If you want to access your Safety Deposit Box (SDB), you’ll generally only need your access card, key and book an appointment. Private vaults often give their clients unlimited access to their boxes for the duration of their rental period. If you run into arrears or difficulties with the bank, there is a risk of restricted access to your safe deposit box. On the other hand, banks keep private information on all their customers and they will have knowledge that you have a safe deposit box with them. Some private firms even have policies that prevent them from revealing information about their clients unless a government issued search warrant is presented. Most of the time, only you will have knowledge of the existence of your safe deposit locker. This means that private operators of these vaults do not have access to any other private and financial information.
Private vaults often require only a photo ID and a proof of address should you decide to rent a box with them. Meanwhile, banks often only offer just two box sizes and the price range is not as extensive.
They also have options that can suit all budgets and sized objects. Most private vaults have a wider range of safe deposit box sizes and choices ranging from small to medium to large to very large.
