If you want to make sure all of your valuables are safe and secure, opening a safe deposit box is a way to ensure that they are well protected. Banks offer safe deposit boxes for purchase that you can use to keep your valuable items safe. They are available in various sizes depending on how much or what you want to store there. By having your safe deposit box at a bank, you can be sure that no harm with come to your items.
- Skill level:
Things you need
- Safe deposit box
- Money to pay fee
Sort out the items that you want to put in a safe deposit box. This will help you determine what size you will need and also help you select a bank. Some banks only have one type of size.
Choose a bank that has an area with safe deposit boxes. You may want to choose the bank that you typically bank at because sometimes you can get a discount for being a customer.
When you decide on the bank and size of the box, you will need to fill out an agreement to lease the box. You can work with the bank's personnel to help you with questions about their policies. If you want others to have access to the box, they will be required to sign the paperwork as well.
Once you are assigned a box, place your items in the box and lock it with the keys that are provided to you.
Find a safe place to keep your keys. It can be really hard to replace them if they are lost.
Tips and warnings
- Safe deposit boxes are not FDIC insured. Be sure not to store anything in your safe deposit box that you could possibly need when the bank is not open.