Until recently, many banks provided safe deposit boxes to current account holders for an annual fee. Due to cost-cutting measures however, they are now being phased out by almost all major banks. The removal of this provision creates a situation whereby valuable and expensive items are now susceptible to increased risk. Customers, who previously relied on these boxes to keep treasured and important possessions secure, are now left with few options to ensure these items have sufficient protection. Alternative options are now being sought. Fortunately, there are now facilities which can assist, and employ the same level of security found in major banks.

Safe deposit box benefits

A safe box is a fireproof metal strongbox, securely located inside a vault. Typically, they can be rented for the purpose of storing valuable items, such as documents, jewellery, deeds and collectible items. This box is usually a safer option compared to keeping such items at home. The cost of renting is subject to the size of box required, so it's always best to find an exact fit, in order that you don't pay more than you need to. Safety deposit boxes are usually rented for either a 6 or 12 month rolling period.

How safe deposit boxes work

Safe boxes are designed with a double lock. Upon rental of a box, the individual renting the box is issued one of the keys, while the other key is held by the service provider. Some service providers also offer digital safes with an array of features, and these provide additional types of security. These can include pass codes, fingerprint and biometric technology.

Here's a more detailed list of items you could keep secure in your safe deposit box;

1. Birth and Marriage Certificates
2. Divorce Papers
3. Insurance policies
4. Property Deeds
5. Rare Coins
6. Jewellery
7. Family heirlooms
8. Stock or Bond Certificates
9. Foreign Currency

5 Good Reasons to rent a safe deposit box

Safe boxes are one of the most secure options in which to store important possessions. Other major advantages of safes include;

1. Your items are protected from fire, flood and other natural disasters
2. Your valuables and other important items are protected from theft
3. It's a cost-effective solution to keep valuables private and safe
4. Your possessions are protected from being lost or misplaced
5. Only the people you tell will know where to find your important papers

If you're interested in a safe deposit box, call us on 0121 679 0516, or visit our website; http://www.safeboxesltd.com