Bank vs Private Safe Deposit Centres

Date Posted: 30-11-2015

Safe deposit boxes in banks are few and far between…

Over the past decade, many banks have closed the doors of their safe deposit box facilities to new customers which created a gap in the market for the rise of private safe deposit centres.

While banks were phasing out their safe deposit box services, many former users where left worried about where they would store their valuables. Most didn’t feel confident that their homes were secure enough to store items of that value so they turned to private safe deposit centres. By private safe deposit centres, I am referring to the facilities housed inside highly secure vaults but owned by private companies not banks.

Unlike safe deposit facilities within banks, private safe deposit centres have seen an increase of centres opening across the country. With such a wealth of choice, it is vital that you do your research and find the most secure centre with payment plans to suit your needs.

Safe deposit boxes in banks are often more expensive…

Those safe deposit box services in banks that remain often charge significantly more to store your valuables in their vaults. The banks that ceased to offer safe deposit boxes often cited the expense to provide the service as one of their main reasons for closing. So, those that remain have to charge higher memberships and rental fees to cover their costs.

In contrast, the main business of Safe Deposit Centres comes from renting the boxes out which means that these privately owned businesses can spend more time and resources on these services.

Safe deposit centres are specifically built to house safe deposit vaults…

While banks are often designed around the handling of money and consultations with clients, private safe deposit centres are designed and built to house a secure vault which in turn is made to store lot of valuable items in a wide range of sizes. This also means that if you store your valuables in a private safe deposit centre, you won’t have to manoeuvre around crowds of people waiting to withdraw money, cash cheques and speak to their bank manager.

If you need a reliable replacement for your bank safe deposit box, or if you’re looking to start storing your valuables in a safe deposit box then look no further than The Safe Deposit Centre Manchester. We offer a wide range of payment plans for boxes from 43 x 320 x 490 (mm) to 293 x 320 x 490 (mm) and larger.

Signing up is easy and your valuables will be housed in the most secure facilities in the North West! 

Call us today on 0161 273 7487 or complete our online form above to reserve your box.

If you liked this article, why not read more?

Safe Deposit Boxes: The Top Five Myths Dispelled

A Beginner's Guide to Safe Deposit Boxes

What Do People Keep in a Safe Deposit Box?