Independent safety deposit box vault to open in Dublin…

A safety deposit box facility, costing less than one euro a day, gives consumers a real choice about where they can securely store their valuables as bank charges increase and house burglaries grow. So here's a look at one of the safest places in town.

Merrion Private Vaults in Dublin will have several thousand safety deposit boxes of varying sizes. Clients will retain a safety deposit box for an annual fee that starts at €300 incl. VAT, which is nothing compared to the price of your valuables. The company is now taking advance bookings for the safety deposit boxes and has received over 900 enquiries. The entrepreneurs behind Merrion Private Vaults, Seamus Fahy from Limerick and David Walsh from Cork (pictured below) said that the vault has been built from scratch and has the very latest security technology installed. Up to twenty jobs will be created directly in the company and in supporting service providers. A leading consultant, who is regularly commissioned by Lloyd’s insurance to assess such premises around the world, assisted the founders in constructing the vault and choosing the most appropriate technology to keep it secure. Such is the standard of security at Merrion Private Vaults, Lloyds has approved the system and is the main underwriter and insurer for the company. The vault employs sophisticated security systems to ensure that access to any box is limited to the authorised person only. So you can sleep soundly at night knowing you, and only you, can access your most precious possessions. The new Merrion Private Vaults will open in September and the company is currently taking bookings for the several thousand boxes which come in five sizes. Merrion Private Vault’s standard safety deposit box, which measures 3" x 5" x 24", costs a mere €300 (including VAT) a year, which is equivalent to 78cent a day before VAT. The initial response to the pre-opening bookings has come from all sections of Irish society as well as international residents in Ireland. Students from abroad embarking on an extended study period in Ireland and expatriates working in Ireland on short term contracts have been quick off the mark to book their boxes to store their valuables, instead of leaving them in the office, home, or rented accommodation.  . The person who would like to expand his collection of classic watches will find that a safety deposit box removes the risk of leaving them in a small safe at home and reduce their household insurance premium. Similarly the socialite who would like to wear her most expensive jewellery to a gala event could take the necklace or rings from the private vaults for the weekend and return them on Monday morning. Longer term, the safety deposit box provides a secure home for items such as house deeds, passports, important data on memory sticks, items of sentimental value such as old photos and documents, a deceased mother’s wedding ring etc. For insurance purposes there is a clear saving where the valuables are in a safety deposit box rather than stored at home. A comprehensive insurance policy will be available for all valuables underwritten by Lloyds on London. Cash and valuables hidden in the attic or the mattress or home safe are a dangerous attraction for burglars who will resort to violence to secure their target. For more details on sizes, price and location check out www.merrionprivatevaults.ie