Safe Deposit Boxes at SBIC Bank

A safe deposit box is a private storage unit located inside a bank or financial institution, designed to keep your valuable items, documents, and personal belongings safe. It offers protection against theft, providing peace of mind for individuals who require high-level storage for items such as jewelry, legal documents, heirlooms, or sensitive business materials. The box is locked and only accessible by the account holder(s) and any authorized individuals, using the provided keys and a combination of bank procedures.

To rent a safe deposit box at SBIC Bank, simply visit your nearest branch with valid photo identification (such as a state-issued ID or passport), proof of address (such as a utility bill), and your Social Security Number (SSN) or Tax Identification Number (TIN). Once you have completed the initial documentation, a bank representative will help you select the box size based on your needs and finalize the rental process. You will then sign a rental agreement and receive a set of two keys for accessing your safe deposit box.

Access to a safe  deposit box is restricted to the account holder(s) and any authorized individuals. If you wish to grant access to others, designate those individuals as additional authorized users during the initial rental process, or by updating the account after rental. Authorized users can access your box with a valid key and identification. All parties involved must comply with the bank’s safety and security policies and procedures.

While SBIC Bank provides a safe environment for your valuable belongings, the contents of your safe deposit boxes are not insured by the FDIC or by the bank. You may want to look into obtaining personal property insurance for the items you store in the safe deposit boxes. 

If you lose the keys to your safe deposit box, promptly notify SBIC Bank. The bank will assist in replacing the lock and will issue you a new set of keys. There is a replacement fee for lost keys, as well as an additional cost for the lock replacement.  The process of lock replacement can take a few business days. 

No, SBIC Bank will not open your safe deposit box without your permission, except under certain circumstances, such as:

• Legal intervention, such as a court order.
• Overdue payments on your rental fees.
• Emergencies, including situations that may endanger your safety or the safety of others, or where legal actions require it.

If access needs to be granted under any of these conditions, the bank will follow established protocols, and you will be notified as soon as possible.

While you can store most personal and valuable items in your safe deposit box, avoid storing cash, weapons, or illegal items as these are prohibited. 

There are specific items that should not be stored in a safe deposit box due to safety, legal, and bank policy concerns, including:

• Weapons, firearms, or ammunition.
• Illegal items, such as counterfeit goods, controlled substances, or any materials prohibited by law.
• Perishable goods, such as food or plants, which may decompose or deteriorate over time.
• Items that violate bank policy or local regulations.

These restrictions help ensure the security and legality of what is stored in the box and avoid any potential hazards.

Although no system can promise total protection, our vaults are built to withstand severe conditions, providing extra peace of mind during natural disasters. We’ve designed our facilities to keep your belongings secure, even in the face of emergencies.

This can be done during the initial rental process or by updating the information later in person at a branch. Additional Renters can be added after the Agreement is accepted by the Bank, if all Renters are present to visit the Box location, sign the new Agreement and provide the Bank with all the necessary information in accordance with the Identification provision of the agreement. 

You can access your safe deposit box as often as you like during branch operating hours, with no additional charge for visits. There is no limit on the number of times you may open your box. However, access is restricted to branch hours, so plan your visits accordingly, as the bank’s vault areas are only accessible when the branch is open.

The rental fees for a safe deposit box at SBIC Bank depend on the box size you select. Fees typically start at $125 per year for small boxes, with prices increasing for larger boxes based on availability and demand. In addition to annual rental fees, there are extra charges for services, such as:

• Replacement keys or lock changes.
• Drilling a box if you lose both keys.

The rental agreement will detail these fees, and you’ll be provided with an overview during the rental process.

When renting a safe deposit box at SBIC Bank, you’ll need to bring valid identification, such as a state-issued ID, passport, or driver’s license. In addition, you will need to provide proof of address (for example, a utility bill, lease agreement, or bank statement). Having these documents ensures a smooth and quick rental process.

Safe deposit boxes can be surrendered at any time before the next scheduled automatic payment, provided all contents are removed, keys are returned, and any required documentation is signed with SBIC Bank.

If your safe Deposit Box rental fees remain unpaid, SBIC Bank may temporarily restrict your access. For detailed information on overdue payments, potential termination of the rental agreement, and further steps, please refer to the full rental agreement and schedule of fees available on our website. Alternatively, you can visit the nearest branch for assistance.

No, safe deposit boxes must be rented in-person at one of SBIC Bank's branches. This is necessary for verifying your identification, completing necessary forms, and for receiving a set of keys for your box. The in-person process ensures that your identity and access rights are properly confirmed.

Yes, SBIC Bank allows you to safely store digital media such as USB drives, external hard drives, flash drives, or backups of important files in your safe deposit box. This can be an excellent way to store digital backups or personal files that you don’t want to risk losing in case of hardware failures.

No, the bank does not inventory or check the contents of your safe deposit box. You are solely responsible for the legality and appropriateness of your items.

No, the renting of a safe deposit box at SBIC Bank is only available to individuals who are 18 years of age or older. This is in line with legal requirements, as minors cannot enter into contracts.

To close your safe deposit box, simply visit your branch during business hours. Ensure that all contents are removed from the box, and the key(s) are returned to the bank. The bank will verify that the box is empty and will confirm the closure in writing. If any fees are due or if you’ve experienced any issues (such as a lost key), these will need to be resolved prior to closing the box.