(Solved) Bank Safe Deposit Locker use case scenario.

prashantakerkar

wrote...

Go to Answer

Valued Member

Posts: 1645

Rep:

3 years ago Edited: 3 years ago, prashantakerkar

Bank Safe Deposit Locker use case scenario.

https://www.google.com/search?q=bank+safe+deposit+locker+rules+and+regulations&oq=&aqs=chrome.2.35i39l5.-1j0j7&client=ms-android-lava&sourceid=chrome-mobile&ie=UTF-8

Use case scenario
-----------------

In emergency cases, Can a Blood relation (Father, Mother, Husband, Wife, Son, Daughter, Brother, Sister) be able to access the Locker services of the Bank Safe Deposit Locker owner?.

Will the Bank allow the Blood relative to give access to the Locker who has carried the Locker key ?

If yes, any documents proofs will be required viz Birth certificate, marriage certificate, Photograph, Aadhar card etc to be given to the Bank by the Blood relation?

If no, why?

Emergency case could be the Safe Deposit Locker owner is in Hospital's Intensive Care Unit (ICU) and can't write a application letter to the Bank with his/her signature requesting them to grant access to his/her locker to the Blood relation.

Thanks & Regards,
Prashant S Akerkar

Read 221 times

7 Replies

Report

Prashant S Akerkar

Replies

bio_man

wrote...

Educator

3 years ago

I found this on a banking website, maybe it's provide some insight.

If the safety deposit box is held only in the name of the deceased, the financial institution will allow a representative of the Estate to examine the contents. The contents are not permitted to be removed (except the Will) until Letters Probate or Letters of Administration are provided.

The Executor of the Will must probate the Will by getting a Court Order stating that the Will is valid and that the Executor is in fact the Executor. This gives the authority to deal with the Estate. The documents that are required to do so are:

An original Will
Petition of Letter Probate
Affidavit of Executor
Statement of Assets

If there is no Will or no Executor of the Will, a Letter of Administration must be ordered from the Court.

Hope this helps...

Report

prashantakerkar Author

wrote...

Valued Member

3 years ago

Thank you.

In this Use case scenario, the Locker owner is not deceased, he/she is in a Hospital's ICU alive.

What will the Bank personnel's action response to Blood relation of the Locker owner?

1 Yes - He/She will grant access without asking any documents proof?

2 Yes - He/She will grant access but with documents proof?

3 No - He/She will not grant access.

Thanks & Regards,
Prashant S Akerkar

Report

Prashant S Akerkar

bio_man

wrote...

Educator

3 years ago

Sounds like the person is still alive. In that case the rules mentioned above don't apply. If the person is conscious, they can grant access by signing a letter or by calling the bank (I assume).

Report

prashantakerkar Author

wrote...

Valued Member

3 years ago Edited: 3 years ago, prashantakerkar

Thank you.

Since the person is in Hospital's Intensive care unit and is in unconscious state, he/she is not able to write a application letter with signature as well as cannot make a phone call.

So most likely the answer is No for locker granting access, by the Bank to the Blood relation according to you?

Thanks & Regards,
Prashant S Akerkar

Report

Prashant S Akerkar

bio_man

wrote...

Educator

3 years ago

Quote from: prashantakerkar (3 years ago)

So most likely the answer is No for locker granting access, by the Bank to the Blood relation according to you?

You'd have to read the stipulations and agreements that the deposit owner signed before taking ownership of the box. It might even be in the person's best interest to write a will beforehand if there's something deeply valuable in the safety deposit box. I would like to give you a firm response to this, but every banking institution is different, especially when it comes to this gray area that you've revealed -- person's in a coma of some sort, and cannot communicate.

Report

prashantakerkar Author

wrote...

Valued Member

3 years ago Edited: 3 years ago, prashantakerkar

Thank you.

The Safe deposit locker rules and regulations in this use case scenario will vary from Bank to Bank ?

In this scenario, the Locker owner who is in the ICU is not deceased and can also get discharged after getting well.

Do you feel this Use case scenario is very much possible in COVID-19 situation and other emergency situations where the patient - Locker owner, single operated account is admitted to Hospital's ICU because of CoronaVirus?

There are many COVID-19 patients who get well after admitted to ICU. But in this case, The Blood relation (Father,Mother,Husband,Wife,Son, Daughter, Brother,Sister) is requesting the Locker access of the Locker Owner to the Bank.

Thanks & Regards,
Prashant S Akerkar

Report

Prashant S Akerkar

Answer accepted by topic starter

bio_man

wrote...

Educator

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.

Bank Safe Deposit Locker use case scenario.

Related Topics