Many people invest in safety deposit boxes to hold their jewelry, money and important documents. These boxes are individually secure containers held in banks that act as storages that protect against theft, fire, floods, etc. They are opened when the key given to the owner of the box and the key held by the bank are used simultaneously. If you lost the key for a safety deposit box, it may cost you.
The first and most important thing to do in the case that you misplaced your safety deposit box key is to keep looking! The process to replace your key is long, annoying and expensive. Without having your key, the bank will have to drill the box open at your own cost. This process can cost up to $150. Another option you have is to replace the lock, but this also costs money and is only slightly cheaper if you have one of the keys.
The bank does not keep an extra set of keys for your safety deposit box because of safety and privacy issues. There is only one set and that is given to you so if you lose it you will need to get a whole new lock/set of keys.
In order to get into your box without your key you will have to go through an elaborate process. First you must go to your bank with a valid government issued identification. The bank will have to verify your identity and schedule another appointment to have the box drilled. The owner of the box and the bank representative need to be present when the safety deposit box is being drilled. Remember, the cost of drilling and replacing the lock/keys is all on you.
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