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Safety Deposit box

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  • 10-01-2009 8:52pm
    #1
    Yorky
    Registered Users Posts: 1,485 ✭✭✭


    I was talking to someone who lives in the US recently and they've put a years 'emergency' cash in to a safety deposit box in the event of systemic collapse.

    I've read on AAM that Irish banks no longer offer this facility so is there an alternative way of securely holding cash in this way?


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    #2
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    Yorky wrote: »
    I was talking to someone who lives in the US recently and they've put a years 'emergency' cash in to a safety deposit box in the event of systemic collapse.

    I've read on AAM that Irish banks no longer offer this facility so is there an alternative way of securely holding cash in this way?

    You could put it into a deposit account. Not only will it cost you nothing, but you will earn interest on it! If you're afraid of the bureaucratic delay if the bank does collapse, spread the cash amongst several banks. All Irish banks are fully guaranteed.

    In the event of a systematic collapse and all the banks go under, that cash won't be worth anything anyway (your skills with a bow and arrow, and finding a comfortable cave will be the focus of your worries then:D)


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