Yes, bank lockers, also known as safe deposit boxes, are secured.
Understanding Bank Locker Security
Bank lockers are designed to provide a secure place to store valuables. Here's what makes them secure:
- Physical Security:
- Strong Construction: As referenced, a safe deposit box is an individually secured container—usually a metal box located within the bank's vault.
- Bank Vaults: These metal boxes are kept inside the bank's vault which is built with thick walls and doors resistant to breaking.
- Controlled Access: Access to the vault is restricted to authorized personnel, with multiple levels of security including biometric authentication, security guards, and key systems.
- Dual Control: Banks often require two keys to open a safe deposit box: the bank's master key and the renter's key.
- Private and Secure:
- Individual Boxes: Each customer rents an individual box for which they hold the key, and the bank does not have access without the customer.
- Privacy: Banks do not typically know the contents of your locker ensuring the privacy of your belongings.
How Bank Lockers Work
Here’s a breakdown of how bank lockers generally operate:
- Renting a Locker: Customers can rent a safe deposit box of varying sizes by agreeing to terms and conditions and paying a rental fee.
- Key System: You are issued a key (or sometimes two) to your locker and bank holds its key. Both keys must be used to open the box.
- Access: During banking hours, you must present your key and identification to access your box. The bank employee opens your box, and you are taken into a private room to access the contents of your box.
- Responsibility: You are responsible for your key. Loss of the key may result in a fee to have your locker drilled open.
What to Store in a Bank Locker
Safe deposit boxes are designed to keep valuables and important documents safe. They are ideal for storing:
- Original copies of important documents: birth certificates, marriage certificates, and passports.
- Valuable jewelry and family heirlooms.
- Important financial documents such as stock certificates, bonds, and rare currency.
- Hard drives containing important or sensitive information.
Important Considerations:
- Insurance: Your bank does not insure the contents of your safe deposit box so you may want to insure items you keep in the safe deposit box.
- Accessibility: Safe deposit boxes are not accessible 24/7. You can access your box during the bank’s operating hours.
- No Cash: Although you can keep cash in a safe deposit box, it is not recommended, because cash kept in a safe deposit box is not insured by the bank or the FDIC.
In summary, bank lockers provide an individually secured space for your valuables, utilizing strong physical security and controlled access measures.
