Discussion in 'BlackHat Lounge' started by bigballin6161, Jan 10, 2015.
Is it a good or bad idea to put a large amount of cash into a safety deposit box?
The fact you need to ask here makes one wonder why you shouldn't. What is it that makes you unsure?
i think he watched the movie: The Bank Job
I dont see a problem with it if its clean money.
I dont know. I never really heard of anyone doing this and wondering if there was a reason why people dont.
What would be the difference if its clean or not? Its cash...
He meant clean... like washing and ironing them before putting them to the box. Not a bad idea.
Anyway, why bother with a bank ? Cash is still nice. Except some change in the credit card for small internet buying, I have just the secret place that is safer than a bank to put my money into. Not that I have quite much, but I still feel they're safer in my home than in the bank ... maybe that's just me !
Bad idea. Cash stored in a safety deposit box isn't insured.
I'd say it's a bad idea to put a large amount of cash just about anywhere. Diversify and spread it about in a couple of different places to offset risk.
It's much safer if u bury it in your backyard. The world is a mess nowadays, it's more safer if you can monitor it everyday.
if its white money then you can deposit them in the bank in form of Fixed deposits. You will gain recurring interest in that
if its black money then safety deposit box is the safest place I can think of
because your depositbox doesn't give you interests.
It ain't gonna breed in a metal box.
LOL SEO applied in real life. I think u got the SERP desease.
it depends what is a large amount of cash ? i mean how large is it ? i rather dig a hole in my backyard and dump it there
I cant see that it should be a problem? What could happen? Its not likely to get stolen or broken into. No one is going to ever know its in there are they (not like the tax man is going to turn up and take it).
Do they generally allow you to store cash though? and is it covered by their insurance?
So what could possibly happen to it? Fire or robbery are the only things I can think of...
I do understand that it will not collect interest. I do understand that it is not insured. But what could possibly happen to it? For those responding there is obvious reasons why I would not want it in my bank account....Do employees have access to the boxes?
Nobody has access, under normal conditions, except for the box owner. It is 99.99% confidential and safe.
I suppose that it could get broken into or some government authority would get access via legal means but those are extreme conditions; otherwise it is safe. Someone above mentioned using more than one box and that is the way to go if there are substantial assets involved.
I'd add too that this would only happen if you were involved in a criminal matter.
If what your hiding your cash from is civil, you're on easy street
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