
Having a safe deposit box room is a wise decision for anyone who wants to protect their valuable items.
These rooms are typically located in banks or other secure facilities and are designed to be resistant to fire and water damage.
The boxes themselves are usually small, ranging from 3x5 to 10x10 inches in size, and can be rented for a specific period, often with a minimum rental period.
Renting a safe deposit box is a relatively affordable option, with prices varying depending on the size and location of the box.
Security Features
Our safe deposit box room takes security seriously. We have a 90-ton vault that's wrapped in 11 layers of electronic security.
This vault is monitored around the clock by Siemens, a company that's trusted for its top-notch security systems. You can rest assured that your valuables are safe with us.
We're also insured by A+ rated global insurer AXA Insurance, which specializes in high-value property insurance. This means you're protected in case anything happens to your belongings.
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Here are some of the security features that make our safe deposit box room stand out:
- Siemens 24/7/365 security monitoring
- AXA Insurance high-value property insurance
- Better Business Bureau A+ rating
- Safety Deposit Association (SDA) membership
- Brinks armored transport for high-value property
- Templar Titan contingency response security team
- SDBIC Insurance Services, LLC safe deposit box insurance
- Underwriters Laboratories insurance underwriters security certificate
We've got multiple layers of protection in place to ensure that your valuables are safe and secure.
Understanding Safe Deposit Boxes
Safe deposit boxes are typically rented by individuals and businesses to store valuable items such as important documents, jewelry, and family heirlooms.
The size of a safe deposit box can vary, typically ranging from 3 inches wide to 15 inches wide, and 6 inches deep to 24 inches deep.
A safe deposit box is usually rented for a specific period, such as a year, and the renter is responsible for maintaining the box and its contents.
Safe deposit boxes are usually kept in a secure room, often with 24/7 access and advanced security features like alarms, cameras, and motion detectors.
The renter typically has access to the safe deposit box during bank hours, but some banks may offer extended hours or online access to the box.
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Safe deposit boxes are often rented by individuals to store items that are too valuable to keep at home, such as expensive jewelry or important family heirlooms.
The renter is usually responsible for the contents of the safe deposit box, and the bank is not liable for any loss or damage to the items stored inside.
You May Regret Storing Some Important Documents and Valuables in Your Bank
Storing valuable items and sensitive documents in a bank's safe deposit box room may not be as secure as you think.
In fact, many banks have been known to freeze or seize safe deposit boxes in cases of bankruptcy, foreclosure, or even a simple lawsuit.
Some banks have even been caught selling the contents of frozen boxes to the highest bidder, without notifying the rightful owners.
This can be a huge problem if you've stored irreplaceable family heirlooms, original artwork, or other priceless items in your safe deposit box.
You should also be aware that some banks may not even provide insurance for the contents of safe deposit boxes, leaving you vulnerable to loss or theft.
If you do decide to store valuable items in your bank, be sure to keep a detailed inventory and consider taking out separate insurance coverage to protect your assets.
General Information
Safe deposit box rooms are typically located within banks, and they're usually accessible during bank hours.
A standard safe deposit box is usually 3 inches wide, 6 inches deep, and 12 inches tall.
They're designed to store valuable items such as important documents, jewelry, and family heirlooms.
Renting a safe deposit box can cost anywhere from $20 to $50 per year.
Features
Our safe deposit box room offers a range of sizes, from 2” x 5” up to 10” x 10”, depending on branch availability.
You can choose from annual rental fees ranging from $18 to $75, depending on the size of your box.
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One of the benefits of renting a safe deposit box is the added security it provides, with automatic yearly renewal and only authorized signers allowed access to your box.
The dual key control system, requiring one branch key and one member key to open your box, adds an extra layer of protection for your valuable items.
Here's a breakdown of the available sizes and rental fees:
BlueVault Advantages
BlueVault offers 11 sizes of safe deposit boxes, ranging from small to 6 ft tall, giving you the flexibility to choose the perfect size for your needs.
The signup process is fast and easy, saving you time and hassle.
You can access your box quickly, whenever you need to.
BlueVault meets UL-681 Security System Standards, ensuring your valuable items are protected.
The service includes $5,000 zero-deductible insurance with every Safe Deposit Box, providing peace of mind.
You can increase the insurance to $1 million or more, quickly and inexpensively.
BlueVault allows month-to-month rentals, giving you the freedom to cancel or change your plan at any time.
Your BlueVault safe deposit box is not connected to a bank account, keeping your assets separate.
Here are the key features of BlueVault Safe Deposit:
Features
When renting a storage unit, it's essential to consider the features that come with it.
The size of the storage unit is a crucial factor, and these units offer various sizes ranging from 2” x 5” up to 10” x 10” depending on branch availability.
Annual rental fees can range from $18 to $75, which is a relatively affordable option for storing your belongings.
Automatic yearly renewal is a convenient feature that ensures you don't have to worry about renewing your rental agreement every year.
Only authorized signers are allowed access to the storage unit, ensuring that your belongings are safe and secure.
Private access for confidential inspection of box contents is a great feature for storing sensitive or confidential items.
Dual key control, where one branch key and one member key are required to open the storage unit, adds an extra layer of security to your belongings.
Here are the available sizes and corresponding rental fees:
Frequently Asked Questions
Is it illegal to keep cash in a safe deposit box?
No, it is not illegal to keep cash in a safe deposit box, but you should review your rental agreement to ensure it complies with your bank's policies.
Why are banks discontinuing safe deposit boxes?
Banks are discontinuing safe deposit boxes as they are considered outdated and unnecessary with alternative storage options available, such as home safes. This shift is part of a broader effort to modernize banking services and reduce costs.
What are disadvantages to a safe deposit box?
Disadvantages to a safe deposit box include restricted access during bank hours and potential fees. Additionally, contents like cash may not be insured, so it's essential to understand the limitations before renting a box
Sources
- https://www.bluevaultsecure.com/safe-deposit-boxes.php
- https://www.fdic.gov/consumer-resource-center/five-things-know-about-safe-deposit-boxes-home-safes-and-your-valuables
- https://www.istockphoto.com/photos/safety-deposit-box-room
- https://www.aarp.org/money/investing/info-2020/what-to-lock-in-safe-deposit-boxes.html
- https://www.ncsecu.org/branch-services/safe-deposit.html
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