Schedule of Additional Charges

1. Insurance

Metropolitan Safe Deposits carries comprehensive risk insurance. The policy is placed by Marsh Limited which is part of Marsh & McLennan Companies inc, a global leader in insurance broking and risk management. 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 = £3.00 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 close your 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 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)

£150.00 per lock including two keys.

3. Lock Drill Customer Request

Where you have lost both keys for your safe deposit box

Monday to Friday £320.00  

Charges are per lock drilled including new keys, drill outs are subject to the availability of an engineer. 

If you fail to arrive for a drill out or fail to provide 24 hours’ notice of cancellation, you will be charged £160.00 in respect of appointments for Monday – Fridays.  

4. Overdue Payment

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

5. Lock Drill Notice Served by MSD

When we have drilled open your box for non-payment after notice has been served by MSD. 

• Engineer and replacement lock - £320.00
• Company representative fee - £120.00
• Solicitor’s fee - £250.00 

6. Correspondence and Research

£50.00 for the first half hour, thereafter £75.00 per hour or part thereof for researching, obtaining, and producing information including account details, box usage etc. or other such information outside of the control of Metropolitan Safe Deposits or as required by a court order or lawyer.

7. Probate

£100.00 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, we will charge our reasonable costs and expenses (including but not limited to any legal fees we incur) to satisfy ourselves that the persons requesting access to the Box have the requisite authority to do so.  We will advise you at the time of any costs and provide a quote. 

8. Power of Attorney (POA)

£200.00 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. 

9. Contract Variation Fee – Customer Removal 

Contract variation fee £85.00. 

We recognise that on rare occasions a customer may wish to make changes and be removed from a safe deposit box. We will consider your request and if it is accepted, you will be asked to make an appointment with one of the other persons who jointly own the safe deposit box. Requests are made by email please see our FAQ’s for more information.

10. Other charges

£10.00 If a customer cheque is returned by our bank unpaid and MSD has incurred charges.

£15.00 to stop a cheque issued by MSD to a customer if we incur bank charges subject to the stopping of the cheque not being the fault of MSD.

£10.00 to issue a new replacement access card, subject to the customer presenting valid identification.

£30.00 to provide a replacement safe deposit box container if damage to the container is caused by the overfilling or forcing of the container, or any other customer misuse.