Are these things that bad in demand? Hardly any banks accept new applications?

Any recommendations?

Heard it's also difficult to apply for one, etc.

bcosis already no more space for new one ..........
u can try SCB in state

@laowai,
It's more liability than asset and it takes up space. The bank offers this as part of a value-added service nowadays instead but like U said, most banks are full.

I do know UOB has space but their Safe Deposit Boxes are only offered to their Privilege Banking customers.

This post has been edited by tinkerbel: Oct 16 2008, 10:50 AM

Anyone knows which bank branches have such safe deposit boxes around PJ? And if there's any available boxes and roughly how much p.a. for one?

@hocklai8,
The service charges for a SDB isn't v expensive. It's finding a bank that would have the service and available box for U.

I know UOB @ Uptown has some available but as mentioned, it's available only to their Privileged Banking customers.

So other than safe box, what are alternative methods to store valuables? Any suggestions?

Under the bed?

One local company was on TV recently offering safe deposit box service. Can't recall the name.

i can buy a safebox and u deposit with me

yeah..safebox deposit is more of a reliability problem for the bank. Nowadays they don't want to take responsiblity of storing customers valuebles. So, it's very hard to get one now.

This is actually in very high demand. If only I have money to build high security system and open one myself. But I guess the cost of running it is higher than the profit it can generate.

crime rate is so high nowadays, almost everyday there's someone's house being broke in. so if got any valuables, better to keep in such safe boxes.

hmm... since demand is more than supply, wonder why no one actually start doing this as a business. Business 101 tells me one can actually charge more than what the banks are charging currently and people would still rent it. The business can always get some insurance companies to insure the boxes content if necessary security measures were made. Anyone in the security firms (guards etc) would like to consider this as a diversification option perhaps?

@hocklai8,
Premium to insure such stuff's relatively high. I guess at the end of the day it's just hard for people to make $ in this biz hence no one's doing it.

If we had Auction houses here in KL we might just be able to convince them to expand their biz into storage but alas... no Christie's here!

my 2 cents...why don't u consider getting 1 personal one...it cost around RM1500-2500 (those but will last you a lifetime but in the end it still depends where and what you keep A safe is safe only when no one is around...if there's someone around and u got rob it can be dangerous to have a safe and especially if that person really don't know the combinations

is still dangerous to fire and robbery ... if the robber point a gun to your head, you dare not open ?

compare put in bank, at least bank buy insurance for the owner ...

but still, the main reason why getting less and less is this business is not bringing enough profit for bank ...

Then can the next "Tony" start one? Making this a profitable business...

"Now everybody can have safe boxes"

The problem is insurance company might not accept the insurance in the first place. As in safe deposit, company has no right or knowing whatever stuff being stored in the safe deposit box by the client. So how can insurance company assess the premium should be charged on it?
If the safe box being assessed at like 10K insurance on it if being stolen, then it would be a costly premium, which eventually will make the rental of safe box bloody expensive to have it, which doesn't make sense for people to use the safe box as well. Might as well buy your own safe box, then put in your home and buy insurance accordingly, then no different at all.

The other way is customer need to somehow declare the value of goods they store in the safe deposit box, an appropriate Insurance Charges will then be imposed. Much like buying life insurance, you can purchase RM1 Mil, or RM10k. Then there will be lots of terms and conditions, such as break in only, fire, flood or even war/terrorist... etc.

In the end, with the additional insurance charges, terms and conditions... it might not be viable to store in safe deposit box.
Might as well just put them in a Milo tin, bury it in the small garden infront of your house. Or have a tile at home which is removable, and put it in there.

Public Bank in PJ state got safe deposit box. I'm planning to get 1 there too. But gotta wait for the long waiting list. Always full because of high demand. You can buy insurance to insure your personal stuff. Like someone mentioned before, you just gotta declare the value in your safe. Then the bank will determine the amount of insurance premium.

I think some bigger banks in KL sure have safe deposit boxes. Just call em up & ask. How about big banks like HSBC in KL?

---

Added on November 22, 2008, 4:08 am


Ken,

I love your signature. SO TRUE


This post has been edited by P.I.M.P: Nov 22 2008, 04:08 AM

I know one place... I will check them up if they still space to rent..

I saw a company named "Mysafebox", somewhere in Serdang's offering this service. Their guards are in cowboy attire ^^''

hi mates,

I must be so lucky then, I managed to hire one just recently. No waiting-list, approval is on the spot.

To me, the comfort and peace of mind a safe deposit box provides is its biggest attraction.

I now rest easy knowing that my personal & business important documents & valuables are stored in a convenient location, protected from loss, theft, robbery, fire, flood or landslide hit.

Thanks a million chowsc

The reason why many banks are not providing SDB facilities is because it is not a profitable business as how the banks see it.It is just a waste of time,effort and space in the bank.

Besides,there are more risks taken to safeguard the belongings.

Anyway,I have seen a shop in Sunway Mentari providing SDB facilities,not so sure how safe is it there,but you can give it a try.

Thanks Buddies,

I went to both place to check and compare the security and safety features, only the Serdang mySafeBox is serious about security, They employed Armed Guards and Gurkhas Guards, they charg a bit dear compared to banks but for me it is value for money, with the security and safety features they have, I'm sure my belongings are well taken care off and I don't have to worry about them anymore.
Oh Ya, Before I forget, when I register yesterday, they offered me a CMS service for my home alarm, just in case if you don't know what is CMS, it is the Home / Office Security Alarm monitoring service like the A?T, but they offered free , come with the package of Safe Deposit Box I rent, the CMS service are usually charge at RM75 per month, now with this offer, I got the Safe Deposit Box EQUAL to FREE.
Buddies , lets check it out, they open 24 hr everyday, that means you can go there any time as you wish, This is really CONVENIENCE to me, I got a superb deal which really worth the money, hopes you all can get that deal too if they still offer the CMS Package. Act Fast!

---

Added on December 9, 2008, 11:56 am Just for those who worry about how to find that place, just paste this cordinates into google maps, the maps can show you the directions to the place, it is called mySAFEBOX, red colored building with big posters.

3.044354,101.70486 http://maps.google.com/maps

This post has been edited by multitech: Dec 9 2008, 11:56 AM

Hey,

are there any news regarding a SDB in KL? As a foreigner/European I would like to rent one, but that seems pretty difficult...

Thanks!

This post has been edited by Alex09: Jan 3 2009, 07:28 PM

The HSBC at Jalan Ipoh ... I just got one last 2-3 months ago.

Even for people without a HSBC bank account? That would be great, thanks eyeball!

Hi, Check this out Alex09 ...


WeAreTheChamp, Posted Dec 8 2008, 05:05 PM

hi mates,

I must be so lucky then, I managed to hire one just recently. No waiting-list, approval is on the spot.

To me, the comfort and peace of mind a safe deposit box provides is its biggest attraction.

I now rest easy knowing that my personal & business important documents & valuables are stored in a convenient location, protected from loss, theft, robbery, fire, flood or landslide hit.

Thanks a million chowsc


... to hire a safe deposit box from HSBC, the condition is to open a Premier account or a Fix Deposit account. You may check on chowsc' & my recommendation, it is one of the Bank Negara Malaysia' licensed service provider, with impressive safeguarding profession & customer service. Bank account is not required. Hope it helps.

How about Safe Deposit Box Sdn Bhd.

Look here,
http://www.safedepositbox.com.my

Please be quick, that time it's the final 2, and after I applied, left 1.

Just apply for a new bank account on the spot and you will get approval on the spot.

check it out yourself.
www.safedepositbox.com.my
>> SUmmit USJ that one not so safe as the shopping complex is quite isolated.
Other place like Menara MPL and Damansara (on top of a bank) that one is quite safe I think.
Safe deposit only insured up to RM$80,000/- per box. Min 10K, additional 10K is about $20/- per year.
They are the largest Safe Deposit box company for Malaysia.
Even CIMB and Maybank also outsource the safe deposit box to them.

www.rsdb.com.my
insured up to RM100,000/-

http://www.mysafebox.com.my/home.html


I want to diversify from banks safe deposit box, some items is not safe to put inside a bank.
COnflict of interest, hedge risk, diversify.

For those in PJ area, I recommend UOB PJ State.
Open from 9am-9pm. Suite my time perfectly.


This post has been edited by blasto: Jul 18 2009, 02:17 PM

although this is an old post, but i believe its useful for me to update some info..
as of today,
Boxes in HSBC PJ State are all taken.
UOB PJ State (9:30am to 9pm)
- medium box is available
- size is 5 x 10 x 20
- yearly charge is 180
- key deposit is 150
- stamp duty RM10
- requirement to open safe deposit box
- must has an account AND credit card from UOB

HEY!

Maybe I can help out here. I read many of you wrote serdang. Yes, there is. Recently I got myself one! No-waiting list. On the spot I get it. They are having many promotions now!

Here is the website:
http://www.mysafebox.com.my/

Their address:
No.25, SR 1/9, Taman Serdang Raya, 43300 Seri Kembangan, Selangor

Their service are good.

---

Added on December 28, 2009, 5:14 pmHey! mySAFEBOX allow foreigners too! I am a Singaporean. Got mine recently with their promotion price!
Is cheap! cheap! cheap! You should check it out at serdang.

here is the website:
http://www.mysafebox.com.my/

Hope it help.

---

Added on December 28, 2009, 5:16 pmYea, I got to agree with you. I waited years for RHB. So I got fed up. Recently I got mine at mySAFEBOX. Is at serdang.
I got it while they are doing promotions so I am happy.
Here is the website: http://www.mysafebox.com.my/

Hope it help.

This post has been edited by deeplyzz: Dec 28 2009, 05:16 PM

EON bank (near petaling street there has safe deposit.. not sure it's RM66 per month or per year..

hey! i got one safe deposit box at the Serdang one too!

people says it's really jam there! who cares?
it opens 24 hour, I don't have to squeeze in my office hour!

so lovin it!

That day I went Summit USJ, they have one there!!!!

Recently i got change a new service at serdang(mysafebox), there r really conveniece cos provide 24 hours per days,bsides, secure system n insurance cover is better than bank.Most important is, d price their's offered is cheaper than d other private corporate as i surveyed before.

i kept mine in public bank tmn megah, rm100/year.

jewelry + important documents.

not sure there is any space available or not.

Hi Gold Chan, I have checked with Maybank & CIMB, no it is not true that Maybank and CIMB or any bank for the matter has outsourced their SDB requirements to Safe Deposit Box Sdn Bhd located at Summit USJ. It would be ridicolus & suicidal for the banks to do that when this company do not even have a single Security Guard at their premises.

If there is anyone who have outsourced for Safe Deposit Box services is Public Gold, Public Fine Gold International, Public Dinar, The Gold Label, Sovereign Wealth and Tembaga Hijau & Trading. All these are large Gold Trading companies who have outsourced to RSDB i.e. direct all their clients to Royal Safe Deposit Boxes (RSDB) located at Bandar Sunway. Royal Safe Deposit Boxes is the only SDB center which provides you with an option to insure you items for up to RM300K.

Check out www.rsdb.com.my & www.publicgold.com.my (Home page at the bottom right)

Hi,

If I ain't mistaken, there's this SafeBox Deposit place at Damansara Perdana; same row where Citibank is; just up the street from Citibank.

Also if you're looking for banks; Public Bank ss2 apparently had some available when I asked.

I totaly agree with the above, RSDB is by far the safest choice, in terms of security features, i mean hell, their strong room IS a strong room, ceilling, walls, floor, all secured, the other companies... not so much, just normal walls with a vault door.. hell i'll just bring a sledge hammer and bring the wall.. , RSDB on the other hand, walls and stuff all re-enforced, plus sunway near my house .

Oh, also, as stated above, there is a REASON all those companies source to RSDB, they know a good vault/strong room when they see one, i mean the average joe can be fooled, but ppl in this business cant afford to mess around, know what i mean?

I wonder what will happen if the safe box company goes bankrupt. Will your item be claimed by the safe box company creditors?

If you got complain against company, you may be in a difficult position. Unlike banks, we can refer to BNM but this one not sure.

Hi Cuebiz,

If the Company goes bankrupt nothing will happen to your items in the SDB because the Court can only order items that belongs to the company to be sold, in other words to be auctioned. The items in the SDB do not belong to the company, the court or the company has no jurisdiction over these items. As such you will get back your items without any problem, unless of course the owners break open yr box and disappear with yr items.

This is interesting. How can you know or gauge if this could happen. Look at the willingness of Insurance Companies to underwrite the risk for the Safe Deposit Boxes. If the Insurance Company is not willing to provide outright cover of more than RM10K, then I would be concerned.

Looking at the 3 main players in the market only RSDB provides outright Insurance Coverage of up to RM100K and max of RM300K. I am sure the Insurance people's risk consultant would have done their survey and given their green light to RSDB. So there you go.

And for those who do not know BNM has got nothing to do with the SDB services provided by the banks. Is there anyone out there who knows what part BNM played in assisting the clients of Maybank and Public Bank who's SDBs were robbed. Nothing, BNM did nothing.

And the PIDM insurance (which, according to The Star pg B1 dated May 12, 2010 is going to be increased to RM250K per account) too does not cover your items in any bank's Safe Deposit Boxes. I have personally called them up to verify this. That insurance covers only your accounts. So do not be to enthusiastic about the PIDM insurance.

Simond

It's good that PIDM plan to increase the coverage to RM250K. Yes, I can confirm that it doesn't cover the safe deposit boxes.

Suggestion: Get one safe at home and hide it, put it behind the painting or underground

This post has been edited by klang-valley: May 13 2010, 11:44 PM

Safe Deposit box at Wisma MPL is closed down on 15th MArch 2011. Not enough customer.

I written few articles on Safe Deposit boxes.

You can view it at the URL below.

http://silvermalaysia.blogspot.com/2011/03...eposit-box.html
http://silvermalaysia.blogspot.com/2011/03...x-operator.html
http://silvermalaysia.blogspot.com/2011/03...deo-taking.html

enjoys!

CheapSilver

For your blog on video taking. How difficult is it to bring a tripod and mount your camera?

by right you need a moving camera and not a fix one, because there must be a video proof that you enter the safe deposit facilities, open the box , close the box.
Then there is no dispute that this is not the facilities that you video, and the box does not belong to you. Since the box number is also recorded.

Some banks may have restriction on what you can video and what U can't because strong room is a private facilities.
You need an assistant lah. Co-hirer.

This post has been edited by GoldChan: Apr 11 2011, 10:08 AM

Goldchan

I think you forgot that the camera is yours and you are not to leave it in the safe deposit facility

This means you will have to pick it up (while still recording) and walk out, as long as you are still in view of the camera.

With banks having restrictions, you will not be able to record anything even with assistant.

Does that make sense?

how much monthly cost fee for safe deposit boxes? which company do u most prefer?

hope you can help me. Thanks in advance.

Try Public bank (Sunway branch), opposite Sunway Pyramid old wing.
I just opened one before CNY, plenty of new deposit boxes available.

Cost around rm 300-400 / year depending on size.

I tried before. You need the assistant of co-hirer. U may take a shot of the bank staff.
Some bank don;t much restriction. never try never know.

---

Added on April 15, 2011, 9:20 amsomething is not right here. Why offer safe deposit facilities when there are 2 private operators there.
Royal Safe
and
My Safe Deposit Box at Summit.

Maybe the 2 operators are hated by the banks.

This post has been edited by GoldChan: Apr 15 2011, 09:20 AM

Hi All,

Now Agro Bank also got SDB. It seems quite cheap but only open during working hours.

http://www.agrobank.com.my/safe-deposit-box

Thinking of giving it a try. Has anyone been there? How is the security?

what you put inside the deposit box?

See the locations where you can find a safe deposit box at:

http://www.savershub.com/my/en/business.ph...+Valley&lang=en

Go for RSDB! they are located in sunway

do commerical banks such as Maybank offer SDB?

RSDB pricing will be revised from 1st May 2012 onwards. Smallest box 3" x 5" x 23" revised from RM265 to RM280/year. Largest box 10" x 10" x 23" revised from RM490 to RM540/year.

Simond

Have you verified that the insurance company underwrites RSDB? I called the insurance company to ask but never ever got a reply from them. Either I'm not asking the right people or RSDB is advertising old information on their webpage.

Regards

---

Added on March 29, 2012, 11:16 amMissing information south of KL.

Rgds

This post has been edited by pubmut: Mar 29 2012, 11:16 AM

when u pass away, your inheritor can locate your stuff easily as what i know . there are cases when the spouse is dead, they kept their belonging so difficutl for the beneficiary to locate. we all will die one day right.

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Added on March 29, 2012, 3:39 pmi don't really trust this private depositor co. i prefer bank.


This post has been edited by hackwire: Mar 29 2012, 03:39 PM

[quote=mtsen,Oct 16 2008, 05:39 PM]i can buy a safebox and u deposit with me

[/quote]

Don't risk your life with Home Safe Deposit Box, I tried finding one of the old articles from Sin Chew Daily about being killed when Safe Deposit Box couldn't be open. If they want to get it, just give them, rather than risking your life?? Scary...

---

Added on August 1, 2012, 10:36 am

---

Added on March 29, 2012, 3:39 pm
i don't really trust this private depositor co. i prefer bank.

[/quote]

I personally prefer Private ones, as I don't think any one company would open just to rob your items?
Plus, they should be more professional than banks, as if they want to win the market they got to fight in Service and Price.
What do you think? I guess, banks would close down one by one soon, as the private sectors rises.

In fact, in today’s economic, there are always new things in a market, new things to try, whether it’s a health product, a skin care, a wine, a coffee shop, a gold company, or even a safe deposit box company. Since we are being able to accept the biggest change from non-technological till today Apple’s world; what else couldn’t we accept?

---

Added on August 1, 2012, 10:37 am[quote=laowai,Oct 16 2008, 09:55 AM]
Are these things that bad in demand? Hardly any banks accept new applications?

Any recommendations?

Heard it's also difficult to apply for one, etc.

[/quote]

Go to private sectors

This post has been edited by xueyinggan: Aug 1 2012, 10:37 AM

I seen many bank are still accepting but in Finland many people use to buy their own safety deposit box in fact about one at http://www.finnturva.fi/ which is fire proof and really cool one.

which banks still have safe deposit box available?
some cost up to RM300 a year - so expensive..

In most Klang Valley banks, even if SDBs are available, one need to be a high-value customer to secure one.
Except boxes contracted many many years ago.