Updated: 12 hours ago
With the digitization of personal information and banking, the safe deposit box seems to be the product of the last century. Financial advisers said that some people still want the safety concerns of valuables to stay away from the family, to safely store valuables, important documents, and collectible souvenirs.
The bank safe deposit boxes is a lockable storage box, and one box is a unit, which is usually stored in a bank vault or other secure area, provided by the bank and the rental company. Usually, the customer has a set of keys. Before entering the safe deposit box, the manager must be authenticated. The manager uses the management key and the customer key to insert the lock to open the box.
Some banks and rental companies now offer unattended, 24-hour safe deposit box systems, such as fully automatic smart safe deposit boxes, or self-service identification systems, which are not restricted by working hours.
At present, some practitioners say that although there is no clear statistics, there is a downward trend in the demand for safe deposit boxes, especially for younger customers, who prefer to use digital devices to store files, but for home or The safe deposit box is still a very safe place to store for the company’s valuables.
Some customers who are preparing to rent safe deposit boxes are still providing this service when they consult several banks in the local area. In particular, some large assets, banks will provide free safe deposit boxes to store personal valuables for customers, as an According to the survey, there are still millions of boxes in the state of rent, and there are a large number of bank rental companies providing rental services for safe deposit boxes.
Safe deposit boxes are best for storing documents and valuables that you don't need for a short period of time. If you travel frequently or on a business trip, it may not be good to put your passport in it, because you can only use the safe deposit box during normal banking hours.
After the owner’s death, the lawyer usually cannot get the remains that are kept in the safe-deposit boxes. This will result in the content of the will not be understood by the lawyer. It is recommended that the owner keep in touch with the lawyer and deposit the will in the hands of a trusted person or other places.
The banker told me that it is not too smart to store cash in a safe deposit box. Unlike the money in the bank's digital account, the cash in the safe deposit box cannot be insured by the insurance company and may be easily stolen. Last year there were cases where bank employees stole $50,000 in cash from customers' boxes. So it is better to deposit cash into your bank account for more insurance.
Bank vaults are not able to withstand the risks posed by natural disasters. Therefore, in places prone to natural disasters, it is best to store documents or other valuables that may be damaged by flooding in plastic bags or containers to prevent damage from invading floods.
At the same time, lawyers advise consumers to carefully read their safe deposit box contracts, because banks and rental companies do not retain the customer's spare key, so if you lose the key, you must destroy the lock and replace it. This cost is not low, so be sure to keep it. The good key, don't lose it.
The second is to timely deliver the latest safe deposit box rental fees. Generally, after a period of notice, the bank and the rental company may be allowed to sell the items in the safe deposit box to pay the overdue fee. The excess will be unclaimed. Property is handed over to the government, so it is also important to pay rent on time.
Finally, lawyers encourage customers to regularly check the items in the safe deposit box when time permits. There have been cases of bank mistakes that damage the safe deposit box and empty it because the number of this box is very similar to another box that is in arrears with the rent. So you need to check the number of items in your box and whether they are in good condition.
Here are some questions and answers about the safe deposit box:
How much does it cost to rent a safe?
Fees vary by location and box size, and annual fees range from $30 to $250.
Are my valuables insured?
Usually, if you want to store jewelry or other very valuable items, you'd better buy insurance separately.