Safe Talk

A safe deposit box (sometimes incorrectly called a safety deposit box) is a type of safe usually located in groups inside a bank vault or in the back of a bank or post office. They are also used in hospitality applications such as hotels/motels and grocery stores. In the typical arrangement, a renter pays the bank a fee for the use of the box, which can be opened only with production of the assigned key, the bank’s guard key, the proper signature, or perhaps a code of some sort. Safe deposit boxes are made to be highly “resistant” to fire, flood, heat, earthquakes, hurricanes, explosions or other disastrous conditions provided they are in a bank vault. There is no 100% guarantee against damage however, and substantial losses can sometimes occur. (more…)