Most large banks and credit unions offer safety deposit boxes, but availability and pricing vary widely by location and institution
Safety deposit boxes are available at most national banks, regional banks, and credit unions, though not every branch carries them. Wells Fargo, Bank of America, Chase, Citibank, and US Bank all offer boxes at many locations. Credit unions often have them too, though smaller ones may not. The box itself is a locked compartment inside a bank vault that you access during business hours—the bank holds the key to the outer lock, you hold the key to your box.
Availability depends on the specific branch, not just the bank name. A Chase branch in a small town may not have boxes, while a Chase in a city does. Before you assume a bank near you has them, call the branch directly or check their website. Some banks have moved away from offering boxes because fewer customers want them, so even if a bank offers them elsewhere, your local branch might not.
What you pay varies by box size and location. A small box typically costs $25 to $75 per year; a large one runs $75 to $200 or more. Some banks waive the fee if you maintain a certain account balance or have a premium checking account. A few banks have stopped offering boxes altogether in recent years, so if you already rent one, confirm your bank still plans to renew it.
Key Takeaways
- National banks like Wells Fargo, Bank of America, and Chase offer safety deposit boxes at many branches, but not all locations have them.
- You need to call your specific branch to confirm they have boxes available, because availability is not may provide even at large banks.
- Annual rental fees range from $25 to $200 depending on box size and location, and some banks waive fees for customers with premium accounts.
- Credit unions often offer boxes, but smaller credit unions may not, so ask your institution directly.
- Some banks have discontinued safety deposit box services, so if you already rent one, verify your bank will continue offering it.
How to learn about your bank has boxes
Start by calling the branch where you have your account. Ask whether they offer safety deposit boxes, what sizes are available, and whether any are currently open for rent. Some branches have a waiting list if all boxes are rented. If your branch does not have them, ask whether another branch nearby does—you may be able to rent from a different location.
Check the bank's website for a safety deposit box page or search for "safety deposit boxes" plus your bank name. Many banks list box sizes, prices, and availability online. If the website does not mention them, that often means the bank has stopped offering them or they are not widely available.
If your bank does not offer boxes, ask about alternatives. Some banks partner with third-party vault services, though these are less common than they used to be. Independent safe deposit box companies exist in some cities, though they typically charge more than banks do.
What you can and cannot store in a box
Banks allow you to store documents, jewelry, coins, photographs, and other valuables. Common items include wills, property deeds, birth certificates, insurance policies, stock certificates, and heirlooms. You can store cash, though large amounts may trigger reporting requirements.
Banks prohibit certain items: anything illegal, firearms (in most states), hazardous materials, and items that could damage the box or other contents. Do not store anything perishable or anything that requires climate control beyond what the vault provides. Some banks prohibit original documents related to your account with them, since they already hold copies.
Your bank's rental agreement will list what is forbidden. Read it before you sign. If you store something prohibited and it causes damage, the bank may not cover the loss.
Access and hours for your box
You can access your box during the bank's business hours, which are typically 9 a.m. to 5 p.m. on weekdays and sometimes Saturday mornings. You cannot access it after hours or on weekends unless the bank offers extended vault access, which is rare. If you need something from your box on a Sunday, you will have to wait until Monday.
When you visit, you sign in at the vault desk. A bank employee will retrieve your box and escort you to a private room where you can open it. The process usually takes 10 to 15 minutes total. Some banks require an appointment if you are visiting outside regular hours, though most do not.
If you die, your heirs will need a court order or the will itself to access your box. The bank will not open it without legal authority. This is why some people keep a copy of their will outside the box—so heirs can find it and use it to access the box.
Cost comparison across bank types
| Bank Type | Typical Small Box Cost | Typical Large Box Cost | Fee Waivers |
|---|---|---|---|
| National banks (Wells Fargo, Chase, Bank of America) | $30–$75/year | $100–$200/year | Sometimes waived with premium account |
| Regional banks | $25–$60/year | $75–$150/year | Varies by bank |
| Credit unions | $20–$50/year | $60–$120/year | Often waived for members |
| Independent vault companies | $50–$150/year | $150–$400/year | Rarely waived |
Prices vary by location and by how much vault space the bank has. Urban branches tend to charge more than rural ones. If your bank offers a fee waiver, calculate whether maintaining the required account balance costs you more than the box rental would.
What happens if you stop paying or abandon your box
If you do not pay the annual rental fee, the bank will send you a notice. Most banks give you 30 to 60 days to pay before they drill the box open and inventory the contents. The bank will then hold your items for a set period—usually three to seven years—before turning them over to the state as unclaimed property.
If you abandon the box (do not access it for several years and do not respond to notices), the bank will follow the same process. Your items will eventually be reported to your state's unclaimed property program. You can then file a claim with the state to recover them, though the process takes time.
To avoid this, pay your bill on time and keep your contact information current with the bank. If you want to close your box, give the bank notice, retrieve your contents, and return the key.
Alternatives if your bank does not have boxes
If your bank stopped offering boxes or never had them, you have a few options. Other banks in your area may have them—call around to regional banks and credit unions. Some credit unions have lower fees than national banks and may have availability.
Private vault companies operate in some cities and offer safety deposit boxes similar to banks, though usually at higher cost. Search for "private safe deposit boxes" or "private vault" plus your city name to see what exists near you.
Home safes are an alternative for smaller valuables, though they do not offer the same fire and theft protection as a bank vault. A home safe is easier to access but less secure. For documents you need to keep but rarely access, a fireproof home safe may be enough.
Frequently Asked Questions
Can I access my safety deposit box if the bank is closed?
No. You can only access your box during the bank's regular business hours when vault staff are present. If you need something from your box on a weekend or holiday, you will have to wait until the bank reopens. Some banks offer after-hours appointments, but this is uncommon and may require advance notice.
What happens to my box if I move to another state?
You can keep your box at your current bank even if you move, though you will only be able to access it when you visit that branch. If you want a box closer to your new home, you will need to rent one from a bank in your new state and transfer your items. Close your old box once you have moved everything.
Do I need to be a customer of the bank to rent a safety deposit box?
Most banks require you to have an account with them to rent a box, though the account does not need to be a checking account—a savings account usually works. A few banks may rent boxes to non-customers, but this is rare. Ask your bank about their policy.
Is my safety deposit box insured?
No. Banks do not insure the contents of safety deposit boxes. The bank is responsible for the security of the box itself, but if items are stolen or damaged, you bear the loss. You may be able to cover the contents with a homeowners or renters insurance rider, so check with your insurance company.
Can someone else access my box if I give them permission?
Yes, but only if you add them as an authorized user on the box rental agreement. You cannot simply hand someone your key—the bank keeps records of who is authorized to access each box. If you want a family member or attorney to access your box, tell the bank and update the agreement.