Do you think its a good idea to keep your passport in a safety deposit box? It surely will be safe, but it is not a good idea. A New Jersey man recently found out the hard way why its not a good idea to keep your passport in a safety deposit box. The man needed to use his US passport to travel to India to see his dying mother. However, the only identity proof that he had was his US passport that was actually stored in the safety deposit box. The New Jersey Wells Fargo bank did not allow the man access to the safety deposit box because he didn’t have proper identification.
The Federal Deposit Insurance Corporation, better known as the FDIC recommends that customers do not keep passports in their safe deposit boxes. They also advise that you should never keep anything inside safe deposit boxes that you may need in case of an emergency.
Even if you have proper identification other than your US passport, you still should not keep your passport in the safe deposit box. There are hours that the bank may be closed, not to mention days, weekends and holidays. However, it is a good idea to keep a copy of your passport in your safe deposit box.
The man was ultimately allowed to gain access to the box, but by the time he was able to get his passport, his mother had already passed away and he missed the funeral.
As a side note, it is important to understand that, unlike bank deposits, safe deposit boxes are not insured by the FDIC.
If you have any questions about getting a passport or visa, give us a call at (212) 643-9305. Rush Passport™ Official US Passport Expeditors, serving Brooklyn, The Bronx, Queens, Staten Island, Manhattan, Westchester County, Nassau County & Suffolk County, Long Island, New Jersey, Philadelphia, Pennsylvania and Connecticut.