Bank Lockers

Are They Really Safe?

It is general public belief that bank lockers are the safest places to keep one’s valuables. Yet, considering that incidents of bank robberies or natural calamities cannot be guaranteed against, who is ultimately responsible for the safety of your assets? What do the laws of the land say in such matters? What are the options available to the consumer for compensation? What are the various ways in which the locker consumer can minimize their loss should unforeseen incidents happen? These are the aspects that we have sought to address in this article for the benefit of consumers who put their valuables and cash in bank lockers while dutifully paying the annual locker charges of the bank.

These are some actual incidents reported from across the country:

We are all generally aware of the rules governing safe deposit lockers offered by banks: a consumer