How Safe Deposit Boxes Work: From Registration to Access

In the era of digital storage and online banking, the traditional safe deposit box may seem outdated, but they are still the most trustworthy method for keeping the valuables safe. It can store all sorts of valuables including important papers, family heirlooms, and precious items safely. Whether you are storing a will, rare coins, or deeds to property, understanding the ins and outs of how safe deposit boxes work is essential. So continue reading this blog to understand everything important about the safe deposit vaults. Here you will get to know everything- from how to register one to how to access it.

Why Use a Safe Deposit Box?

Safe deposit boxes are primarily used for the secure storage of the valuable contents. These boxes are especially great for safe-keeping of:

● Essential documents like birth certificates, marriage certificates, deeds and wills.

● Jewelry, family heirloom, and rare coins.

● USB drives and data backups count, and media that cannot be replaced.

Safe deposit boxes make sure to protect all these items against fire, theft and water damage, unlike home safes.

Here are the key steps of renting a safe deposit box at IBV international:

Step 1: Registration and Setup

Registering for a safe deposit box at IBV International Vaults generally includes:

1. Eligibility- To be eligible to rent a safe deposit box at IBV International, you must be over 18 years old. However, UK citizenship is not mandatory to sign up for a safe deposit box.

2. Identification- You must have a valid ID proof, such as a passport or driver’s license and a proof of address such as utility bill or bank statement (not older than 3 months).

3. Selecting a Box- Safe deposit boxes are available in various sizes, so can choose any depending on what you want to store.

4. Signing the Agreement- You’ll have to sign a rental contract stating the terms, charges, and obligations. The document will also allow you to specify co-renters or approved users.

5. Biometric Registration- In line with the security procedure, your fingerprint and iris scan will be taken securely and linked to your account. This verifies

that only you and any authorized individuals can access your safe deposit box via biometric identification.

Step 2: Accessing the Box

After registering the box, you’ll get two keys and a private access card. However, the access to safe deposit box generally includes:

1. Authentication – Each time you open your safe deposit box, there must be a multi-factor authentication procedure followed. This encompasses biometric checks and use of your own access card to confirm that only legitimate persons are given access.

2. Opening the Box – For your absolute peace of mind, the locking mechanism is replaced every time a new client is allocated a box—removing any possibility of prior access. Having been authenticated, you can open your box with the special key issued to you.

3. Private Viewing Room- Once the box is opened, you will be taken to a private viewing room where you can inspect or touch your contents privately. Our employees cannot observe or capture what you place into or remove from the box.

Key Points To Remember

Apart from the benefits, safe deposit box also has some limitations such as:

1. Limited Access: The access to safe deposit boxes at IBV International Vaults is limited. Once you store your contents in the, they will only be accessible during your bank/s business hours. However, there is no limit on the number of visits in an year.

2. Not Great For Emergencies: The safe deposit box doesn’t allow access after normal operating hours due to security procedures.

3. Not Suitable for All Items: Safe deposit boxes are not suitable for all items. So avoid storing items that might need frequent access or that could deteriorate.

Final Thoughts

Safe deposit boxes in London provide peace of mind as it provides a secure place to put your most treasured belongings and documents. It is one of the most reliable solutions for long-term safe storage. Knowing the process from the point of registration to access ensures that you can utilize it effectively and with ease.