Are Safety Deposit Boxes Still Relevant?

For some, safe deposit boxes are archaic modes of storage that have little to no place in the modern world. With cloud storage and high-tech home security options, it seems that the trend is for people to store important items online or to display their valuable possessions at home.

This begs the question, are safety deposit boxes still relevant today? We will be discussing why private security vaults are a popular option for people despite modern innovations that would otherwise make them seem obsolete.

Safe Deposit Boxes at a Glance

A safe deposit box is a highly secure container used to store valuables such as jewellery, family heirlooms, bullion, personal records, and financial documents. In the past, a safe deposit box stowed away in a bank vault is one of the most sight-after ways to secure precious items from damage or theft.

However, as more banks have stopped offering this service since the early 1980s, people have started turning to non-bank and non-government vaulting facilities to safe keep rare and precious items.

One Simple Truth: Risk is Always Out There

The simple truth is people, particularly in Australia, do not want to risk losing their hard-earned wealth to circumstance. We live in a world ridden with risks that not even digital storage solutions can always prevent or solve.

Despite the changes that have happened in the past few decades, the kind of safety, security, and peace of mind that a private security vault can offer makes them a relevant and popular option for people who wish to protect their valuables. This is because:

1. Secure Private Vaults Offer Better Security Measures

Home alarm systems, CCTV, and content insurance coverage aren’t always enough to protect high-value objects that people are spending more on today. Burglars are always on the hunt for homes to invade so if you have jewellery, collectibles, fine art, currency, and precious metals at home, you and your family are not safe.

A private security vault bridges this gap and offers services like 24/7 monitoring and high-tech security systems that allow you to sit in the comfort of your own home without worrying about your prized possessions falling in the wrong hands.

2. Digital Storage Isn’t Always the Safest

While it is much simpler to go paperless and digitise important documents for cloud storage, there are still inherent risks. Hackers are always out there, servers may go down, and according to NASA, a massive solar storm can and will wipe out most of our modern technology making any attempt to retrieve any digitised document nearly impossible.

Keeping physical copies of legal documents, passports, stocks and bonds certificates, corporate files, and other important files in a safe deposit box facility is a crucial step in protecting them from the limitations of cloud storage. The same rings true for people who store their cryptocurrency key in thumb drives or hard drives.

3. Home Safes are Not 100% Secure

Did you know that most domestic safes can only withstand 30 to 60 minutes in a fire and can only withstand being exposed to 15 centimetres of water for 24 hours? This means that in the event of a firestorm, a bushfire, or extreme flooding, the valuables you store at home are likely to be damaged.

In the unlikely scenario of a home invasion.  How long do you see yourself holding out with your family being threatened?  We will willingly hand over the keys or code to a safe, to ensure the safety of our partner and children.  We all would do anything to remove the risk of personal injury to our loved ones.

Private Vaults Australia: The Best Security Vault in Town

At Private Vaults Australia, we understand why private security vaults a popular option for people that Safety Deposit Boxes are Still Relevant in today’s world. The simple truth is that there is no reason for you to put your wealth and your family at risk by storing valuables at home or in a bank safe. This is why we offer a world-class independent safety deposit box facility where our clients can have complete discretion, unparalleled security, and absolute peace of mind.

As the best security vault in town, we provide safe storage solutions equipped with a state-of-the-art security system featuring four layers of security for as low as the price of a cup of coffee per day.

Call us at 1300 888 782 or write to us at to start securing your valuables today.

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