Safety Deposit Box

Wells fargo s safe deposit box contract caps the bank s liability at 500.

Safety deposit box. A safe deposit box is a secure container usually made of metal that s used to store valuables at a bank or credit union. But remember that safe deposit boxes aren t federally insured so the same rules about storing other valuables apply in other words you may need extra insurance. These boxes involve two sets of keys. Citigroup limits it to 500 times the box s annual rent while jpmorgan chase has a 25 000 ceiling on its liability.

Both keys are required to open the safe deposit box which provides an additional layer of security. Greg daugherty is a longtime personal finance writer and a former senior editor of money magazine. While certain items should be stored in a safe deposit box others are best. Keeping a stash of cash in a safe deposit box isn t a good idea for several reasons warn experts.

8 p m all times et. First if you need the money in an emergency but the bank is closed you re out of luck. Schedule an appointment with an associate at your local financial center for a day and time that work best for you or call us at 800 432 1000 mon fri 8 a m 11 p m. Cell phone roaming charges may apply.

Call 1 315 724 4022 international collect. A safe deposit box is a better place for it than a dresser drawer.