Safe deposit boxes are a secure way to store your belongings, but they aren’t immune to major natural disasters, such as a massive flood, experts say. You’ll only be able to access your safe deposit box during bank hours. Oftentimes, the banker also has a key that is used simultaneously with yours. To open the box, you typically need a key. Costumers typically rent, and prices vary according to the bank and box size. The boxes can range in size from 2 inches by 5 inches to 10 inches by 15 inches or even larger. What’s a safe deposit box?Ī safe deposit box is a small, secure container that’s housed at a bank. But many consumers are responsible for certain financial papers that are difficult or expensive to replace, so having them stored somewhere safe is smart, experts say.Ĭonsidering opening a safe deposit box? Here’s what to know. In the age of cloud storage and digital record-keeping, a safe deposit box may seem like a relic from another era. “The main purpose of safe deposit box is to store confidential or valuable materials or documents that may be needed after your passing or that you want to keep secure and safe,” says Dawn Fabian, senior vice president and retail transformation manager at PNC. Consumers lease them to store valuable objects or important paperwork.

Business & Finance Click to expand menu.Ī safe deposit box is typically a well-secured storage box housed at your banking institution.

Pnc bank safe deposit box prices