Financial Channel

how big are they?
What am i allowed to put in there?
how much do they cost?
are the contents inside insured?

they have different sizes avilable, but overall not very big.

most reg sized ones run about 90bux a year.

as for what you can/can't put in there, just use common sense (no dangerous or biological material)..better yet..just ask the banks.

ahhh.. so if i want too.. could i put CASH inside these safety deposit boxes?

yes... i dont know why you would want to..but u could

No dangerous materials allowed

eg) a BomB


As for insurance, beyond your normal home owners, no I don't think so.. but when I'm at work on monday I can ask someone and find out, but I'm sure someone here knows off hand.

Rates @ BMO are...

Small
$40.00

Medium
$55.00

Large
$80.00

Extra Large
$150.00

Super Size
$240.00

However I do not know what the dimensions are.

40 BUCKS!

They need a "value box"

It is the annual fee. $40 a year is not a very bad price.

CIBC

Annual Rental Fee For Safety Deposit Box?br />Box Size Price/Year
1 1/2" x 5" x 24" $40.00
2 1/2" x 5" x 24" $55.00
3 1/4" x 5" x 24" $60.00
2 1/2" x 10 3/8" x 24" $85.00
5" x 5" x 24" $85.00
5" x 10 3/8" x 24" $160.00
10" x 10 3/8" x 24" $240.00

hi

Rate comparison of safety baoxes here in the link

http://www.fiscalagents.com/thestar/saf_box.shtml

titleeboy

Go to a branch to take a look dude! Each bank is different.

A bit OT but is in the spirit of saving forum reader's money:

FYI:

Safety deposit box rental fees can be written off as an investment expense.

Why would you put cash in a safety deposit box? If its an emergancy stash of cash what happens if you need it on a weekend, a natural desaster prevents the bank from opening for a couple weeks, ect, get a little safe for your home.

What they are great for is things like fancy family jewelery, important document, perhaps a DVD backup of all your photo/documents. Use it as an offsite storage for things you couldn't stand to loose shoudl your home burn down but thing you dont need access to very often.

You put cash in it because you're obviously doing something illegal and don't want to deposit a huge amount that would raise flags through the teller.

Realistically, you can put in anything that fits in the box. Bank staff don't look in your box. They just hand it to you and put it back in it's place. You take the box to a private cubicle or room where you put stuff in or take it out.

The larger boxes can be harder to get. Also try to get one in a bank that's open Saturdays.

You can also give permission to someone else to access your box in your absence (but they need access to the key of course)