Safe deposit boxes are kept in a secure vault at a bank or credit union branch. Depending on the financial institution, they can be as small as 3 x 5 inches or as large as 10 x 15 inches. These boxes, which can be rented at either brick-and-mortar banks or credit unions, come in different sizes and are typically made of metal. What Is a Safe Deposit Box?Ī safe deposit box is a secure container that you can rent to store important items. Before signing up for a safe deposit box, it’s helpful to understand how they work, what they cost and when it makes sense to use one. Safe deposit boxes can be an alternative to keeping a safe at home, although they may not be right in every situation. When you’re looking for a place to store cash, important documents or other valuables, a safe deposit box is one option to consider.
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