In addition, the contents of your Safe Deposit Box can be insured therefore offering you complete peace of mind. This wealth could be stored in cash, gold/silver bullion or diamonds. To protect your savings against a Bank Run, you should consider storing some of your wealth in a Safe Deposit Box. In 2012, Greek and Cypriot Banks experienced Runs on their banks before both countries were bailed out by the EU.

In recent times (2007), we witnessed a Run on a UK Bank (Northern Rock), which was subsequently nationalised. Other examples include the British South Sea Bubble, the post-Napoleonic depression and the Great Depression (1929–1939). My blog today is to give you a brief history of this phenomenon and to offer some advice on how to protect some of your wealth against these events.Ī “Run on the Bank” generally occurs in a banking system when a very large number of its customers withdraw their deposits at the same time and either demand cash or a transfer of those funds into government bonds, metals, other more tangible assets, or a safer bank because they believe that the financial institution will become insolvent.īank runs first appeared in the 16th century when English traders issued promissory notes and could not pay out due to bad harvests, plummeting parts of the country into famine and unrest. Run on banks is nothing new, although they are relatively infrequent.

In recent days there has been a run on two of Bulgaria’s largest Banks, Corporate Commercial Bank and First Investment Bank.

Bank of cyprus safe deposit box