The lease agreement may also include a clause stating that, if the bank believes the contents of the safe deposit box are unsafe, they can force it open and dispose of whatever is inside, charging any disposal fees to you. When you open a safe deposit box, the bank should present you with a lease agreement spelling out how long you’ll have access to the box, what you’ll pay for it and what you can or can’t add to it. The kinds of things that banks typically prohibit people from storing in safe deposit boxes include: But it’s also important to remember that cash sitting in a box isn’t earning interest the way it could if you kept it in a savings account, money market account or certificate of deposit account instead. This mainly has to do with the limited protections extended to safe deposit boxes. Technically, you could keep cash in a safe deposit box, but the FDIC doesn’t advise it. Passports or other identification documents.
BANK OF AMERICA SAFEBOX RENTAL COST PLUS
Typically, it takes two keys to open a safe deposit box: your key, plus a key that your bank or credit union retains. Safe deposit boxes are kept in a secure vault at a bank or credit union branch. Depending on the financial institution, they can be as small as 3 x 5 inches or as large as 10 x 15 inches.
These boxes, which can be rented at either brick-and-mortar banks or credit unions, come in different sizes and are typically made of metal. What Is a Safe Deposit Box?Ī safe deposit box is a secure container that you can rent to store important items. Before signing up for a safe deposit box, it’s helpful to understand how they work, what they cost and when it makes sense to use one. Safe deposit boxes can be an alternative to keeping a safe at home, although they may not be right in every situation. Starts at $25 per year for a $5,000 policy.When you’re looking for a place to store cash, important documents or other valuables, a safe deposit box is one option to consider. Safe deposit box insurance covers all legal property stored inside your box against natural disasters, fire, flood, robbery, and other catastrophes. The first and only safe deposit box insurance coverage of its kind. *Auto-Debit required from a Metairie Bank Account THE CONTENTS IN THE SAFE DEPOSIT BOX ARE NOT INSURED BY THE FDIC. Metairie Bank personal or business checking account.Ĭontact your nearest location for available box sizes. The convenience of having your rental fee automatically deducted from your.A private viewing room that you can use during normal business hours.Access for only the people you authorize.Depending on what you need to store, we offer various size boxes with rental fees that vary according to the box size. They’re Your Key to Securing What’s Most Important to You.Ī METAIRIE BANK SAFE DEPOSIT BOX provides you with peace of mind when it comes to storing valuable documents and other items in a SAFE, SECURE ENVIRONMENT.
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