Man finds $4,000 missing from safe deposit box at bank
WEST ALLIS, Wis. - A West Allis man thought his money was safe in a bank. Then, he discovered $4,000 missing. His safe deposit box turned out to be anything but.
"It made for a lousy Christmas," said Jeffrey Temmer. "I was laying in bed for a week depressed."
Temmer went to the Wells Fargo in November to get money for Christmas shopping. He says when the bank manager took him into the vault, they found his box’s lock drilled out.
The $4,000 Temmer says he’d left in the box was gone.
"[The manager] was as shocked as I was," said Temmer. "We went back to her desk and she was gonna do some investigating."
A safe deposit box is not a bank account. It’s a storage space at a bank where customers can keep valuables in a metal box for a fee. Temmer says he’s current on his payments.
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"I’ve had [the box] for years and I only keep money in there that I don’t want to touch unless I really have to," said Temmer.
Jeffrey Temmer
West Allis Police are investigating Temmer’s case.
Kent Belasco is director of the Marquette Commercial Banking Program. He says that safe deposit boxes are usually secure, and good place to keep key documents, passport and other valuables.
"There’s a better chance of a robbery at home or a fire," said Belasco. "I have a key and my bank will have a key. They can’t open it without me."
However, Belasco says unlike a savings or checking account, the contents of a safe deposit box are not insured by the FDIC.
"The bank is not liable for that because they don’t even know what’s in there," said Belasco.
Kent Belasco
Belasco says a bank might refund a customer for a safe deposit box if negligence is involved. Or, to protect its reputation.
For two months, Temmer and his family asked Wells Fargo to provide a refund. Temmer says the bank wanted a signed affidavit, which he provided, and a police report that Temmer can’t get while the case is open.
"I’m hopeful [now] that Contact 6 is here," said Temmer.
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Contact 6 emailed Wells Fargo about Temmer’s missing money. One day later, Temmer says he got a phone call promising him a full refund. Less than one week later, he walked out of a meeting with the bank with $4,500.
"They gave me an extra $500 for my trouble, which I thought was very nice," said Temmer.
Two days prior, Wells Fargo told Contact 6, "We reviewed the facts of the case and are working with the customer to return to safe deposit box contents. We sincerely apologize to our customer that our communication on this matter and the resolution did not occur sooner."
Wells Fargo says because their correct process was not followed, it approved Temmer’s refund upon receiving his affidavit.
"I don’t think it would’ve happened this fast without Jenna Sachs and Contact 6," said Temmer. "I’m just happy it’s over. I’m happy I got my money."
Wells Fargo said it doesn’t know what happened to Temmer’s money. It says the situation is unusual and the bank regrets it.
As it happens, Temmer’s brother has appeared on FOX6 several times. He’s the president of the Better Business Bureau Serving Wisconsin.