Unless you travel often enough to keep a passport next to your wallet, it may be tempting to put it in the bank vault. The FDIC does not protect cash, unless it’s in a bank account. Most banks are very clear: cash should not be kept in a safe deposit box. Here’s a look at what not to put in your safe deposit box:Ĭash money. Reduced operations and branch closures happened because of the pandemic and today’s hiring problems might mean a longer wait even during regular business hours at a bank branch. The same goes for natural disasters, which seem to be happening more frequently in certain parts of the country. If you need something in an emergency on a weekend, holiday or at night, you’re stuck. However, it’s not the right place for everything.Įven if the bank’s ATMs are open 24/7, access to the bank vault is limited to hours when the bank is open. Some documents also do belong in a bank vault. However, if you were thinking about getting rid of your safe deposit box, says the article “9 Things You’ll Regret Keeping in a Safe Deposit Box,” from Kiplinger, think again.īy all means keep your prized possessions like baseball cards in a safe deposit box.

We’re reminded daily about living in a digital world where anything of importance is stored in the cloud.

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