How to Save Valuable in Bank Safe Locker Box

by Contributor ; Updated July 27, 2017
Save Valuable in Bank Safe Locker Box

Every now and then you hear about burglary but yet may not have taken adequate precaution to protect your valuables. Following are steps you can follow to store valuables safely in bank's safety deposit box, it is easy and inexpensive.

Step 1

Determine the valuables (like jewelry) and important documents (like passport, will) that you want to keep safely.

Step 2

Determine the size of the safe box you would need. Tip: you can start minimally as you will be charged by the size.

Step 3

Evaluate pricing. Enquire in your local bank whether they provide safe-deposit box service. Most reputed banks (like Bank Of America, Wells Fargo) offer basic rental for free when you maintain minimum balance.

Step 4

Before you commit, do trial runs to the safe-deposit location from your home or work to make sure that you can access your valuables conveniently. This is very important for sustained and efficient use.

Step 5

Fill out application. Authorize power of attorney as appropriate to operate the safe-deposit box in addition to yourself.

Step 6

Store your valuables. Make a list of items you are storing in the safety box along with relevant particulars about the safe box and store it somewhere safely. Tip: attaching it to your will document might be a good idea.

Step 7

Make sure that you have secured the safety box key securely.

Step 8

Review from time to time to make sure you are properly storing your valuables.

Tips

  • You might want to exhaust options with your existing banking institutions before venturing out. Tip: most mortgage banks offer safe service for free or at nominal charges. Just like your retirement investment evaluation, it would be a good idea to periodically evaluate your safe deposit contents.

Warnings

  • Keep in mind that you will be required to produce all original keys when you want to close the account.