Metro Bank is one of the only banks to provide these deposit boxes, which it says customers made clear they wanted. The banks still offering security lockers The contents also need to be covered in the customer’s home insurance policy. Customers are then given a set of keys, or sometimes a swipe card, and can access the contents of their box when they want (during working hours).Īlthough anything can be held in the box, customers will need to sign a document stating it doesn’t contain anything illegal, such as drugs, guns or laundered money. It’s a much safer way to store expensive items as the boxes, or lockers, are kept in the bank under CCTV and behind a thick metal door. Often they are used to store collections of jewellery which are handed down through families, particularly in Asian communities. Safe deposit boxes can be used for anything valuable, such as artwork, legal documents or jewellery and are stored in a bank branch. At Santander and Nationwide this has never been an option. The Co-op has also stopped this service while HSBC says it only has around seven branches (out of 1,189) which offer the lockers. Other banks, such as Lloyds and NatWest/RBS, were slightly less abrupt and just shut the scheme down to new customers. The bank blamed storage issues for the decision and said the scheme had become complex and costly. Barclays has written to customers and given them six months to clear out the boxes. Safe deposit boxes can be used to store expensive items and until recently most banks provided them to current account holders for a yearly fee.īut because of cost-cutting measures they are now being phased out by many.īarclays, for example, has started withdrawing the boxes from branches and they’ll all be gone by the end of the year.

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Several high street banks have stopped providing safe deposit boxes, potentially putting valuable and expensive items at risk.Ĭustomers who rely on these boxes to keep treasured pieces safe are now left with few options to make sure these items are protected.

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