Safeboxes

Safeboxes, also known as deposit boxes or safe deposit boxes, are secure containers located within a bank or a specialized safe deposit facility. These boxes are rented by individuals or businesses for the safekeeping of valuable items that are not commonly used or are of sentimental importance. The contents typically include documents like birth certificates, wills, property deeds, insurance policies, and rare collectibles, as well as small, high-value items such as jewelry, precious metals, or rare coins.

Access to a safebox is controlled by a dual-key system. The bank or facility holds one key, and the renter holds the other. Both keys are generally required simultaneously to open the individual safebox. This security measure ensures that only the authorized renter, in the presence of a bank representative, can access the box's contents. The facility itself is heavily secured, often featuring reinforced walls, advanced alarm systems, and surveillance.

Safeboxes are not typically insured by the financial institution that provides them. Renters are responsible for obtaining their own insurance coverage for the items stored within their safebox. In the event of a loss due to events like fire, flood, or theft from the facility, the bank's liability is usually limited and defined by the rental agreement. Renters should carefully review these agreements and consider the need for separate insurance. Access to the safebox is usually granted during the operating hours of the facility, and renters may need to present identification to gain entry.