Your bank’s local branch can help enhance your banking experience by offering in-person support and resources, such as safe deposit boxes: a small, lockable space you can rent to store personal and/or valuable items securely.

Let’s look at the benefits and considerations of a safety deposit box.

Benefits

Mainly, the safety deposit box puts valuable articles out of reach of water or fire damage and the threat of theft.

If misplacing or losing any of the articles below would present a significant problem, then consider keeping them in a safe deposit box.

  • Birth certificates and medical records
  • Military records or commendations
  • Personal assets such as stock certificates
  • Wills and other legal documents
  • Business contracts or financial records
  • Heirloom jewelry or collectibles

For documents, you can always make a copy of what would be important to keep on hand while placing the originals out of harm’s way!

Considerations

Keep in mind that safe deposit boxes are typically not a free service offered by your bank. The cost associated can vary based on the size of the box, the length of time you’ll need it, and the insurance you may wish to add to cover its contents.

On that note, remember that the contents of your safe deposit box are not FDIC-insured, so you are responsible for any and all insurance you wish to take out to protect your valuables further.

Also, get acquainted with the potential limitations you will have to adhere to once you open a safe deposit box with your bank. As with any other rental space (big or small!), you will have a rental agreement with terms and conditions, and assistance with or otherwise accessing your box is available only during the specific branch location’s banking hours.

Final notes

You trust your banking partner to help you manage and grow your money. Your bank can also be your partner in keeping your valuables safe.

Consider what needs you might have for one or more safety deposit boxes, whether for personal or business reasons. Then visit your local branch to see what type of safe deposit boxes they offer!

Many of our SouthEast Bank branches offer safe deposit boxes. Explore our branch list to see what offerings we have near you!

Your financial journey starts with SouthEast Bank.

Olivia Johnson is marketing strategist for Southeast Bank.

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