How does a safe deposit box work?

Answer by  justmesuzanne (625)

Low annual fee-about $15. You have one key, the bank has the other. To put stuff in, you sign a card, you and the bank clerk each use your keys,you take your box into a little room & add/remove documents. You & the bank clerk lock it back up.

Answer by  jackie (276)

Yes, they're safe. They can only be opened with two keys, one kept by the bank, the other by you -- and you will need to present ID to use yours.

Answer by  BoeZoe (136)

Each box is one drawer of varying size within a bank's vault. When a safe deposit box key holder presents identification that is on the list of those approved to gain access, they sign a card & with a clerk & use keys to open & access the box contents.

Answer by  mangosteen (272)

Safe deposit boxes are safe. You can think of it as renting space in your bank's vault. You pay some monthly or annual fee to have access to a small box in their safe. They are a great way to store jewels, important documents and the like.

Answer by  Gfaaw (143)

You pay a yearly fee to a financial institution and in return they provide you with a box in a vault that can only be opened with 2 keys.

Answer by  soniya (22)

BOXES ARE RENTED OUT FROM THE BANKS,WHICH ARE VERY SAFE,CAN BE USED TO KEEP IMPORTANT DOCUMENTS ,JEWELLERY,ETC.THESE ARE MADE OF HEAVY METAL TO PREVENT CORROSION, ROBBERY.

Answer by  JennyBucks (63)

A safe deposit box is a service provided by financial institutions that store your precious or valuable items for a fee. The box is governed by a bank agreement.