Banks Offer Peace Of Mind In Safe-Keeping Valuable Items

It’s very common for someone to lose important documents like academic certificates, land title deeds, insurance contracts and so on. There’s nothing as daunting as replacing some of these certificates – both in terms of the money and time involved.

It can be so traumatizing if, for instance, you lost academic certificate when you are waiting for a job interview! Or a title deed goes missing just when you want to apply for a loan and use it as security.

Co-operative Bank safe keeping services ensure customers can safely store some of their most valuable possessions including precious metals. Safekeeping gives the person a peace of mind knowing where to get documents or whatever valuable items they have safe-kept whenever they are needed.

The banks charge for safe deposit boxes. At Co-operative Bank it costs as little as Ksh3,000 per year to keep valuables and access is only limited to people you choose. “The service is intended to relieve our customers the stress of losing a valuable document and the hustle of replacing the same,” it says.

This service is ideal for both individuals and corporates with valuable documents or items and would wish to safeguard them against threats such as fire, burglary, loss or damage. Acceptable items under safekeeping include title deeds, insurance policy documents, academic certificates, marriage certificates, data back-up and motor vehicle log-books among others.

The bank is not aware of the documents or items in the safe deposit boxes. When applying for a safe deposit box, you are required to declare that: the nature of the documents or items in the box is not illegal items like explosives and guns.

This service comes in two options. Customers can get safe keeping boxes, where the Bank rents out a safe box to its customers. The client is assigned two keys and the box is accessible during normal working hours. This kind of arrangement is ideal for storage documents and jewellery.

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Requirements are the standard Know Your Customer (KYC) for individuals and companies. The price is Ksh12,000 for a large box, Ksh8,000 for a medium box and Ksh4,800 for a small box. The second option is the branch safe keeping of parcels.  This service is available for Co-operative Bank customers and is offered throughout their branch network.

“The bank accepts properly sealed documents in envelopes within legal discretion that what the client has provided is lawful. It is ideal for academic/marriage certificates, title deeds, insurance policy documents, log books and data back-up,” Co-operative Bank says. The charge for this is Ksh3,000 annually.

1. Renters safe keeping boxes

• Under this option, the Co-operative Bank rents out a safe box to our customers of varying sizes – small, medium and large.
• Client is assigned two keys and the box is accessible during normal working hours.
• Ideal for storage of title deeds, academic/marriage certs, data back-ups, logbooks, insurance policy documents and jewelry.
• Requirements are the standard KYC for individuals and company, standing order form and an executed renters’ box application form.
• The price is competitive at Ksh12,000 for a large box, Ksh8,000 for a medium box and Ksh4,800 for a small box.

2. Branch safe keeping of parcels: –

• The service is available for our Co-op Bank customers and is offered throughout its branch network.
• The Bank accepts properly sealed documents in envelopes within legal discretion that what the client has provided is lawful.
• Ideal for academic/marriage certs, title deeds, insurance policy documents, log books and data back-up.
• Competitively priced at Ksh3,000 p.a.

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