26 Apr 2018

A question about : Which bank still provides safety deposit boxes?

Hi,

We would like to store our gold jewellery in a bank.

I contacted RBS and Barclays about their Safety Deposit Box facilities, but it seems they no longer provide this facility.

Anyone know which banks still provide this facility?

Thanks

Best answers:

  • as far as I know, certain HSBC branches do (or at least, they did a year ago when I last enquired)
  • Thanks, I'll call them and ask.
  • I went into NatWest today and they no longer have them except if your income if over Ј100,000 a year. This now means I have no where to place important documents. They suggested I googled safety deposit box to see who else does it. Apparently they also think that Lloyds do not either or are thinking of not doing them any more.
  • There are plenty of places that offer document storage if that's all you need, eg.
    Many solicitors use off-site document storage for archive files. If you need your document you give them the barcode number and the box is delivered to you next day by courier.
    If you need safety deposit boxes for jewellery etc they still exist, but usually only in major cities eg eg
  • Just buy a big/decent safe...
  • If you live anywhere near London, then Metrobank offer Safety Deposit boxes of varying sizes. Not sure of cost as didn't take any notice when I opened my account as haven't not a need for one.
    Denise
  • I keep my House Deeds, and share certs etc in a brown envelope at LTSB.
    Costs me 15 quid a year.
  • A topic in today's BBC Radio 4 Moneybox programme. (Starts 15 minutes in).
    https://www.bbc.co.uk/iplayer/console/b01dc57k
    My attempt at a summary:
    Of the major banks some no longer offer the service, some are withdrawing the service and the others don't have spare capacity.
    Lloyd's is going to offer the service but from a vault in Scotland. Not convenient, and risky, if boxes are having to be shipped across the country if access is required.
    There are private companies providing the service but they are expensive and (although they have to register with the FSA for anti-money laundering) there is no regulation for customer benefit and no recourse to the Banking Ombudsman in the event of a dispute.
    (As has been pointed out above) Metro Bank does provide this service for its customers but at present only has a few branches in the South East.
    I did briefly consider arranging for a bank box for myself but it seems that, even in a bank vault, boxes are not all that safe and still need to be insured.
    e.g. https://forums.moneysavingexpert.com/....php?t=3842179
Please Login or Register to reply to this topic