FNB faces anger over safety deposit box heist

A number of people opened cases at Randburg police station after their safety deposit boxes were stolen from an FNB branch at the weekend. File picture

A number of people opened cases at Randburg police station after their safety deposit boxes were stolen from an FNB branch at the weekend. File picture

Published Dec 23, 2016

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Johannesburg - A number of people opened cases at Randburg police station after their safety deposit boxes were stolen from an FNB branch at the weekend.

A group of men overpowered a security guard, held him hostage and gained entry to the bank on Sunday.

The thieves used a grinder to gain entrance, then took an undisclosed number of safety boxes.

A safety deposit box holder, who did not want to be identified, told The Star some of her family heirlooms and personal documents were in a safety box for two decades at FNB in Fourways Mall, and were recently moved without her consent.

“I chose Fourways Mall as it is a secure environment. They moved the box to Randburg on November 24 without telling me and then this happened on Sunday night.”

She also said the Randburg CBD was "the last place" she would leave her valuables. “I’m too scared to go there, even to shop. If I had known the bank intended doing this I would have removed the contents of my safety deposit box and placed it elsewhere, even with another bank.”

She said poor communication from FNB angered her even more.

“No one wants to incriminate themselves by saying too much. My fear is they are going to throw their hands up in the air and deny any liability, leaving me without any recourse whatsoever.”

The Star’s sister publication, Personal Finance, reported in 2014 that when you place valuables in a safety deposit box or vault locker at a bank for safekeeping, you do so on a “contents unknown” basis, meaning the bank doesn’t know what you’re storing and, therefore, doesn't insure your valuables.

In the event of a loss, you will not be able to claim from the bank. Only if you have insured the contents with your insurer will you be covered.

In the article, Clive Pillay, the Ombudsman for Banking Services, said that even if a bank was broken into and your safety deposit box or locker was stolen, the bank would

not be contractually responsible for the loss.

This was because the agreement signed with the bank generally stated that it would not assume any responsibility, irrespective of whether it was negligent or not.

“If banks had to assume any responsibility, they would insist on an accurate record being kept of the contents, and confirming the contents, at all times. The banks would further restrict the value of the items kept in the box and require valuation certificates.

"These requirements would obviously negate the purpose of a safety deposit box entirely,” he said.

Lee-Anne van Zyl, chief executive of FNB Points of Presence, confirmed the robbery of the safety deposit boxes.

The bank said affected customers were being notified.

“We are working closely with the SAPS and the Organised Crime Unit with regard to the matter. In light of the police investigation currently under way, the bank is unable to provide further commentary.”

The FNB branch remains closed until further notice.

The Star

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