Types of Bank Safe deposit Boxes
Banks offer a variety of security features, safe-deposit box sizes and pricing structures. In general, safe-deposit boxes are stored in the vault in the bank--a room usually reinforced with steel. The safe-deposit boxes themselves are usually made of a type of reinforced metal, as well, and vary in size. The smallest safe-deposit boxes are usually 2" x 5" x 12", with the largest boxes having dimensions around 15" x 22" x 22". Some banks also provide digital safe-deposit boxes used for storing sensitive data files, such as confidential business records. In addition to comparing signatures to those on file for authorized renters and requiring a key from the renters, banks may have additional types of security for accessing safe-deposit boxes. These can include pass codes and fingerprint or biometric technology.
The primary benefits of safe-deposit boxes are the protection of stored items and the access limitations the renter and bank agree to set. To gain access to a safe-deposit box, a person must first sign admission documentation. The banker compares the signature to those of the people it has on file as renters of the safe-deposit box and requires the renter to have a key. Depending on the bank's policies, a banker may accompany the individual into the safe-deposit vault.
Not all documents and valuables are ideal for placement in a safe-deposit box. Before deciding to store an item in a safe-deposit box, potential renters should consider whether the item will be necessary during an emergency situation, and, therefore, should be stored somewhere more accessible. For example, passports are best stored elsewhere in case an emergency trip must be taken and original living wills should be easily accessible in case of a late-night medical catastrophe.
Some renters mistakenly believe that because their valuables are stored in a bank, the items are under FDIC protection up to $100,000, like bank accounts. This is incorrect. Renters must purchase separate insurance to insure their stored items. Before signing a lease agreement for a safe-deposit box, renters should always read the terms and conditions of the lease agreement.
Clients, both businesses and individuals, can be assured that documents, assets, and objects of value are in a safe and secure environment. Items are protected in a state-of-the-art facility featuring modern security systems with 24-hour monitoring under strict quality control guidelines.
Safety deposit boxes in various sizes are solid metal drawers utilizing security keys installed inside a maximum security vault controlled with 24- hours per day high-tech security monitoring systems. These boxes can only be opened by the owners or authorized users.
Security and privacy is guaranteed with no limits on visits and private viewing rooms are available inside our highly guarded facility.
Fees You pay a price according to the size of box you want. Most boxes have draws which you can remove and simply slide your stuff in and out off giving you more room. I think the standard fee in Zuger Bank (Zug) is 70 CHF a year. All of the big banks, UBS, Credit Suisse, Zurich Cantonal Bank will have safe deposit rooms of boxes. You do yourself no favors by using a company that is not protected by banking secrecy laws.
Requrirements You will need formal identification with photos, and you will need it each time you want to access your box. Take care to read the small print, Zug Kantonal Bank do not charge for access; but others may...