rates & liability and/ or the bad reputation accrued through reporting employee theft.

Not even w/ a CBS T.V. news investigation would they provide a 'plausible' reason for the disappearances of the deposit box items...

In reply to by Cryptopithicus Homme

azusgm flash338 Fri, 07/27/2018 - 00:29 Permalink

I closed my BoA account several years ago.

Got rid of the Chase credit card in 2010 despite the air miles. A handyman/contractor and his helper were camping in my condo in Houston while doing extensive upgrades. They were picking up supplies at Lowe's and driving through McDonald's  on the same parking lot every morning. Chase cut his credit limit because he was eating at McDonald's so often. Said it was a possible indicator of personal financial stress. When I called in to close the account, I had to speak with a supervisor. Nobody below that level was allowed to close my account. She wanted to fuss with me to keep my account open. That simply made it all the more important to close that account.

In reply to by flash338

Nunyadambizness 1 Alabama Fri, 07/27/2018 - 08:43 Permalink

Better yet:  DON'T EVER USE A SAFETY DEPOSIT BOX IN A BANK!!

  • If the bank is closed--you can't access it.
  • If the bank closed permanently--you'll never get it back
  • If there's a "bank holiday"--you can't access it, AND may never get it back

 

IF YOU CAN'T HOLD IT, YOU DON'T OWN IT.  Buy a good, heavy safe and keep it in your house--and be willing to protect it with lead--the type that moves around 2,000 fps.

In reply to by 1 Alabama

techpriest azusgm Fri, 07/27/2018 - 08:22 Permalink

For the cash back cards, it always sounds like a great deal for you because you are getting "money back for everyday purchases," but there's a psychological trick. You will also increase your spending a few percentage points because you internalize "but I'm getting cash back," and therefore justify a few extra purchases at the margin. The CC company makes 3-4% per purchase as a transaction fee, so they make money every step of the way, and from a wealth building perspective you are unintentionally spending $1k-$5k more every year, without realizing it, in exchange for perhaps $200-600 in "cash back."

In reply to by azusgm

BarkingCat flash338 Fri, 07/27/2018 - 10:30 Permalink

I hate BoA. Worst thieving scumb on the planet.

Years ago I had a business account with BoA (they inherited the account when they bought out a regional bank).

We had about $150K in the savings account  (this is back when they paid 5% interest).

We would move money into the checking account every 2 weeks to cover payroll.

More than once we had the employees tell us the checks bounced.  BoA never moved the money and then charged us for bouncing checks.

I closed the account and moved it to a small local bank.

In reply to by flash338

SixIsNinE Stuck on Zero Wed, 08/01/2018 - 20:43 Permalink

until the bank says you haven't paid the 5% property tax on your newly valued Chinese hot property neighborhood -

which is now valued @ 1.3 million fiatskis ... (you paid 150,000 Berspankme bucks back in the day) - so now you can't come up with the local mafia vig - so what then?

 

your little garden treasure now becomes a BIG problem? >....?

 

In reply to by Stuck on Zero