It seems that the use of safe deposit boxes is becoming more rare. With more people owning safes that they keep in their home, the need to rent out a deposit box from a bank is not as common.
"Federal regulators and industry groups said they don’t have statistics on the use or availability of safe deposit boxes, but some banks and financial advisers said demand has been slack." Source: www.nytimes.com
It is however pretty obvious that most bank safety deposit box customers are probably not millennials or the generations that follow them, based on the reality that online banking has become the overwhelming norm and young adults are just not inside the bank enough to know safety deposit boxes are an option.
Ask a few of the young adults in your life "Do you have a bank safety deposit box?" and you will probably come to the same conclusion.
The older generations who still use their bank safety deposit boxes have rented their safe deposit boxes for decades and still enjoy the comfort of visiting the bank several times a month to look in on their family property deeds, birth certificates, and jewelry. They like the feeling of knowing they are an important customer, as they are escorted to a private room to view their boxes’ contents. The younger generations are opting to keep their family heirlooms and important documents closer to home.
Many people store their valuables in a small gun safe or fireproof safe along with their firearms. They like the convenience of having quick access to their passports or jewelry at home. They make less frequent trips to an actual bank branch because so many transactions are now done online. But when traveling, there are still several reasons why a safety deposit box is not an outdated idea.
Safe deposit boxes are still important for hotel and resort guests
Some hotels and resorts don’t offer safe deposit boxes behind the front desk anymore because they have in-room safes for their guests. But some guests prefer to store their valuables, such as jewelry, wallets, or passports in a deposit box that is in a secure area. There are plenty of stories on the Internet about in-room hotel safes not being a reliable way to secure personal items of value.
There are claims that the safes can be easily broken into. Or that the hotel staff must have a back-up key in case the guest loses their copy, making it too risky to leave items in it. These claims may or may not be true, but reputable hotel chains would be quick to investigate any type of theft and take measure to make sure it’s not a recurring event.
Whether these tales about in-room safes are far-fetched or not, many guests feel more secure using a safe deposit box that is in a secure area behind the front desk. The guest can stop by the front desk on the way out to the beach or on their way to a sight-seeing excursion and drop off valuables that they don’t need for the day. These areas can also be further secured by the use of cameras or surveyed by onsite security guards, giving guests more peace of mind.
Safety deposit boxes can be purchased online at retailers, such as the Safe and Vault Store. We are experts in the field of vault doors, safe deposit boxes, depository safes, and custom safes. We offer a selection of modular safe deposit boxes that can be stacked in sections and bolted together through pre-drilled holes in the frame. The safe deposit boxes are made of rugged stainless steel, steel, and aluminum construction. They feature a double-nose key changeable lock and are available in a variety of sizes.
If your hotel or resort is in need of safe deposit boxes, don't hesitate to give one of our experts a call at 800-207-2259! We can help you piece together the perfect solution for your guests.