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You Should Never Put These 10 Items In A Safe Deposit Box
By MARIA SCINTO
1. Cash
If you store cash in a safe deposit box, you may not be able to access it when you need it, whereas you can withdraw money from an ATM at any time.
In addition, the FDIC, an agency that insures money deposited in bank accounts, says that its protection does not extend to anything that is deposited in a vault.
2. Uninsured Valuables
Since the bank's FDIC coverage does not extend to possessions in their bank vaults, you should only keep valuables that are already insured there.
Moreover, possessions disappear from bank vaults more often than you’d think due to family members who shouldn’t have access but talk their way into it, or straight-up theft.
3. Passport
You may need to get your hands on your passport outside of banking hours, and you don’t want to be without your passport should you need to cross a border.
4. Original Will
The bank may not allow your heirs to access your safe deposit box after you're gone, meaning that if your will is in there, they won’t be able to read it.
5. Power Of Attorney
Like with a will, the bank may not grant access to your safe vault to a person who needs to get ahold of your power of attorney, so it’s best not kept there.