Do you still need a bank safe-deposit box?

Why boxes are disappearing

Some banks still offer boxes. Many are removing them as branches change. Even when a box is available, access follows the branch’s rules and hours. That is different from a safe at home.

A bank normally protects the box, not the value inside it. Standard deposit insurance covers eligible money in accounts, not jewellery, papers, or collectibles in a box. Check your agreement and insurance before relying on it.

First pile: physical valuables

Jewellery, heirlooms, coins, and small irreplaceable objects are physical storage problems. A well-anchored, fire-rated home safe can work when you need regular access. A specialist vault can work for high values or more complex insurance.

Think about fire, theft, insurance, privacy, and emergency access. A bank box is one option, not the definition of safe storage.

Second pile: paper originals

Some papers matter because they are the signed original. A will is the clearest example. A lawyer, registry, or home safe that your executor can reach may be better than the nearest bank box. Read where to keep your will before choosing.

Before you lock away the only original, ask whether someone may need it quickly and what they would need to retrieve it.

Third pile: information

Photos, scans, records, account lists, and personal instructions are information problems. Paper copies go stale. They are hard to update and easy to copy without noticing. Keep this pile as encrypted data instead.

Sealby is for this third pile: current scans, records, and private instructions in an encrypted vault. It is useful because the files stay readable only with the vault secret. It is not for jewellery or legal originals.

Who can open it?

A bank box involves the bank. The bank controls access, keeps records, and may need to act on court orders or estate procedures. That can be right for a physical item. It is not just a secret between you and a key.

An encrypted vault is different. Only someone with the vault secret can read the information, and Sealby holds no master key. That makes it a better fit for private records, not for fireproofing jewellery or replacing a legal original.

Use the right container for each job

Physical storage still matters for valuables and papers that must stay original. Fire, insurance, and estate access are real concerns. Digital storage does not replace those things.

But your information no longer needs a box. Keep it encrypted, current, and organised. Then tell the right person how to find it.