There are numerous reasons why a Safe Deposit Box makes good sense, but a lot of people are not sure whether they actually need one or not. The simple answer is – if you have any valuables that you want to keep completely safe and secure – then yes – you do need a safe deposit box.
Average students owns up to €2,500 of essential technology
Be it laptops, memory cards, jewellery or passports, the personal effects that students lug around add up in value to a few thousand euro.
It is estimated that the value of the technology alone that most third level students regard as essential is up to €2,500. They include mobile phones, iPads and laptops. So it’s imperative that they insure their property and find a safe place to keep valuables secure and accessible.
The owner of a safe deposit vault in Dublin said new clients from Northern Ireland had trebled in recent weeks amid uncertainty surround Brexit.
Séamus Fahy, founder of Merrion Vaults at Merrion Square in the city said fears over the UK’s exit from the European Union and the impact of negative interest rates across were driving factors behind the growth.
He said there was increased demand for safe deposit boxes to store cash and gold at the Merrion Vaults and another facility in Glasgow in recent weeks.
“However, following the referendum result favouring Britain to leave the EU, we are inundated with calls from new clients in Northern Ireland who are either storing cash in the vaults or investing in gold,” he added.
“The bank service charges cost more to keep the cash in bank accounts compared to putting the cash in safe deposit boxes.”
Among fears to arise from the shock outcome of the EU referendum was a possible lowering in interest rates – already at a historic low of 0.5 per cent in the UK.
Nicola Sturgeon MSP has officially opened Scotland’s first independent safe deposit box service in Glasgow.
Based in the city’s southside, Glasgow Vaults has been introduced in response to the major banks withdrawing the service that safeguards people’s valuable possessions.
The venture is being led by David Walsh and Seamus Fahy, who have invested in the region of £1m equipping the vault with the latest state-of-the-art surveillance technology, including seismic shock sensors, 24/7 monitoring and biometric identification technology.
Employing five staff, the Glasgow facility is part of a strategy to expand the model across the UK and Ireland, following the successful launch of its first site in Dublin in 2013. The business is expected to grow its staff numbers in Glasgow to 15 by the middle of 2017.
Speaking at the officially opening today, Friday 19th, Nicola Sturgeon, the MSP for Glasgow Southside, said: “………………..”
Seamus thanked the MSP for her attendance, as he revealed that Glasgow Vaults is already growing a strong customer base with both homeowners and the local business community.
He said: “Firstly I would like to thank Nicola Sturgeon MSP for her attendance and support as we launch a new service in Scotland, it is very much appreciated.
“We launched in Dublin three years ago, very much in response to demand from people who had either lost confidence in the banking system or were looking to keep possessions safe amidst rising crime figures.
“The business has delivered consistent growth and we have been exploring opportunities to grow our footprint across other UK regions.
“After considerable due diligence we identified Scotland as a key growth region, mainly due to the fact that the banks no longer offer the service and there are no other providers in the market place.
“We have already witnessed a strong demand for our service with homeowners and the business community, and our client footprint stretches as far as Aberdeen, where oil & gas workers are keen to keep their valuables safe when working offshore.”
Typical items stored in a safe deposit box include cash, jewellery, family heirlooms, gold bullion, Title Deeds for a property, memory devices, watch collections and passports.
With latest Police Scotland figures showing that there were 20,607 reported housebreakings in Scotland in 2014/15, Seamus expects demand for the service to grow.
To meet this demand, Glasgow Vaults has in the region of 10,000 boxes, which come in ten different sizes and start from £150 a year. Client have unlimited access seven days per week and there is no appointment necessary.
Seamus added: “While crime overall is falling, figures show that housebreakings remain high and thieves are certainly becoming more and more sophisticated in their efforts to target properties – making it vital for individuals and business owners to safeguard their valuables and money.
“Complete peace of mind can only be given through the use of a safe deposit box, which is why an increasing number of people across Scotland are turning to us to provide a convenient and affordable way to protect valuable possessions.
“We have built in capacity to meet this increasing demand and will grow our staff numbers to ensure we provide a comprehensive and personal service to our customers.”
The vault is open 362 days a year, and was designed in partnership with security consultants working on behalf of insurer Lloyd’s of London.
Crime has continued to affect every aspect of life in many cities. Over The past decade, there are some cities that have had their crime rates double or even triple. This is worrying not only for those living in that city, but also because it paints a bad picture for the city. There is no single investor who would want to invest in a place where security is not guaranteed.
One thing that can be observed when it comes to crime rates in many cities is the fluctuation. There are times when the crime rates go up, and times when they go down. There are a number of cities and countries that have managed to maintain a minimum level when it comes to crime. There are a number of factors used in determining if the crime level of a city is increasing or decreasing.
The first is the number of reported cases, and the second is the number of suspects arrested. Different type of crimes also vary from time. This is because the type of measures put in place may help reduce one type, while not affecting the other. This is why you might find that the number of murders in a place has decreased, but the cases of domestic violence have increased over a certain period.
Dublin has had some worrying statistics in the past. It has been placed as the fourth city in Europe with the highest homicide levels, and Ireland was ranked as the 10th, which is actually a worse record for violent deaths compared to England and Wales.
There has been an increase of 30 percent in burglaries in Dublin over the past one year from 147 to 191. Assaults, bicycle thefts and public order offence have also increased over the past year. This has happened despite the ongoing Garda operation to combat burglaries in Dublin being in force. Operation Acer was set up in March 2012 to provide a more targeted and focused approach in arresting criminals who have committed any burglaries and related offences.
There was also an increase in Bicycle theft across the city. The cases rose from 114 to 168, representing a 47% increase. The biggest increase was the number of cases reported on public order offence. There was a 23 percent increase in assaults causing harm and 11 percent increase in minor assaults.
Dublin is one of the most densely populated cities in Ireland, making it no surprise that it has the highest crime rate. With 789 offences per 10,000 people compared to the national average of 532. It has the highest rate in theft, robberies, fraud offences, and drugs.
Dublin authorities have put in a lot of effort in trying to reduce the crime rate. There is still a lot to be done in order to bring down the numbers, and those in government continue to attempt a resolve.