When last year the pandemic started abating, many were those who were looking forward to starting to travel again. Marlene* (name changed) and her family spent weeks planning a trip together as a family – something they had not done in ages.
But upon their return, all the lovely memories of their trip went up in smoke. As soon as they walked into their house, they found their house was broken into. What was immediately clear was that the thieves knew exactly where to look and what to look for. All the jewellery they had stored in their bedroom cabinet was no more.
“Every time a new client comes to speak with us to rent one of our safe deposit boxes, they end up telling us themselves what would have spurred them to consider our service and this client’s story is one of the many stories we’ve been hearing over the past months,” explained Jeanne Borg, director of Ferrovault.
“In fact, this story was told to us by a client of ours who visited our facility at Ferrovault. She was about to go abroad on holiday and when she came to see us, she told us that she came because of what had happened to her friend. She was so anxious that she wanted to avoid it happening to her again so once she came to us and rented a safety deposit box, she knew she could go on holiday with her mind at rest,” added Borg.
Ferrovault is Malta’s only safe deposit box service, conveniently centrally located in Iklin. It consists of a compound of several safe deposit boxes designed to offer a private, discreet, and secure service to local, international, and corporate clients.
The company started its operations discreetly last year, to gauge clients’ expectations and once the service started gaining traction, the company officially launched its service earlier last May.
“The timing worked in our favour because those banks who were already offering a similar service were stopping it so we saw in this an opportunity for our company who invested a lot to be able to offer an even better service. In fact, Ferrovault today is the only facility offering safe deposit boxes in Malta,” explained Borg.
A higher level of security
Ferrovault is a result of what is also happening in other countries such as the UK where this same model has found its niche due to more banks stopping their safe deposit box service. In Malta, the same thing is happening, which created the same needs. In fact, the services offered by Ferrovault are based on the same model offered by the company in London.
The services offered by Ferrovault are based on the same model offered by the company in London.“Our service has been improved upon the service that used to be offered by local banks because at Ferrovault, access to the vault is not limited, clients do not need to make an appointment before coming, we remain open for longer hours, and we offer free insurance up to a value of €10,000.”
Although Ferrovault’s facility is located below ground level, the place is equipped with a very efficient ventilation system that guarantees fresh, clean, and dry air. In fact, the company plans to also create new compartments specifically for the safe storage of art and other items that require a damp-free environment.
“Although our service used to be offered by some banks, as a concept, it is still not as common, and people rest in the false idea that what happened to this person and her family whilst they were abroad is never going to happen to them. But then, from the stories we are coming across, many end up telling us that a mistake like this is only made once and that once it happens, you will never be trusting again. So why do people wait for something like this to happen before safeguarding themselves?”
One of the most common enquiries by those interested in the service concerns the eventual access to their safety deposit box.
“This is a good question and an important one. In fact, it is good to note that Ferrovault operates its safety boxes with only one key which the client keeps so only the client has access to the box. Besides the fact that the key is only in the client’s possession, access to the vault is only possible with the use of biometric technology using fingerprints,” added Borg.
Col. Claudio Spiteri who is responsible for all the aspects concerning the security at Ferrovault’s facility explained how the service has been particularly attracting interest mainly due to the fact that it offers new levels of security beyond what the local market has been offered to date.
“In fact, all those who visit us always ask us what type of security we offer. First and foremost, the security applied at our facility has been classified at Grade 6 – a very high level. And whilst the vault is protected by state-of-the-art security technology provided by Pincott Security, its management is conducted by Kavallier Security Services Ltd, two highly professional and respected brand names in the local provision of security solutions.”
“The ordeal that this particular family went through some months ago is only one of the many stories we have been coming across,” added Borg.
“In fact, when you hear of such stories where someone would have gone out only to return and finding they have been robbed, you realise what a nasty experience this must have been. This is why so many people are wanting to find out more about our services,” she concluded.