The head of Sparkasse Gelsenkirchen, a savings bank in the western German city of Gelsenkirchen, stated that 140 safe-deposit boxes remained unaffected by a major burglary that occurred over the Christmas period in late December 2025.
Michael Klotz, the bank’s chief, made the comment during a town-hall discussion broadcast by public broadcaster WDR. He explained that these particular boxes had not been forced open by the thieves. The heist, described as one of Germany’s most spectacular in recent years, involved burglars who drilled through a thick concrete wall—likely from an adjacent multi-storey car park— to access the vault.
They broke into and looted nearly all of the approximately 3,250 safe-deposit boxes with estimates of over 3,000 affected, stealing cash, gold, jewellery, and other valuables. The total value stolen is unclear but has been estimated in the tens to hundreds of millions of euros.
Register for Tekedia Mini-MBA edition 19 (Feb 9 – May 2, 2026).
Register for Tekedia AI in Business Masterclass.
Join Tekedia Capital Syndicate and co-invest in great global startups.
Register for Tekedia AI Lab.
The break-in went unnoticed for hours, with authorities alerted only after a fire alarm possibly triggered by the thieves’ activities on December 27 or 28, 2025. No arrests have been made as of mid-February 2026, and the perpetrators remain at large. Many victims have faced significant losses, as standard insurance coverage for safe-deposit box contents is typically limited to around €10,300 per box, far below what some held.
This has led to lawsuits against the bank, customer protests, and criticism of security measures. The 140 unaffected boxes represent a small portion of relief for those customers, amid broader devastation for most others affected by the raid.
In Germany, safe-deposit boxes (Schließfächer) at banks like Sparkassen are typically rented under a lease agreement rather than a custody contract. This means the bank provides secure space and access but does not automatically insure or guarantee the contents against all risks, such as theft.
The recent heist at Sparkasse Gelsenkirchen, the bank has stated that the contents of each affected safe-deposit box are insured up to €10,300. This amount applies per box and includes items like cash, gold, jewelry, and other valuables. Over 100 customers at this branch had arranged higher coverage through additional insurance via the bank or privately.
The bank emphasizes that this is the baseline protection; anything beyond €10,300 requires separate arrangements by the customer. This limit has been widely reported in connection with the burglary, where thousands of boxes were looted, and many victims face losses far exceeding this amount.
Many Sparkassen and private banks offer limited or no automatic insurance for box contents, or cap liability at similar low figures around €10,000–€25,000. Some institutions explicitly state that contents are not insured by the bank, shifting responsibility to the customer.
Banks are required to provide “tresormäßige Sicherung” (vault-like security) per the recognized state of the art. If negligence or inadequate security is proven; failure to meet standards, the bank could face unlimited liability under German law. This is central to ongoing lawsuits against Sparkasse Gelsenkirchen, where victims claim lax security.
Additional Options for Customers
Many policies extend coverage to items in a bank safe-deposit box, often up to €25,000 or more (check your policy terms for exclusions, limits, and requirements like proof of contents). Special valuables insurance or rider extensions: For higher-value items (jewelry, gold, art), customers can buy targeted policies from insurers.
Bank-offered upgrades: Some banks provide optional higher-coverage add-ons for an extra fee. Document contents thoroughly (photos, receipts, appraisals, inventories) to support claims. Notify your own insurer promptly if applicable. In the Gelsenkirchen case, the bank has a dedicated information page, and police/victims are gathering evidence for potential claims.
The heist has sparked debate on insurance transparency and security standards, with regulators like BaFin highlighting the need for customers to understand coverage limits.