Some financial institutions charge an initial deposit when renting the safety deposit box.
Again, this depends on your bank and its lease terms. For a smaller box, you may have to part with around $40 a year and upward of $300 a year for the largest box. These boxes come in different sizes and can be as small as 3 x 5 inches or as large as 10 x 15 inches.īank of America will charge you safe deposit box fees depending on the terms set upon by the bank. What Is a Safety Deposit Box Fee at Bank of America?Ī safety deposit box is a secure container you can rent from your bank or credit union to store essential items. If you want to fight bank fees and ensure money stays in your pocket, DoNotPay can help. The average cost of a Bank of America safety deposit box varies according to the bank's location and the size of the box. Many people rent safety deposit boxes from financial institutions to store valuables such as watches, art, and documents. There are several factors to consider when thinking about the safety of your valuables and how much you're willing to pay for security. Safeguarding valuables can be a worrisome affair. I Get Bank of America Safety Deposit Box Fees Waived
