Bank cells for storage. What are the advantages?
A bank box is a compact metal safe, usually in the size of ordinary office paper. Such boxes are stored in a specially designated storage room, there may be quite a lot of them.
The Civil Code offers two options for cell rental agreements:
- to save valuable items.In this case, the valuables are transferred to the bank employee, who puts them in the safe, knowing about the contents;
- the safe deposit box in the bank is rented, but only the owner knows about its contents.This is the most popular contract.
By renting a place in the bank, the client can use the safe deposit box at their own discretion, located in the building of the banking organization. In this safe, you can leave money, currency, confidential papers, jewelry, in general, everything that you hold dear. Such storage can be rented on a permanent basis or only for a certain period of time, for example, when you go on vacation.
As a rule, the bank offers a safe deposit box of standard shape and size, if necessary, a larger cell can be provided.
The main advantage of a safe deposit box in a bank is that it is the property of the client, not the banking organization. If, for example, a bank goes bankrupt or loses its license, the owner of the safe deposit box will easily receive all of its property, and not a certain part of it, as in the case of deposits. Even if the bank’s license is revoked, it continues to exist in the status of a legal entity, that is, it must fulfill its obligations under the contract for renting a bank cell with two keys.
But it should be borne in mind that keeping money in a safe deposit box will not bring income, unlike a deposit account. Therefore, a bank safe should not be chosen as a long-term storage facility.
The main risk is that the banking organization does not bear any responsibility for your property, for example, in the event of a fire, flood, earthquake, etc. The contract may also specify that the safe is subject to opening by a court order or in the event that the tenant stops making monthly payments.
Bank deposit box guarantees
The main advantage for the client is a guarantee of security. Such safes are located in the bank building in a special room with an armored door, a high-quality alarm system is installed. When a bank has responsible employees, it is unlikely that something will happen to your property. In fact, bank robberies are quite rare.
Before signing the contract, you should still find out the security conditions in several banks for comparison.
Probably, every client is concerned about the question: what will happen if their property is stolen. Under the terms of a normal rental agreement for a bank cell, only the owner knows about its contents, so in the event of a robbery, the client will have to prove what was stored in the safe.
Each tenant has the opportunity to insure themselves in the event of a robbery and draw up a safe deposit agreement with the bank, which provides for a complete inventory of the contents of the safe. In case of loss of property, the damage will be compensated to its owner. This option is not provided by all banking organizations, many offer only storage of funds under this agreement, and rent in this case will be more expensive. In addition, you won’t be able to keep the contents of the cell secret. You will have to transfer your property to a bank employee strictly according to the inventory.
In this case, it will also be necessary to determine the cost of the contents of the safe. For this purpose, a specialized appraiser is hired, whose services are paid at a separate rate.
How do I rent a safe deposit box?
To get a safe deposit box for rent at the bank, you will need to draw up and sign a contract. In the case of storing money in a safe deposit box for transfer during the sale or purchase of an apartment, the agreement will be three-sided. The signatories in this case are the buyer, seller, and bank employee.
After signing the contract, the client receives keys from the safe deposit box, and in many banks, a special pass card is also issued to the client, which gives the right to use the vault.
The amount of rent will depend on the period of use of the safe, the longer it is, the more profitable the price will be in terms of one day of using the safe. How much a safe deposit box costs depends on the bank itself and the city in which it is located. As a rule, the price starts from $ 10 for a regular cell, in small towns the cost of renting is not high. Regular customers are offered discounts.
In some banking organizations, there may be a deposit fee for the key, which will be returned to the client when he releases the bank safe.
Employees of the financial structure will explain how a safe deposit box works. A standard safe has two keys, one remains in the bank, the second is issued to the owner of the cell after signing the rental documents. When you want to use your safe, the bank employee will open it with his key and leave the room, he should not know about the contents of your vault.
If the landlord sets a rule that only the owner of the safe deposit box is allowed in the vault, you will not be able to take someone with you in order to prove if necessary that there was money in the safe deposit box or jewelry.
An employee of the banking organization will also be present at the conclusion of the contract of responsible storage in the premises with the owner of the cell.
After you use the safe, you need to close it with your own key. The bank employee will also close the safe deposit box with their own key.
The rental period can be any, even for one or two days. There are no maximum restrictions. In the contract, you can specify that after the end of the lease period, it is extended.
If the agreement does not specify its extension, then after the expiration of its validity period, the bank has the right to open the safe after a certain period of time. To avoid such situations, you need to carefully read the contract, it indicates the lease term and the availability of its automatic renewal function.
When the bank opens your safe, they will definitely make an inventory of its contents and draw up a corresponding report in the presence of the commission. All the contents after the inventory will be placed in a bag, which will be sealed and sent to storage. When a client arrives, they will be able to collect their property after writing an appropriate application and paying a fine.
If the owner of the safe deposit box passes away after 6 months, relatives can receive their inheritance through a notary. Most notaries send letters to various banks to clarify whether their services were used by the deceased. The owner of the safe deposit box can also make a will in advance for their relatives, close friends, etc.
After the bank confirms the existence of the cell at the request of the notary, the cell will be opened in front of relatives, employees of the bank and the notary himself. In this case, an inventory of the contents is necessarily carried out, only after that things or valuables are given to the heirs.