The Bank of East Asia

Corporate Banking

Safe Deposit Box

Our safe deposit box rental service puts your mind at ease because you know that your valuables are safe from risks, such as fire and theft.

Key features include:

  • Various sizes of strongly-built boxes are available for customers to safekeep their valuables.
  • Competitive annual rental rates
  • Customers can deposit and retrieve their valuables any time during banking hours.
  • No separate fee for each access
  • Key deposit is required and refundable.

 

Rental Procedure

  • The company must have an account with BEA.
  • The company must sign a safe deposit box mandate and a specimen signature card with a list of the names and signatures of the persons authorised to sign on behalf of the company.
  • Once approved, the company is required to pay a refundable key deposit and the annual rental fee for each safe deposit box rented. BEA will issue two keys for each box.

 

Access Procedure

The authorised signatory is free to access the box(es) at any time during normal banking hours. Upon verification of the authorised signature, a BEA representative will accompany the authorised signatory into the vault and unlock the box in his/her presence.

 

Autopay Option

For your convenience, annual rental fees can be settled by autopay. To set up an autopay instruction, box owners must have a Business Current Account or a Call Deposit Account with BEA, and must sign and submit an autopay authorisation form.

Thereafter, whenever the annual rental fee becomes due, the amount will be automatically debited from the box owner's designated account.

 

Rental Charges

Size

Height

Width

Depth

Annual Rent

VAT

A 3" 10" 22" £110 +£22
B 5" 10" 22" £180 +£36
C 10" 10" 22" £280 +£56
D 22" 16" 22" £540 +£108
E 44" 16" 22" £1,200 +£240

 

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Important Notes :
  • A key deposit of £50 per box is required. It is refunded when the keys of the safe deposit box are returned.
  • Only box sizes A, B, and C are available at Birmingham and Manchester branches.
  • Please note that BEA does not have access to the safe deposit boxes and therefore bears no liability for the contents of the safe deposit boxes.
  • Customers are advised to take out their own insurance for the contents of the safe deposit box.