Historically, the people who need to protect your savings in dollar, deeds, gold and other valuables, use safe deposit boxes. But, in times of electoral uncertainty, demand increases.
As reported by private companies, demand for safe deposit boxes continue to increase as a result of the closure of bank branches. The problem for some banks is that in some cases, the availability of tellers is less than 10% of the total capacity. That is why private options, even though they are more expensive, grow at a rate of 40% per year.
The protection options offered by the different public and private entities vary according to the size of the boxes. Among some of the Benefits of having a safe deposit box include:
- Discretion about the content
- Possibility of choosing branches and box sizes
- Privacy to operate
- Automatic payment: debited monthly through a credit card.
An important fact to add is that they have no regulation, since it is a contract between private parties.
Safe Deposit Boxes: How much do they cost and what are the requirements?
Ambit consulted leading public and private financial entities in Argentina.
In National Bankthe values range from a petty cash in a public entity from $5,004.22 (per month) to a median of $8,419.80.
Bank province, It has approximately 52,000 safe deposit boxes distributed in 94 branches that offer this service, although most of it is concentrated in the branches of: Headquarters, La Plata Headquarters and Mar del Plata Department. In this case, the cost is quarterly and the smallest box ranges from $9,720 to the largest of $59,400.
In bbva bank, the costs depend on the dimensions of the box. They range from $4,500 for the cheapest to $43,000 for the most expensive (including VAT).
Finally, in Santander Bank, the smallest box costs $95,000 + VAT, annual price and for a physical person.
For its part, from Ámbito we also survey the costs for private safe deposit boxes. Ignacio Serrano Marketing Manager of hausler He asserted that the company aims to double the number of active clients with new branch openings. The prices of the private safe deposit boxes in this case vary according to the size of the contracted box and the contract term chosen. Boxes can be hired for 1, 3, 6 months or for an indefinite period with available prices starting at $11,000 per month.
Juan Piantoni, CEO of ingot, Another of the private companies that have this service revealed that the contract period is also from 1 to 3 years or for an indefinite period. If the most common size and term contracted by the client is taken, a petty cash for one year, it has a final monthly cost of $8,560, including coverage of US$50,000 in the traditional system or $9,245 per month.
Whichever option is chosen, the requirements are similar. In the case of banks, the requirement is ID and being a customer. While, in the companies that provide this service, the contracting process requires a DNI or passport and a service in the name of the holder.
Bonus track: two facts to take into account
1. A consulted source revealed that the growth of security boxes tends to increase around elections due to the context of uncertainty or in holiday periods (seasonal). “A presidential election is greater movement, we can talk about the demand in election months increases between 35 and 50% over the monthly demand that is usually 60 new customers per month, a number that varies depending on the branch.”
2. Depending on the size of the safe, the bills can be stored. In a small box they usually enter between 2,500 and 3,200 billsso if they are all $100 bills, you can save between $250,000 and $320,000.
Source: Ambito
