Although safe deposit boxes are not foolproof, bank customers have been storing valuable items in them for more than 100 years for good reasons, said a consumer education specialist with New Mexico State University. A small rental fee is charged for safe deposit boxes.
Customers have access during designated hours each day the bank is open.
Security is provided through a two-key system. The bank holds a key, and the customer has the second key. Both are required to open the box. Common items include property records, insurance policies, stock or bond certificates and personal documents, such as birth certificates, marriage licenses, adoption papers, business contracts, trust agreements and an inventory of household valuables. People who put copies of their wills in safe deposit boxes also should give a copy to a their lawyer, a family member or trusted friend.