Gold rush leads to bank running out safe deposit box spaceBlog — at
The article below describes the situation in Malaysia. Wonder if it is the same elsewhere. If you are looking for secure storage solutions, both hardware and software, we may be able to assist you. Drop us a line to dicsuss.
By RASHVINJEET S.BEDI
“I can sell about 10 to 20 safes each week.
“I have many people walking in to look for a good, dependable safe,” he added.
Depending on the size and make, the prices of safes start from RM500 to RM3,000 and above.
The rental charge for safe deposit boxes by banks are according to size.
A shoebox-sized box is usually rented out for about RM200 a year.
Due to the inavailability of the safe deposit boxes in banks, many private companies have sprouted up over the past few years offering the service.
One company specialising in such services, the Malaysian Royal Safe Deposit Boxes (MSDB), said it was faced with increasing requests for safe deposit boxes.
“We have many walk-in customers daily and have to add new boxes due to increasing demand,” said a spokesman who identified himself as Dhaliwal.
Most private companies offer insurance coverage of up to RM100,000 per box, compared with about RM10,000 by banks.
The private firms usually charge higher rentals than banks for safe deposit boxes, with rent of RM290 for a standard-sized box a year.
Another such company official said the service it offered was better than banks.
“We are open round the clock throughout the week while banks operate during office hours and are closed during weekends.”
Original Article can be found at http://thestar.com.my/news/story.asp?file=/2011/9/14/nation/9494308&sec=nation