Why have the banks withdrawn safety deposit boxes? The globally recognised financial institutions have moved away as it was not cost effective for them.

Traditionally Irish banks (Bank of Ireland, AIB, Permanent TSB, EBS Building Society, Rabodirect, KBC Bank Ireland, ICICI Ireland, etc) used to offer bank safe deposit boxes and a safekeeping service. This service was normally reserved for their private clients, however this has now been withdrawn and banks are no longer accepting new customers.

Bank of Ireland, 2 College Green, Dublin 2: Sentinel Vaults had a very productive meeting with Bank of Ireland in relation to their bank safety deposit boxes. They confirmed that, despite inaccurate reports published online, Bank of Ireland have not begun writing to their customers giving them “6 months to clear out their safety deposit boxes”. They have, however, reduced their opening hours and are no longer taking on new customers.

Allied Irish Bank (AIB), 7/12 Dame Street, Dublin 2: currently have bank safe deposit boxes however, like Bank of Ireland, this service has been withdrawn and they are not accepting new customers.

Ulster Bank. 33 College Green, Dublin 2: have a vault in their basement, however customers were told to remove their valuables as the service was completely withdrawn.

Anglo Irish Bank (now IBRC: Irish Bank Resolution Corporation), 18/21 St Stephen’s Green, Dublin 2: Underneath the former head office of Anglo, Sentinel Vaults have seen the old Anglo Vaults. The vault has been sealed as there are 24 safety deposit boxes yet to be claimed. The special liquidator, KPMG, are responsible for tracking down the rightful owners.

Permanent TSB (PTSB) along with other banks and financial institutions such as the EBS Building Society used to offer a safekeeping service, mainly for house deeds. Customers who retrieve their title deeds from PTSB or EBS are then left with the documents in hand as they are not accepting them back.

With all the banks withdrawing their safekeeping service, this leaves Sentinel Vaults as the only secure vault in Ireland that are certified, registered and accredited. Their safe deposit boxes are inside AIB’s original bank vault.

From research conducted by Sentinel Vaults, they have found that customers are not interested in “who’s first”. Customers are concerned about the credibility, reputation and accreditation of the safe deposit provider. Sentinel Vaults are Ireland’s only certified member of the Safety Deposit Association.

There are other options to store your valuables; i.e. a loft, a home safe, a hole in the ground, an uncertified company etc. however, these options are not secure and are vulnerable when it comes to unexpected circumstances.

Bullion Storage

Gold and silver bullion is popular with investors all over the world and many financial experts encourage the use of gold and silver in investment portfolios. Private individuals use bullion primarily as an investment or potential store of value. Gold bullion and silver bullion are the most important forms of physical precious metals investments. Bullion investments are often considered as insurance against inflation or economic turmoil.

For private and retail investors who purchase bullion, it is crucial that your investments are protected and stored securely. Home storage can be high risk and could result in you losing your investment or life savings. Sentinel Vaults’ specialised safe deposit boxes are an ideal storage solution, and we cater for all quantities of bullion.

Data Storage

Secure storage of intellectual property and digital data is crucial from both a business and personal aspect. Sentinel Vaults specialises in protecting your data, while giving you privacy, confidentiality and complete control of your storage.

Back-up storage of business information and data is a crucial part of business continuity plans, which ensure your business will continue to function in the event of any disruptions to your normal operational capacity. Your data will be stored in individual safe deposit boxes that can be accessed only by you or your staff as needed, and Sentinel Vaults guarantees your data is protected against intrusion.

Irreplaceable Possessions / Sentimental Items

Irreplaceable possessions and items of sentimental value will mean different things to different people. Typical examples of such items include jewellery, medals, old photos, wedding videos, and family heirlooms

Theft, loss and natural disasters such as flooding or fire can mean these precious items are gone forever. Sentinel Vaults can ensure your items are kept safe and protected against all eventualities, while offering you peace of mind. Our safe deposit boxes within a former AIB bank vault guarantees a secure, trusted and private service, and gives our clients unlimited access to their belongings, 7 days a week.

Irish Stamps and Coins

Sentinel Vaults is the preferred choice for collectors in Ireland, particularly among Irish philatelic and numismatic experts.

Stamp and coin collections have a deep, rich history, and to preserve that history your collection needs to be stored properly. Collectables such as these carry huge sentimental value, but the monetary value that a properly stored stamp or coin collection will provide to you or your heirs somewhere down the line can be quite significant. Most stamps and coins will react negatively to a variety of different environmental factors, thus decreasing their condition and value. Our specially designed safe deposit boxes ensure these factors don’t become an issue.

Antiques, Rare Books and Artwork

Home storage of antiques, rare books and artwork can lead to a variety of problems that may affect the value and condition of such items. Even the most attentive owner is at risk of damage to his/her historical items if they are not properly stored.

Humidity is one such risk. Metals, paper, paint, etc. are all made up of chemicals, some of which react when they come in contact with water. Water vapour is all around us in varying degrees, and can seep into just about anything. Varying temperatures can also have a damaging effect. Acids that are emitted from everyday items such as cleaning supplies and adhesives, and air pollution from surrounding buildings, vehicles, etc. can have a disastrous impact.

At Sentinel, our vault is monitored to prevent any damage caused by temperature, humidity or harmful gases.

Bitcoins

Bitcoins are growing in popularity, particularly with recent media coverage. While they are largely used by investors and speculators who look at it as a way of making money; buying bitcoins at low prices and selling them when their value increases, there is a growing trend of businesses, such as WordPress, accepting bitcoins as a form of payment.

Sentinel Vaults is the only facility for bitcoin cold storage/offline storage in Ireland that is certified by the Safety Deposit Association and the Financial Conduct Authority. Methods of cold storage include keeping bitcoins:

• On a USB drive or other data storage devices.
• On a paper wallet, created by printing a private key onto paper.
• On a “bearer item” such as a physical bitcoin.

Our safe deposit boxes and document safekeeping services offer secure, risk-free options for bitcoin storage.