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About Ryan White
Expertise
I can answer any questions about banks, policies, regulations, or electronic services. As well as general banking questions, regarding deposit products and miscellaneous services, for both consumer and business banking. I am not able to answer lending questions, this includes credit cards.

Experience
Five years in teller, new accounts, call center, and branch operations.

Education/Credentials
BS Business Management Various regulatory training

You are here: Experts > Real Estate > Banking: U.S. > Using Banks and Bank Accounts > safety deposit boxes

Topic: Using Banks and Bank Accounts

Expert: Ryan White
Date: 7/23/2008
Subject: safety deposit boxes

Question
If my local bank fails, what happens to items in my saftey deposit box? I have other accounts at that branch (NY State) if that makes a difference.

Thanks in advance.
Gary

Answer
The FDIC will keep the branch facility open if the bank were to fail. You would have normal access to your box. If the acquiring bank decides to close the facility they would be required to give you written notice and allow a reasonable time for you to collect your belongings.

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