No, it’s basically a storage fee for your deposits at the bank. Say you have a $10,000 savings account. They might charge you $10 a month.
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Safe deposit boxes are less than half that much and you can store a lot more than $10K in one.
You have to buy your own insurance.
Read the fine print, they can seize items in those safety deposit boxes. They seized gold in 1933 from safety deposit boxes. And storing lots of cash in the is usually a no-no.
If they are nutty enough to do this watch for bank runs. The feds and banks will essentially ban people from taking their own money out of the banks at some point and the war on cash will get worse.
If this happens the home safe business will boom and home invasions and break-ins will skyrocket. Also the number of criminals shot dead B&E will increase.