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Store it. Insure it.

• We Insure Against the Bank’s Confiscation of Your Valuables

• When Philip Poniz opened Box 105 at his local Wells Fargo, he discovered it was empty — and that he was totally unprotected by federal law.

• Bank safe deposit box thefts have experts stumped

• No safe deposit box or home safe is completely protected from theft, fire, flood or other loss or damage. Consider taking precautions…FDIC insurance covers only deposit accounts…don’t expect the bank to reimburse you for theft of or damage to the contents of your safe deposit box…Look for Insurance Coverage…FDIC Winter 2018 Newsletter

• A Twin Cities woman thought her cash and valuables were literally money in the bank. But, then she discovered more than $60,000 and family heirlooms missing from her safe deposit box.

• 50,000 boxes have been impacted by events in the past 3 years, affecting $1.2 billion in property

• “Oh my God, how much did they take?…I’m panic stricken, I have to know if they got to mine.” – Roof Top Burglary of Safe Deposit Boxes Devastates Bank Customers in NY.

Wells Fargo Safe Deposit Box

Why safe deposit boxes could be a bad idea. A recent article in the New York Times tells the story of a New Jersey man who kept his collection of rare watches in a safe deposit box at a local bank since 1983. That bank changed ownership many times over the years, eventually becoming a Wells Fargo. Deposit products offered by Wells Fargo Bank, N.A. For complete fee information, refer to the Intuitive Investor fee schedule (PDF). For questions about the Portfolio by Wells Fargo program, call our Premier Banking Team at 1-800-742-4932.