Safe Deposit Vault Lock Box: Advantages and Disadvantages

A vault box also called a safe or safety deposit box is a type of storage container or box usually used by institutions to preserve customers’ valuables and important docs. in their care.

A safe deposit lock box is typically made of metallic materials and is popularly used for storing jewelry, files, and sometimes, cash.

Most safe deposit vault boxes are secured with a combination or key lock, while modern vault lock boxes now use electronic locking mechanisms and biometrics to secure users’ valuables.

How to Lock and Unlock the Vault box?

The method of locking and unlocking your safety deposit vault box depends on the locking mechanism used by the maker.

The following, however, are the common ways of opening and closing most vault boxes in the market.

Combination lock system

If your safe deposit lock box has a combination lock system, you would need to enter the correct combination of numbers to open your vault.

To activate this lock, simply go through the box’s manual and follow the instructions therein to lock and unlock your safety vault box.

Key lock system

If your safe deposit vault box has a key lock system, then you would need to insert the key and turn it to lock and unlock the box accordingly just like any other devices that use keys.

Biometric lock system

For a safe deposit vault box that uses a biometric lock mechanism, you would need to provide your fingerprint or other biometric data to open it, but it has to be the one you’ve used to activate the lock.

Kindly go through the manufacturer’s manual for how to activate this mechanism and use the biometric lock.

Electronic lock

Vault boxes with electronic lock systems are now getting popular. To lock or unlock this type of vault box, you would have to enter a code or use a keycard to open it.

Advantages of Vault Lock Boxes

Safe deposit boxes are designed to keep your valuable items secure, and of course, there are advantages of using a vault box to keep your jewelry, files, and other valuable items you want to keep for a long period.

The following are the main benefits of a safe deposit vault lockbox.

• Vault boxes come in various sizes and designs

Safe vault boxes come in a variety of sizes and designs which makes it easy to choose the one that suits your specific storage needs.

• It’s portable

There are different sizes of safe deposit boxes. If you want it for personal use, and to keep a few things, you can purchase a small-size vault box.

Small-size vault boxes can be carried with you when you travel. This can be a great advantage to business people who travel frequently and would like to keep their valuables with them when they travel.

• Convenience

Vault boxes allow you to store your valuable items in one place, making it easy to find and access them when you need them.

• It secures your Items kept in it

Vault boxes are secure and can protect against theft, fire, and other forms of damage.

These boxes are a great way to keep valuables safe and protected, and it’s often used by organizations, but they can also be used at home by individuals.

• It keeps your valuables Private

Safety deposit boxes can keep your items out of sight, thus providing a high level of privacy that other types of storage solutions may not.

• Safe deposit boxes protect your valuables against fire and water damage

Most modern vault boxes are fireproof and waterproof, thus help to ensure that your valuable items are kept safe should there be an incidence of fire or flood.

• It enhances your personality

Having a safe deposit vault can make a good impression on your clients or customers as it shows that you take security seriously.

• Insurance claim

Some insurance companies may offer discounts if you can prove that your valuables are kept in a safe storage container like a vault box.

It’s important to consider the specific features of the vault box you’re interested in purchasing and how well it aligns with your needs, to get the most out of the advantages that a vault box can offer.

Disadvantages of using Safe Vault Boxes

Safety deposit lock boxes are designed to provide secure storage for valuable items but there are a few drawbacks to using these storage boxes.

• Vault boxes are limited in accessibility

Since safe deposit vault boxes are designed to be secure, they can be difficult to access when you need to retrieve your items.

Vault boxes can be difficult to unlock when you forget your combination or lose the key.

• Vault boxes are expensive

Vault boxes are not affordable for most people especially if you have to purchase a high-end model with advanced security features.

Also, if you want to keep your vault box in a safe deposit box at a bank, there are rental fees associated with it.

• It may not be safe against Fire or natural disaster

While vault boxes are designed to be secure, they may not protect your valuables in the event of a fire or natural disaster.

Some models may have fireproof or waterproof features, but it’s important to check the specifications before purchasing.

• it’s limited in size

Some vault boxes are quite small, and you may not be able to fit all of your valuables inside.

This can make it difficult to store larger items such as artwork or documents.

• Vault boxes are vulnerable to theft

While vault boxes can keep your documents and other valuables safe, they can still be vulnerable to theft.

If someone were to break into your home or the location where the vault box is stored, they could take the entire box and your valuables would be gone.

• Reliance on electricity

Electronic locks or biometric locks require power to function, if the power goes out, you may not be able to access your valuables.

Conclusion

It’s important to weigh the benefits of vault boxes and the possible drawbacks when choosing one.

It’s also important to ensure that you have a backup plan in case you are unable to access your valuables in an emergency.

If you have lost the key, combination, or any other means to open the box, it’s best to contact the manufacturer or professional locksmith for assistance.

Attempting to open a vault box without the proper means can damage the lock or the box itself.