What Are Safe Deposit Boxes Used for?

A safe deposit box is a secure container usually made of metal that's used to store valuables at a bank or credit union. These boxes are often kept in vaults and can be rented throughout the lifetime of a customer for an annual fee.

Is it safe to put money in a safe deposit box?

Theoretically, contents in a safety deposit box are safe from being stolen and safe from the wear and tear that comes from keeping valuables out in the open. ... (FDIC) does not insure the contents of a safety deposit box. The FDIC only insures the money found within accounts at FDIC-insured banks, like HRCCU.

What items should not be stored in a safe deposit box?