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Safe deposit boxes are another service that banks
offer. Inside the bank vault, there are lots and
lots of boxes built into the wall. Each one has
one or two locks on it. The bank rents the boxes
to anyone who would like to safely store important
things like expensive jewelry, money,
birth certificates
or
wills. People like to
protect these things in case there is a fire or robbery at their house.
Let’s imagine that your grandfather gave you a valuable coin
collection. You might want to protect that
collection by renting a safe deposit box. You
would go to the bank and ask an account manager to rent
you a box. That person will ask you what size
box you need and then tell you how much it will cost for
you to rent it for a year. |
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Bigger safe deposit boxes cost more than smaller ones. You will be
given two keys that are the same. If you ever decide to stop renting
the box, the bank wants these keys back. Also, the keys need to be in a
safe place so that you know where they are but they wouldn’t be where
someone could steal them.
The account manager will ask you to sign a card to show that
you are going to open your rental box. Then you will be taken into the
vault. Your key and then a bank key are needed to open the lock.
Neither key can open it by itself. The account manager will pull out a
box with a lid on it and take you to a private room where you can put
things in or take things out of it. Bank people have no idea what you
have in the box and don’t want (or need) to know. |
Piggy Page
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What is a
bank?
This page lists
different kinds of banks and the services they offer. |
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Fun Fact |
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Superstition: If
you pick up burnt matches, you will find money.
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Godfrey, Neale S. Kids’ Money Book. New York: Simon &
Schuster, 1998.
Graphics on page:
Logo,
buttons,
links,
printable page,
jumping pig, and
citation graphics
were made by team members.
Animated pig was found in Web Animation Explosion, a graphics program we
own.
Safe deposit boxes and
safe deposit room photos were taken by team members. |