If a depositor belongs to a specific tier (which usually depends on the size of their deposit), they may get discounts or even a complimentary box altogether. Does Anyone Offer a Free Safe Deposit Box?Ĭertain depositors are eligible for a free safety deposit box. Related How to Store Large Amounts of Cash (With Locations to Avoid). I will answer that question in the next section. Now that you know how much safety deposit boxes cost, you may want to see whether it’s possible to get them for free.
*Based on average of varying annual cost data
As noted, the cost can vary depending on the branch, so the figures cited here won’t necessarily match your nearest bank’s fees to a T. For example, the Bank of America deposit annual box fee for a 3” x 5” (8 x 13 cm) in New York, NY, may not be the same as a box of a similar size in a BoA branch in Los Angeles, CA.īased on publicly available information, I have compiled the following data on average safety deposit box prices according to size and bank. Also, the cost of a safety deposit box of the same size and bank can differ depending on the branch. Safety deposit box prices vary depending on the size of the box and the bank. Final Thoughts How Much Does a Safety Deposit Box Cost?
