Planning to hire a bank locker? This is what you must know

financialexpress.com:

Having a bank locker can be a secure way to store valuable items and important documents. Making sure that that your transactions related to the locker are private and confidential is extremely important. In case you have any privacy concerns, do not hesitate to discuss with the bank staff. You must also know how often you will need to access the locker. Frequent access might be inconvenient if the bank’s access hours are limited.

Ensure that any documents stored in the locker are properly protected from damage or deterioration. Consider using protective envelops to avoid any damage. There are several important things you should check and consider before you take a bank locker. Here is what all you must check.

Check if the bank has lockers available for rent and if the branch is convenient for you to access. Not all branches offer locker facilities.

Choose a locker size that suits your needs. Banks typically offer various sizes, ranging from small to large. Assess what items you plan to store and select a size accordingly.

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Even if a branch offers lockers, there may be a waiting list due to high demand. Inquire about availability and the estimated wait time.

Understand the rental charges for the locker, including the annual fee. Different banks may have varying charges based on locker size and location.

You must understand that you are taking a locker in the bank to secure your valuable items of documents which can be more important than any other items. Therefore, you must ensure that you opt for a bank that ensure the safety of your possessions in the locker.

Adhil Shetty, CEO, Bankbazaar.com, says, “Bank lockers provide a