A smart way of keeping some of your valuable assets is storing them in the safedeposit box of your bank.

Banks have safe deposit boxes, which they can lease out to customers annually.

These boxes at the custody of the banks are much safer than those an individual may keep at home, because thieves may be able to reach the owner or force him to open it for them.


Asides from protection from thieves, safedeposits will protect your valuables against fire outbreak, flood and other losses.

Safedeposit box is held in a bank vault and protected by security measures employed by the bank to safe-keep their customers’ monies.

The boxes usually have two keyholes: one for the customer, while the bank keeps the other.


Anybody cannot just have access to the boxes because the bank will always verify the rightful owner through the identification means, which he used to acquire the safe deposit.

Situations that can make your bank to stop your safedeposit accounts include lease payment default, court order and an incidence of unclaimed property where the bank is unable to reach the customer again.

This is why a customer should read the terms of the contract, while opening a safedeposit box.

While safedeposits boxes have their advantages, it may not be advisable for things such as your only personal Will to be kept in them, because it can be very difficult for your loved ones to gain access to it after one’s demise.

These are some of the things you can keep safely in your bank:

Valuable assets: A safedeposit box is an ideal place to store valuable assets such as your diamonds, gold and jewelleries. Although it may not be necessary, you may consider having insurance for the assets because banks do not usually have insurance for such valuables. Other precious items that you know may be destroyed in fire or other means can equally be kept for you by your bank.

Deeds and titles: There have been incidences where wayward children or some mischievous members of the family had access to landed properties and sold them illegally. Even though you may decide to go to court to challenge this action, it can be a long and very tedious process to prove ownership and recover the properties. The original documents of your houses and land are ideal things you can keep in your safedeposit in the bank, because you probably will not need them except you plan to sell off the assets.

Passports: Replacing a lost travel passport may not be as easy as acquiring a new one. That is a reason why you should keep it safe with your bank if you don’t use it very often.

Certificates: The originals of your personal documents such as birth certificates, marriage certificates and some others can be kept for you by your bank. Certificates of your investments in ventures such as stocks and bonds, among others, can also be stored by your bank. Although, most of these documents are now issued electronically.

Cash: Your bank still remains the safest place to keep your cash and deposits.

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