Jewellery bank lockers are one of the most useful services if you own gold, jewellery, and other valuable items. Aside from safekeeping your assets from theft and loss, they also offer liquidation services in case you need to convert your valuable item into cash. Many financial institutions and banks offer jewellery lockers to the point that the market is oversaturated with them. With so many options to choose from, let us help you narrow down your choices by listing important factors to consider when choosing bank lockers for jewellery.

What is a jewellery bank locker?

A jewellery bank locker is a type of storage system offered by banks and financial institutions for people to store their valuable items like gold, jewellery, and other important documents for a fee. The size of the locker and duration of the rent also determine the cost of availing of this service.

What are the things I need to look out for when choosing a jewellery bank locker?

If you’ve been meaning to avail of this service but are overwhelmed by the choices on the market, you can narrow down your options by focusing on these factors:

Financial institution or bank’s reputation. Some bank lockers are more popular than others, and that’s because their reputation precedes them. Their services are world-class, which is why it’s their past and current clients who speak for them. But before you go ahead and walk right into the most well-known bank that offers bank locker services, conduct your research and check their financial stability and if they adhere to the strict security protocols.

Locker size and capacity. It’s also important to choose a locker that can hold all of your valuables, so double-check with the bank or financial institution if they offer a size that’s similar or has an allowance to what you have in mind. The allowance is needed so you can anticipate future storage requirements that can cater to your growing valuables.

Security features. Another key factor that you should be mindful of is the bank’s security features: are they updated? Do they use the latest technology and features? The vault where the jewellery bank locker is stored should have a reinforced wall and state-of-the-art security systems coupled with surveillance cameras and alarm systems to boot. Furthermore, the bank locker should only be opened through a biometric control system by authorized personnel or keycard access.

Accessibility. It’s crucial to choose a bank or financial location that’s within your proximity so you can access it easily. Since you can’t just walk in without a scheduled appointment, be mindful of their operation hours so you can schedule access to your locker whenever you need to. Nowadays, some banks offer online access to their lockers as an added feature, allowing their clients to check their valuables without the hassle of going to the bank personally.

Costs. Finally, check the costs of availing a bank locker; the fees of banks and financial institutions often vary, so choose one that’s within your budget. While you’re at it, check if they have any additional hidden fees and service charges so you can allocate more from your budget.

Once you’ve combed through all of these factors and have opted for a bank locker of your choice, you can now avail of their services and enjoy the benefits of your valuables safeguarded from theft, loss, and damage.