The Federal Deposit Insurance Corporation (FDIC) protects only money in bank accounts and does not insure the contents of your safe deposit box. Are safe deposit box contents insured by the FDIC or the bank presiding over the bank or vault which houses the safe deposit box? It is recommended that those interested in setting up a safe deposit box speak with bank staff to help determine which access privileges best suit their needs. There are various options and rationales for various safe deposit access rights and are generally dictated by an individual’s present and future needs. Who should have access to my safe deposit box? As long as safe deposit box leasing fees are paid by the individual, they can trust that their items will be undisturbed and kept secure by the bank. Safe deposit boxes are a long-term storage solution ideal for small valuable belongings that are not needed on a regular basis. The appeal of a safe deposit box is often its security, safety, and privacy for extended periods of time. Due to their small size, safe deposit boxes are ideal for storing hard to replace documents such as birth certificates, marriage licenses, military documents, contracts, deeds and wills, as well as more precious, valuable or irreplaceable items such as gemstones and heirloom jewelry.
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