Schedule of Additional Charges

1. Insurance.

Metropolitan Safe Deposits carries comprehensive risk insurance. The policy is placed by Marsh & McLennan a global leader in insurance broking and risk management with a knowledge of our industry.

Subject to pre-agreed amounts, Metropolitan will assume liability for loss or damage to items deposited in our safe deposit boxes.

Additional Contractual Liability (all risks contents insurance) per £1,000 = £2.82 per annum.

The minimum term for Additional Contractual Liability (ACL) is 12 months and is subject to the customer maintaining a safe deposit box. If you do not continue to maintain a safe deposit box contract, ACL will cease automatically and no refund of payments for any unexpired period will be due.

We will advise when your ACL is due for renewal, if payment is received within 60 days from the “start date,” as shown on your renewal invoice ACL will remain in force. ACL will however automatically terminate if payment has not been received by 60 days from the “start date” as shown on your renewal invoice.

2. Replacement Lock (if you have lost one key).

£120.00 per lock including two keys.

3. Drill out Lock (if you have lost both keys).

Monday to Friday: £250.00 per lock including keys, drill outs available subject to appointment Monday to Friday.

Weekends: £320.00 per lock including keys, drill out subject to prior arrangement, availability of engineer and branch opening hours.

4. Replacement Access Card.

£10.00 per card.

5. Overdue Renewal Payment- should you renew your account for a further period of time.

Interest will be charged at 2% per month or part month on all outstanding balances.

6. Overdue Renewal Payment- should you close your account.

A fee pro-rated to the renewal invoice will be made to reflect the number of months you are overdue. This will include the overdue period up to and including the termination date of your contract as served by any notice issued by Metropolitan Safe Deposits.

Interest will be charged at 2% per month or part month on the outstanding pro-rated fee.

7. Box Drill Charges (where you have failed to renew account and a termination notice has been served).

Engineer and replacement lock - £250.00

Company representative fee - £120.00

Solicitor’s fee – £180.00 (plus VAT at the prevailing standard rate)

8. Correspondence, Research and Probate.

£25.00 per letter sent (including replies to solicitors, yourself etc. relevant to court orders or other matters outside of the control of Metropolitan Safe Deposits).

£50.00 for the first half hour thereafter £75.00 per hour or part thereof for researching, obtaining and producing information relevant to your account including account details, box usage etc.

£75.00 for processing a Valid Grant of Probate or Letters of Administration including but not limited to:

  • accepting and verifying the Valid Grant of Probate or Letters of Administration.
  • obtaining Photo ID and Proof of Address for all Executors.
  • obtaining the requisite authorities in the absence of one of the Executors or Administrators when there are joint Executors or Administrators.

For more complex Estates, Probate or Letters of Administration, we will charge our reasonable costs and expenses (including but not limited to any legal fees we incur) in order to satisfy ourselves that the persons requesting access to your Box have the requisite authority to do so. We will advise you at the time of any costs and provide a quote.

9. Power of Attorney (POA)

£75.00 for processing a POA including but not limited to:

  • checking and verifying existing customer information held on file.
  • providing the POA templates.
  • obtaining the requisite authorities.
  • accepting and verifying all certified documents including, the POA, Photo ID, Proof of Address etc.

We will only consider a Power of Attorney if the matter is extremely urgent. Each application for a POA is reviewed on a case by case basis and all parties (customers) to the account must agree to a POA.

10. Returned Cheque Fee

In the event that a cheque is returned to us as unpaid and MSD has incurred costs from our bank a fee of £10.00 will be applied.

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