![]() While many people like the idea of stashing important documents in a secure vault, banks in general don't emphasize safety deposit box services in their business models. The primary issues with safety deposit boxes are low availability, difficulty of access and lack of FDIC insurance. Issues to Consider Before Getting a Safety Deposit Box If you forget about the charge, you may end up unprepared for the withdrawal and run into overdraft fees twelve months later. While this may save you both time and money, it's important to save the date when you first rent the box. Having an account at the same bank with your safety deposit box also saves you money on the invoicing fee, a common annual charge on box rentals.īanks often waive this fee if you pay for your safety deposit box through automatic debits from your checking account.Īt a few places, you receive discounts of $10 or 10% off the total cost if you opt to set up automatic payments. To make sure you receive the appropriate price, you may need to print out the terms of the deal when you visit the bank.Ī deposit account agreement or schedule of fees from your bank's website will often include the relevant information. Therefore, WCCU offers members safe deposit boxes of various sizes for minimal annual cost. Items like personal documents, records, and valuables need to be protected from fire, theft, and other types of loss. For a rundown on how to make deposits through the Northeast Credit Union app, check out the video here. Safe Deposit Box Keep your valuables safe at WCCU Sensitive belongings deserve extra protection. See the Mobile Deposit in Action It’s fast, simple, and secure and will save you a trip to the branch. ![]() Secure Your personal info is protected on our secure app. ![]() For instance, Regions Bank will provide 50% off the annual box fee for people who have active LifeGreen Checking Accounts, while US Bank does the same for Platinum Checking account-holders. Easy Just snap a picture and send it our way for deposit. People who already have active checking or savings accounts often get significant discounts on safety deposit boxes at their banks. Getting Discounts on Safety Deposit Boxes This isn't nearly as secure as standard safety deposit boxes, which require a banker's key and sit behind the bank's strongest security measures. Some of PNC's branches, for instance, have "express" boxes located outside the bank's vault, so that customers can walk in and access them immediately and on their own. And finally, not every location will have the same safety deposit box services available. Safe deposit boxes are used to keep valuables, important documents, and sentimental keepsakes protected. Each of the other banks noted that prices are determined on a local basis by individual branches. A safe deposit box (or safety deposit box) is an individually secured containerusually a metal boxthat stays in the safe or vault of a federally insured bank or credit union. Of the banks we surveyed, only Chase and Regions confirmed that their prices for safety deposit boxes were the same at all branches.
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