• Sentinel Vaults to provide peace of mind for less than one euro a day
• Five jobs to be created with new venture
A PRIVATE, high security vault offering people safe storage for their valuables at a cost of less than one euro a day opened its doors in Dublin today, (Thursday October 10th.) Sentinel Vaults is a high-tech, underground storage facility based in Ballsbridge, Dublin 4. It is a secure and convenient alternative to a service traditionally, but no longer, offered by high street banks.
Sentinel Vaults is providing thousands of safety deposit boxes of different sizes for householders and business people who want to store cash, jewellery, family heirlooms, valuable electronic data and important documents. It is also targeting the growing number of people who are holding their assets and wealth in gold coins and bullion bars.
Five jobs will be initially created with the new venture and the company expects this number to grow in the next 12 months. The facility opened for bookings by appointment on Monday of this week and is fully operational from today.
The new service comes when the latest figures from the Central Statistics Office show there were 26,211 recorded break-ins in Ireland to the year to the end of June, and 77,022 thefts in the same period. Sentinel Vaults, based in St. Martin’s house on Waterloo Road on the junction with Upper Baggot Street utilises the most sophisticated and impenetrable security system available anywhere in the world. It has a high security alarm and bio metric system, allowing only customers to have access to the boxes. Boxes come in different sizes starting from €299 euros a year.
The savings or deposits are completely independent of any bank and only the key holder will know the contents. Valuables can be accessed by key holders at any time during office hours.
According to Billy Finn, Managing Director of Sentinel Vaults and a former senior banker with AIB, the new service is filling a huge demand in the market for private and convenient security and is an alternative to what was traditionally provided by high street banks.
“People are more and more security conscious and for the first time they now have a low-cost alternative to storing their valuables. It is impossible to put a price on peace of mind which is what renting one of our deposit boxes brings.”
He added: “Our vaults are not reserved for high-end clients. We are targeting all people who have valuables they want stored, with our safety deposit boxes starting in price at only €299 a year. That works out at just €25 a month or less than a euro a day.”
“Our deposit boxes will be able to accommodate a wide range of valuables from jewellery to precious family heirlooms and paintings to important documents such as property deeds. With so much vital information now being stored on electronic devices this is also the perfect place to store memory discs and computer data in a safe and secure environment.”
For total peace of mind the contents of the boxes can be insured, directly by client, (excluding cash), up to a limit of €100,000 per box. Additional boxes can be rented if cover for more than this figure is required. Mr. Finn expects that a substantial amount of Sentinel’s business will come from the increasing numbers of people who are transferring their assets into gold bullion. They are also targeting foreign students who need safe storage for their valuables while they are studying in Ireland.
Sentintel Vaults is based in a former AIB building constructed to the highest security standards.