Sentinel Vaults - Safe Deposit Boxes & Document Safekeeping
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Sentinel Vaults - As featured in Irish Broker Magazine

Sentinel Vaults - As featured in Irish Broker Magazine | Sentinel Vaults - Safe Deposit Boxes & Document Safekeeping | Scoop.it
Sentinel Vaults's insight:

Sentinel Vaults is Ireland’s premier safe deposit box facility and gives Irish brokers the opportunity to incorporate the additional benefit of secure storage when offering their clients financial advice.

 

The facility is a former bank vault that has been upgraded to surpass bank standards, and is located on the prestigious Waterloo Road in Ballsbridge, Dublin 4. Sentinel Vaults currently offer two main services; safe deposit boxes and document safekeeping.

 

With over 27,000 homes burgled last year, and leading Irish banks no longer offering a safe deposit box service, there is an increasing demand for the services provided by Sentinel Vaults. Due to this demand, Sentinel Vaults have recently launched phase two of the facility having reached its client quota for the initial phase, with a third phase on the horizon.

 

While Sentinel Vaults offer a much sought after service for members of the community, they have also noted significant demand for safe deposit boxes and document safekeeping in the business community. This gives Irish brokers the opportunity to increase their client base and explore new channels and potential business partnerships.

 

Sentinel Vaults offer their clients a safe and secure place to store their valuables and important documents. They offer peace of mind by providing state-of-the-art, modern security to keep savings, gold, jewellery, heirlooms, wills, deeds and other sensitive documents safe and secure.

 

Privacy and discretion is guaranteed; no one else will have access to your box, or know what it contains. Clients are identified by fingerprint, facial image and a unique pin code to ensure that only the authorised box holder is granted access.

 

Sentinel Vaults is Ireland’s only certified member of the Safety Deposit Association and the country’s first and only independent safe deposit box facility inside and original bank vault.

 

An Garda Síochána have recommended the use of such facilities and as a result safe deposit boxes and document safekeeping have recently been mentioned as crime prevention solutions on RTÉ’s CrimeCall. Sentinel Vaults are working with the National Crime Prevention Unit and many of the Residents Associations throughout the country.

 

Why Choose Sentinel Vaults?

 

Location – The underground facility is centrally located in a former bank vault, in the heart of Ballsbridge, Dublin 4. Sentinel Vaults is discreetly located with many embassies and financial institutions in close proximity, which offers clients further peace of mind.

 

Convenience – Sentinel Vaults is open 7 days a week, and offers its clients free, unlimited access to their safe deposit box. Clients can access their valuables and documents at any time during opening hours, and there is no additional charge.

 

Accreditation – Clients prefer a safe deposit box facility that is certified, registered and accredited. By aligning themselves with accredited bodies, Sentinel Vaults are setting the standards for the safe deposit box industry in Ireland. They are certified by the Safety Deposit Association and registered with the Financial Conduct Authority and the Information Commissioner’s Office.

 

Secure – Sentinel Vaults is manned on-site by highly trained staff, and monitored 24 hours a day off-site by Chubb Security ensuring constant, continual protection. The facility’s 6 Level Security System guarantees a secure, risk-free, modern safe deposit box facility – the next generation of security.

 

Trusted – At Sentinel Vaults the facility managers are experienced and mature individuals who will discreetly look after their clients with the utmost respect for their privacy.

 

Private – As a valued Sentinel Vaults client only you can access your safe deposit box through biometric fingerprint entry and a unique pin code, and only you know the contents of your safe deposit box. Private viewing rooms are available to ensure confidentiality.

 

Clients of Irish brokers can choose from a variety of box sizes to suit their needs. Prices start from just €180 for a small box; ideal for storing jewellery, digital data, savings and collectables such as stamps and coins. A total of 12 sizes are available for clients who may wish to securely store bulkier items such as artwork, antiques, precious metals and large files.

 

Irish brokers can also offer their clients a document safekeeping service. Clients can secure passports, house deeds, wills and other important documents at Sentinel Vaults with unlimited and immediate availability on request.

 

These services benefit both the broker and their clients. Brokers can introduce new services to their financial advice, while clients can have peace of mind knowing their valuables and important documents are safe and secure.

 

Insurance can be arranged against all risks of physical loss or damage. Each box can be insured for up to €100,000 in respect of valuables and cash. Valuables may also be covered outside the facility of the safety deposit box within Ireland and UK, up to a maximum of 20 days per year.  In addition, kidnap and ransom may be included in the policy, i.e. if a person is kidnapped or is threatened and are coerced into handing over the contents of their safety deposit box, the policy will cover the value of the contents and also any ransom demand, up to €100,000.

 

Previously, people have been forced to use alternative unsecure methods to store their valuables, e.g. a hole in the ground, home safe, in the loft or other non-certified custodial services. It is imperative that customers realise the importance of using an accredited, certified and registered safe deposit box facility. Sentinel Vaults are setting the standards for the safe deposit box industry in Ireland. Sentinel Vaults, Ireland’s only certified member of the Safety Deposit Association.

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The End of Bank Safe Deposit Boxes in Ireland

The End of Bank Safe Deposit Boxes in Ireland | Sentinel Vaults - Safe Deposit Boxes & Document Safekeeping | Scoop.it
Sentinel Vaults's insight:

Why have the banks withdrawn safety deposit boxes? The globally recognised financial institutions (HSBC, Lloyds, TSB, Barclays, and NatWest) have moved away as it was not cost effective for them.

 

Traditionally Irish banks[1] used to offer bank safe deposit boxes and a safekeeping service. This service was normally reserved for their private clients, however this has now been withdrawn and banks are no longer accepting new customers.

 

Bank of Ireland, 2 College Green, Dublin 2: Sentinel Vaults had a very productive meeting with Bank of Ireland in relation to their bank safety deposit boxes. They confirmed that, despite inaccurate reports published online, Bank of Ireland have not begun writing to their customers giving them “6 months to clear out their safety deposit boxes”. They have, however, reduced their opening hours and are no longer taking on new customers.

 

Allied Irish Bank (AIB), 7/12 Dame Street, Dublin 2: currently have bank safe deposit boxes however, like Bank of Ireland, this service has been withdrawn and they are not accepting new customers.

Ulster Bank. 33 College Green, Dublin 2: have a vault in their basement, however customers were told to remove their valuables as the service was completely withdrawn.

 

Anglo Irish Bank (now IBRC: Irish Bank Resolution Corporation), 18/21 St Stephen’s Green, Dublin 2: Underneath the former head office of Anglo, Sentinel Vaults have seen the old Anglo Vaults. The vault has been sealed as there are 24 safety deposit boxes yet to be claimed. The special liquidator, KPMG, are responsible for tracking down the rightful owners.

 

Permanent TSB (PTSB) along with other banks and financial institutions such as the EBS Building Society used to offer a safekeeping service, mainly for house deeds. Customers who retrieve their title deeds from PTSB or EBS are then left with the documents in hand as they are not accepting them back.

 

With all the banks withdrawing their safekeeping service, this leaves Sentinel Vaults as the only secure vault in Ireland that are certified, registered and accredited. Their safe deposit boxes are inside AIB’s original bank vault.

 

From research conducted by Sentinel Vaults, they have found that customers are not interested in “who’s first”. Customers are concerned about the credibility, reputation and accreditation of the safe deposit provider. Sentinel Vaults are Ireland’s only certified member of the Safety Deposit Association.

 

There are other options to store your valuables; i.e. a loft, a home safe, a hole in the ground, an uncertified company etc. however, these options are not secure and are vulnerable when it comes to unexpected circumstances.

 

 

[1] List of banks include Bank of Ireland, AIB, Permanent TSB, EBS Building Society, Rabodirect, KBC Bank Ireland, ICICI Ireland

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