FAQ

Why should I rent a safe deposit box?

It is a convenient place to keep important items that would be impossible or difficult to replace. The safe deposit box also gives you privacy and security.

What is involved in getting a safe deposit box?

When you obtain a safe deposit box, an agreement is signed identifying another person who may have access to the box. At the time you sign your agreement, you are given two keys. We have another key which is required along with one of your keys to open the box.

What items should go into a safe deposit box?

Any personal item that is important to you can go into the box. Examples are insurance policy, birth certificate, title deeds, fixed deposit certificate, jewels, medals, rare stamps, written will, copy of EPF nomination form, marriage certificate, important keys, gold bars and gold plates for investments.

May I have access to my safe deposit box as freely as I wish?

Yes, you may take out or add to the contents of your safe deposit box at any time during the regular business hours.

Do I have complete privacy?

Yes, you will have complete privacy. You can take your box to a private area, which no one else can enter while you are in it.

Can I arrange for someone to access my box in an emergency?

Yes, you can jointly rent your safe deposit box with your spouse, child or other person who would have unrestricted access to the box. However, please note that merely giving someone else a key will not be permitted to grant access. He or she must be a party to the agreement.

What if I lose my keys?

It is very important that you do not lose your keys. If you lose one of your keys, the lock must be replaced with a new lock and keys. The new lock and keys will cost you RM 150.00 plus any additional handling charges may be incurred.

If both keys are lost, the box must be drilled and the lock replaced by our appointed technician in your presence. The cost involved for this incident is about RM 750.00 being RM 150.00 for the new lock and RM 600.00 for the cost of drilling open by the technician.

For the loss of key, you are required to sign Declaration Form For Loss / Misplacement of Key to Safe Deposit Box in order to enable us to proceed with the arrangement as mentioned above.

If I lose my keys, is there a master key which will open the lock?

No, each box equipped with a double lock, requiring two keys – one is the Guard Key and the other is the hirer’s key. EACH KEY IS USELESS WITHOUT THE OTHER. No one can open or lock your box without your key.

If my key is found or stolen by someone else, can my safe deposit box be opened?

No, your finger print is on record and no one else has access to the box when his or her finger print does not correspond to that on file.

Can law enforcement authorities access my safe deposit box without my knowledge or permission?

If authorities believe or suspect that you are hiding illegal or stolen items (guns, drugs, explosive, stolen cash or money obtained illegally) in your safe deposit box, they can obtain a court order to seize the contents.

Are safe deposit boxes protected from fire, flood or other disasters?

Yes, the safe deposit boxes and the vault that house the boxes are resistant to fire, flood, and other disastrous conditions.

How safe is it for me to keep my valuable belongings in the Safe Deposit Box?

A vault (strong room) full of safe deposit boxes is your best bet when it comes to fire, flood, heat, burglary or other disasters.

Our strong room has been constructed and completed in accordance with professional engineer’s recommended standards and in addition, protected by seismic alarm, motion sensors, surveillance and monitoring system.

Armed guards and security guard have been positioned strategically during and after office hours for more complete protection.

Are the contents of my safe deposit box insured?

We are unable to provide full insurance on what you store in your safe deposit box as the contents are confidential and best known only to you. However, we will insure the contents of the box for a sum not exceeding Fifteen Thousand Ringgit
(RM 15,000). Additional sum assured up to RM 100,000 can be arranged separately.

In the event of my death, who is authorized to remove my box contents?

If you have a jointly rented box, the other authorized hirers may remove all contents without restrictions. If you are a sole hirer, access is restricted and only granted to someone who present a court order.

What if I do not pay my box rent?

Your rental agreement specifies that you will pay your annual rent one year in advance. If the rent shall be in arrear and remain unpaid for one (1) calendar month after due date whether formally demanded or not, your right of access to the box will be terminated. You are still liable to pay the rent due.

What if I want to terminate the agreement for the hire of Safe Deposit Box?

Generally, you can terminate the agreement at any time by giving to ASSB not less than one (1) month’s prior notice in writing of such termination, or you shall give to ASSB not later than one (1) calendar month’s notice in writing prior to the expiry of the Initial Term.

The deposit (RM300) will be refunded to you within one (1) week after you / (and your joint-hirer) have signed the Indemnify/ Declaration Form for Termination of Safe Deposit Box Agreement.

What will happen when the electricity supply to your office is suddenly cut off?

Please do not worry as we have a standby generator-set to back up the interrupted supply. Our team of skilled and experienced staffs is capable of restoring the situation quickly.

What must I do if I lose the inner container key?

What you need to do is to inform us about the incident and our officers will assist you (and your joint-hirer) to cut the padlock to the inner container, in your presence.

However, you (and your joint-hirer) need to sign the Declaration Form for Loss / Misplacement of Key to Padlock of Inner Container for Safe Deposit Box.