How safe is your Safe Deposit box in a Bank? You will be surprised ...

[yourbank]

In these days where a victim is considered the harmed party, why am I, who through the admitted negligence of the National Westminster Bank, treated with such disdain?

Not only have I incurred financial loss to the tune of £5,000 in addition to the heartache, anguish, stress and time through the action of the Bank wrongfully releasing my safe deposit box to an unauthorised third party, but they won't even let me see their records of who else has had access to my safe deposit box!

I also have to endure condescending letters offering insignificant compensation (£750:eek:), which tell me "I should pursue compensation from my own insurers.", and that I am at liberty to take this to the Financial Ombudsman.

Anyone can see that the Bank is responsible for its actions - in fact we (my wife and I) had signed up to the clause " We agree that, except in respect of loss, damage or delay directly caused by the negligence or misfeasance of the Bank’s own officers or servants, the above items is/are lodged with the Bank at our own risk".

But, as always, it is the Bank who has the upper hand against an individual. The Bank refuses to accept liability for the financial losses we incurred as a direct result of its own admitted wrongdoing.

Fair justice, where Banks are concerned, would be a bonus.

 

Any advice on how to proceed?

 

Yes, the bank would keep all documentation with regards to safe custody within what I would call a relevant filing system within the bank. They should furthermore, take identification(they may not photocopy it) but they should require it when releasing safe custody. The only question I would ask is whether the third party was known to you and had previously had access to your account authorised at that time but not anymore?

[yourbank]

well if it was me:

 

1. Letter to the bank in question asking for a refund of the monies lost, plus sufficient compensation. Send it via special delivery. Give them 14 days to respond.

Difficulty, with all due respect, is that any items held in safe custody are not itemised but merely stored as either envelope or box. No bank staff would know what was contained within this and so it would be difficult to prove what is actually in the box.

2. If no satisfactory solution is reached, send a Letter Before Action, detailing that you will be suing the bank in the county court for a refund plus compensation. Again, send it via special delivery. Again give them 14 days to respond.

Again see above.

3. Sue them. Use www.moneyclaim.gov.uk/ . It costs but you can claim these back from the bank.

 

This is a simplistic approach but, given the facts (the bank gave your money away to an unauthorised third party), you should be onto a winner. i mean, despite their disclaimer, would they really like your situation to become common knowledge?

 

The difficulty is in assessing what is contained within safe custody because it is not itemised and any box/envelope is provided by the customer and not the bank. There maybe a case of fraud and theft but that is against the individual who took the safe custody. If this is a clear breach of bank guidelines then the OP certainly has a case for compensation for this(I would expect perhaps a member of staff might get sacked at worst over it).

[yourbank]

Yourbank, I see your point, and one that the Bank's Customer Relations keeps drumming into me; but I did not ask to be put into this situation; they released the box without my permission to a party that I did not know, never had authorised; I now know this party, and without giving names away, this has occurred because myself and my wife have the same initials as the third party and his wife, and yes the same surname; but then how many Smiths and Lees and Watsons, and patels are there! The Bank *Should* have compared signatures, and apparently did, but have also told me explicitly that the release signature does not match with those on the Lodgement Record.

My predicament is how do I prove what jewellery was in the box.

 

Thanks for the comments.

 

I am assuming it was not in a locked box but in an envelope, right?

Did the other individual return the item since it was not theirs?

[yourbank]

it was a locked petty cash box - which implies it may not be pickable - though the insurance company person who arrived and was an ex policeman tells me it is as easy as lemon-squeezey!

 

The other indiividual kept the box for 4.5 years, never questioning it was not theirs, and only returned it, 'cos fate brought us together and we had formed a friendly relationship. Ouch! Does this hurt! In this episode I have lost a dear friend!

 

Four and a half years??? Blimey O'Reilly. I gotta say this is an odd one. When an item is taken out of safe custody then a line is struck through the item and audits are carried out every 12 months. Did they stop charging you for having it in safe custody?

Were the items of sentimental value?

Gotta say this is probably one of the most unusual cases I have heard. Am not really sure what to advise cos technically the bank are at fault for releasing the item to someone by mistake.

However, that person is guilty of an offence since they did not take the item back to the bank when clearly they knew it was not their item. I am amazed at what they did with something that was not theirs because it would have been pretty obvious to that person that it didn't belong to them.

[yourbank]

*sigh* there is the temptation to put a line thru the episode, swallow my pride, and let bygones be bygones, as one thing this will not do is bring back those sentimental items ...

 

But I may feel different tomorrow ...

 

And England may re-win the Ashes ...

 

I think the bank does need to compensate you but I am gobsmacked by the whole thing......don't think I am in anyway saying that this is not a serious issue cos I think it is. I am gobsmacked with the bank, the other person concerned and the whole thing. I just don't know what to advise.