Termination of the Hiring of Safe Deposit Boxes at Katong and Geylang Branches wef 1 June 2021 Plus FAQs

Please be informed that we will cease offering the hire of Safe Deposit Boxes at our Katong and Geylang branches with effect from 1 June 2021.

Customers with Safe Deposit Box hires at Katong and Geylang branches are advised to visit the branches to remove all contents and close their Safe Deposit Boxes before 1 June 2021 ie. The last day to close your Safe Deposit Box will be 31 May 2021.

Please note that our Katong branch will remain closed for all banking transactions and services as communicated previously. However, staff members will be deployed at the branch to assist customers on the closure of the Safe Deposit Boxes.

Please bring along the 2 keys that were issued to you at the start of the Safe Deposit Box hire when you visit the branch to collect the contents in your box.

If you have misplaced the key(s), or require further information or assistance, please speak to our branch staff or call our 24-hour Customer Contact Centre at 1800 323 0100.


 

Frequently Asked Questions
1)      

When is the last day that I must close my Safe Deposit Box account at RHB Katong / Geylang Branch?
You are advised to close your Safe Deposit Box account by 31 May 2021.

The last day of Safe Deposit Box operations will be 31 May 2021. The two branches will cease the hire of Safe Deposit Box with effect from 1 June 2021.
2)

What should I do before 1 June 2021?
Customers are advised to arrange for the removal of all contents from their Safe Deposit Boxes before 1 June 2021. There will be a refund of hire fees for the remaining months’ lease that you have previously paid for if any.

For customers who are unable to clear the contents in their Safe Deposit Box by 1 June 2021, please contact our Customer Contact Centre at 1800 323 0100 before 1 June 2021 for assistance.

If no arrangements are made to vacate the Safe Deposit Box by 1 June 2021, the Bank will open the box in accordance with the bank’s clause 13.4.1, under our Termination, Terms and Conditions (version T&C 2014) agreed by you at the start of hire agreement.
3)

Can I transfer all items in my Safe Deposit Box to your Safe Deposit Boxes at other RHB branches?
The Safe Deposit Boxes at our remaining branches are currently fully occupied. Additionally, the bank plans to cease Safe Deposit Box hires at these branches in the near future.
4)

What are the opening hours for Katong/Geylang Branch during which I can go down to clear my Safe Deposit Box items?
From 8 March to 31 May 2021, you may proceed to RHB Katong*/Geylang Branch during normal branch banking hours.

Banking Hours:
Monday to Friday : 9:00am – 4:00pm
Saturday : 9:00am – 11am
Closed on Public Holidays

*Please note that our Katong branch will remain closed for all banking transactions and services as communicated previously. However, staff members will be deployed at the branch to assist customers on the closure of the Safe Deposit Boxes.
5)

What if I have lost one of the keys to my Safe Deposit Box?
The Bank does not retain any duplicate keys for the rented boxes. If a key is lost or stolen, the Bank must be notified immediately and the remaining key must be brought to the branch at a scheduled time during normal banking hours to permit the lock to be changed in the presence of the Renter. The Bank has the right to retain the key deposit.

If both keys are lost, the Safe Deposit Box must be drilled open by a locksmith where the expenses incurred shall be paid by the Renter.
6)

What are the procedures for me to terminate/surrender my Safe Deposit Box?
You may terminate or surrender the Safe Deposit Box by removing all contents, returning all keys, paying any outstanding rent owed on the Box and signing any appropriate documentations required by the Bank.
7)

Can I empower someone to close the Safe Deposit Box account on my behalf as I am overseas?
You may decide to appoint someone to act on behalf of you as your agent or attorney-in-fact (“AIF”) under a power of attorney. All documentations must be satisfactory to the Bank in our discretion and, unless prohibited by law, the Bank may refuse, with or without cause, to honour a power of attorney that you grant to others. Once we accept a power of attorney, we may continue to recognize the authority of your AIF to act on your behalf.
8)

What are the procedures for Bank Drills?
If the Agreement is terminated by the Bank, Renter agrees that the Bank may engage a third party to drill open, or otherwise, force open the Box. One Bank employee, one Bank Lawyer and one Bank Auditor will be present and will remove, examine and record the contents as inventory.

When the bank removes the contents, it may include opening of any sealed envelopes and/or sealed containers. Upon signing the Agreement, Renter has agreed that none of these actions constitute a breach of your privacy, including, but not limited to, rights under applicable privacy laws. The contents will be transported uninsured to a central location where they will be stored until reclaimed by the Renter or turned over to the appropriate Authority as provided in the Agreement. The Bank shall not be liable for loss, damage or breakage to the contents of the Box during drilling, inventorying or shipping of the contents. The Bank may, but is not required to, use a videographer/photographer to record the drilling and inventory process. Renter may be responsible for any costs the Bank incurs in this process including drilling/force open fees, notary fees, shipping, storage expenses or other costs associated with terminating the Agreement.