Citing substantial costs and low usage, all Chase Bank locations have decided to stop offering safe deposit boxes to its customers. Those who have existing boxes with the largest bank in the United States have to remove their belongings, in Nevada and two other states. If they do not, the bank will drill the boxes and transfer their belongings to storage in a different state. According to retired Henderson, NV/New York City police officer, David Kohlmeier (also known as The Problem Solver), when banks drill because people don’t pay, they usually find contraband.

The high maintenance costs and low demand, in addition to the occasional discovery of illegal and/or dangerous materials in safe deposit boxes prompted Chase Bank to discontinue their use altogether. “It concerns me as a retired police officer that people don’t know that there is a liability here” states David Kohlmeier. “When they drill these boxes, people lose belongings such as cash and jewels, and they are often difficult to get back.”

Having dealt with these types of things before as a police officer, he is aware that there is a reasonable concern on the part of the bank to ensure their compliance with the law, as well as the safety of everyone in the bank. David’s concern however, is for the average customer who is still affected. “They could lose their property” explains Kohlmeier. “Also, this is an ‘invasion of privacy’ issue”. Kohlmeier states that when they drill these boxes, bank employees often take video and pictures for their records. A Las Vegas Chase Bank branch manager states that 20% of safety deposit boxes are still unclaimed.

J.P. Morgan Chase has been rolling out these safe deposit box closures since December 31,2023. Bloomberg.com reports that remaining customers who hold safe deposit boxes will lose access if the branch where their box is held closes. According to Reuters, Capital One, HSBC and Barclays have all followed suit.

In Las Vegas, David Kohlmeier is known as “The Problem Solver”. He operates a service that helps people find legal representation and connect them with the right attorneys, and other related services. While he doesn’t offer legal advice, he acts as a referral network to assist people in finding the best lawyer for their specific needs.

If you’re ever in Las Vegas and need help, or for more information visit The Problem Solver here, or call 702-999-1111

Author: LaGuardia Media And Public Relations

LaGuardia Media and Public Relations specializes in creating excitement around our clients' brands through strategic media buys, news media announcements, advertising positioning, and market engagement strategies.