AN OLD IRISH PROVERB says it is “an ill wind that doesn’t blow someone some good”. And while the country’s biggest banks say they are continually losing deposits as savers look elsewhere, one of Ireland’s largest suppliers of safes has reported a surge in sales.
AllSafes.ie founder Neil Donnelly told the Irish Independent that sales of home safes were up by 80% in the last three months compared to the same time last year, when many customers citing fears about the possibility of a run on their bank resulting in their cash being inaccessible.
Donnelly said that while most customers did not offer an explicit reason for their purchase of buying a safe, he had seen “one or two instances where people have said to me: ‘I don’t trust the banks’.”
Many of his safes, he told the Independent, were being sold so that people could store their cash and jewellery securely at home. While overall sales of safes had increased by 25%, the steepest rise – the 80% jump – was in the domestic market.
While safes are a secure option for keeping cash securely on hand – and with “a stick of dynamite” not being enough to breach some of the more expensive safes – Donnelly said he didn’t necessarily advocate taking money out of banks, however.
“I’m not saying it’s a sensible thing to do at all,” he said. “It’s up to the individual person themselves to decide what they want to do with their cash.”
Read more at the Irish Independent >
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