safe keeping

safe keeping
Fin
the holding of share certificates, deeds, wills, or a locked deed box on behalf of customers by a financial institution. Securities are often held under the customer’s name in a locked cabinet in the vault so that if the customer wishes to sell, the bank can forward the relevant certificate to the broker. A will is also normally held in this way so that it may be handed to the executor on the customer’s death. Deed boxes are always described as “contents unknown to the bank.” Most institutions charge a fee for this service.
Also known as safe custody

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Look at other dictionaries:

  • Safe-keeping — Safe keep ing, n. [Safe + keep.] The act of keeping or preserving in safety from injury or from escape; care; custody. [1913 Webster] …   The Collaborative International Dictionary of English

  • safe keeping — /seɪf ki:pɪŋ/ noun the fact of being looked after carefully ● We put the documents into the bank for safe keeping …   Dictionary of banking and finance

  • safe keeping — noun preservation in a safe place …   English new terms dictionary

  • safe-keeping — n. Preservation, guardianship …   New dictionary of synonyms

  • safe keeping — …   Useful english dictionary

  • safe-keeping — …   Useful english dictionary

  • place for safe keeping — index depository Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • Safe-keeping account —   An ISO term. The account from which securities are to be withdrawn or to which securities are to be deposited. [/34x] 4*35x …   International financial encyclopaedia

  • keeping — n. care 1) in keeping (in safe keeping) conformity 2) in keeping with (in keeping with regulations) 3) out of keeping with * * * [ kiːpɪŋ] out of keepingwith [ care ] in keeping (in safe keeping) [ conformity ] in keeping with (in keeping with… …   Combinatory dictionary

  • safe — adj. & n. adj. 1 a free of danger or injury. b (often foll. by from) out of or not exposed to danger (safe from their enemies). 2 affording security or not involving danger or risk (put it in a safe place). 3 reliable, certain; that can be… …   Useful english dictionary

  • keeping — noun (U) 1 in sb s keeping being looked after or guarded by someone 2 in safe keeping being carefully guarded somewhere 3 in keeping/out of keeping (with sth) suitable or not suitable for a particular occasion or purpose: Please ensure your… …   Longman dictionary of contemporary English

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