Safe Deposit Box
Bank vault box: how it works, cost, risks
How it works
- •Rent a vault box: two keys — yours and bank's, or biometrics
- •Bank doesn't know contents — it guarantees the vault, not items
- •Access during vault hours with passport
- •Access can be granted to a proxy via power of attorney
A box isn't an account: contents aren't covered by deposit insurance and the bank isn't liable without separate insurance. For valuables — record an inventory at move-in.