Though banks do not know the contents of your safety deposit box, there are regulations as to what you can store.
Do banks know what you put in a safety deposit box?.And the stairs down to the vault where the safe-deposit boxes were located were both inviting and a little intimidating. Another consideration is that cash in an insurance-earning deposit account will grow, while cash in a safety deposit box will only lose value over time due to inflation. Plainfields United National Bank was the bank of choice for most who banked in Plainfield when I first moved here in 1983.It is safer to put your cash in a deposit account. Though you are technically allowed to keep cash in a safe deposit box, banks highly advise against it, as the cash inside would not be insured.Is it okay to keep cash in a safe deposit box?.Keeping your valuables in a safe deposit box protects them from potential theft or damage. Yes, safe deposit boxes are an excellent way to protect your irreplaceable or important items or documents safely and securely.Here are the answers to some common questions about safety deposit boxes.
