Compare
A Bank Box vs. a Private Vault
Many clients arrive because their branch is closing or their bank is leaving the safe deposit business. Before you move, it is worth knowing what you actually had.
Tell us what, from where, and roughly when. No obligation, and no inventory list needed to start the conversation.
Side by side
| Category | Us | Leaving It in a Bank Box |
|---|---|---|
| Contents insurance | Available separately through Lloyd's of London | None. Box contents are not FDIC insured |
| Access hours | By appointment, including arranged out-of-hours | Branch hours only |
| Box sizes available | Eight sizes, up to 30×15×24 | Whatever that branch still has |
| Convenience of an existing account | A new arrangement to set up | Already there. The bank wins here |
| Cost | From $795 a year | Often cheaper, where still offered. The bank wins here |
| Branch closures | One facility, operating since 1983 | The reason most clients call us |
| Structure | 9R-rated vault, two 14,000-lb doors, above the flood plain | Varies enormously by branch and by decade |
| Response to legal process | Honoured. Same as a bank | Honoured |
Every row marked “wins here” is a real advantage of the alternative. A table that gives the other side nothing is not a comparison, and anyone reading carefully will notice.
Our view
The honest verdict
If your branch is nearby, the box is the size you need, and the bank shows no sign of exiting the business, staying put is reasonable and cheaper. What people usually miss is that bank box contents have never been FDIC insured, and most homeowner policies cap off-premises jewellery coverage at a level well below what is in the box. That gap exists either way — it is worth closing wherever you keep it.
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Tell us what needs to move.
What, from where, and roughly when. You do not need an inventory to start the conversation, and if the job belongs with an armored carrier we will say so on the call.