Renting bank safe-deposit boxes versus bank-independent storage

Renting a bank-independent safe deposit box in Switzerland has many advantages

Almost every banking establishment has bank safe deposit boxes at the disposal of its customers. These can be used for storing securities, cash deposits, jewellery or precious metals, as well as for things like important documents or electronic data back-ups. Customers benefit from the reliable security systems of these in-house vault storage systems. Unlike placing items in your own safe or in other hiding places, theft protection is significantly higher than it would be at home. Nevertheless, classic safe deposit boxes in Swiss banks come with some distinct disadvantages. On the other hand, privately managed and, therefore, bank-independent providers offer a real alternative.

If you want to open a bank safe deposit box to store your valuables, you first need an account or a savings account with the respective establishment. This results in additional account fees on top of the safe deposit box rental charges. The situation is different with non-bank safe deposit boxes, such as those offered by Swiss Gold Safe . Because neither customers from Switzerland nor from other countries need to open a bank account in the country, virtually anyone who is interested can begin renting a safe deposit box in a highly uncomplicated manner.

Discreet storage without legal reporting requirements

Privately run facilities, far from government regulation, offer further advantages : storage is completely discreet and is not subject to any statutory reporting requirements. Neither domestic nor foreign authorities receive information about the renter of a private safe deposit box. Furthermore, information about the stored valuables is not handed over. The content always remains the property of the customer, even in the unlikely event of the bankruptcy of the private warehouse provider.

The latter is also true of bank safe deposit boxes, of course, but experience shows that bankruptcy proceedings in the event of bank failures can extend over a long period of time. During a period like this, bank customers do not usually have free access to their safe deposit boxes.

Including basic insurance – full insurance possible

In contrast to financial institutions, the rental of bank-independent safe deposit boxes at Swiss Gold Safe already includes free basic insurance of CHF 25,000. Alternatively, full insurance is possible, charged at a rate of 0.2 per cent per annum of the values of the stored items. With this service, too, customer data remains confidential. Indeed, insurance is arranged anonymously via the safe deposit box number. A renowned Swiss insurance company is at the customer’s side as a reliable partner to provide such insurance services.

Good accessibility and discreet access

The privately managed high-security vaults at Swiss Gold Safe are located outside of metropolitan areas or large cities. Situated in the Gotthard area, they are easily accessible from all parts of the country as well as from other parts of Europe. The vault systems are characterised by high-security features and safeguarding processes. During office hours (Mon.-Fri. From 8:00 a.m. to 12:00 p.m. and from 1:00 p.m. to 5:30 p.m.), access is possible at any time by prior appointment. Booking ahead by the customer enables further discretion to be arranged when visiting. Outside of these times, 24/7 access is possible with an on-demand service that can be arranged with an accompanying surcharge.

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The advantages of non bank safe deposit boxes at a glance: