Sometimes it is necessary or convenient to store precious items in a bank. There are different ways to go about this and different options that can suit different storage needs. Private vault storage is often associated with super valuable items while safe deposit boxes tend to be reserved for more personal items. However, the value of an item can differ from person to person.
In this video, you will learn about the differences between private vault storage and safe deposit boxes so you can make an informed decision.
The most important distinction between the two is that safe deposit boxes are not actually safe from the bank. It is possible to lose access to your items in the event of something like a bank holiday. A vault, however, is a private company that is not regulated by bank laws, meaning such events will not apply to your items. Vaults will also insure your items. Both options will work for any type of item, but vaults will always be better.