Private vault vs bank
Private vault or bank safe deposit box?
Banks have been shrinking their safe deposit services for years. Here's how a private vault compares, so you can decide where your valuables belong.
Side by side
How they compare
| Typical bank box | Knight Private Vault | |
|---|---|---|
| Insurance on contents | Not covered by FDIC; usually none | $5,000 SDBIC coverage included |
| Opening hours | Branch hours, usually weekdays | Mon–Sat 10–6, after hours by appointment |
| How you're identified | Signature card and ID | Iris recognition, enrolled with photo ID |
| Availability | Waitlists are common; some branches no longer rent boxes | All four sizes plus closet safes |
| Sizes | Mostly small boxes | From 5″ × 5″ up to a walk-in closet safe |
| Account needed | Often requires a bank account | No account needed |
| Privacy | Open in a booth inside the branch | Private viewing rooms behind a closed door |
Bank policies vary by bank and branch. Check with yours for its exact terms.
Why people are leaving bank boxes
Many banks have stopped offering safe deposit boxes at new branches, and some have closed boxes at existing ones. Where boxes are still offered, waitlists for the larger sizes are common.
Contents aren't insured. FDIC insurance covers money in your accounts, not what's in a box. If a bank vault floods or is burglarized, you may have no coverage at all unless you've arranged your own.
Access follows bank hours. Most branches open the vault only on weekdays, often with shorter hours than the lobby.
What a private vault does differently
A private vault exists only to store valuables. At Knight Private Vault every box includes $5,000 of insurance, entry is controlled by iris recognition, and you open your box in a private room. We're open six days a week, with after-hours access by appointment.
Common questions
Are bank safe deposit boxes insured?
No. The FDIC insures deposits, not what's inside a safe deposit box, and most banks don't insure box contents either. Every box at Knight Private Vault includes $5,000 of SDBIC coverage, with higher limits available through AXA.
Do I need a bank account to rent a box here?
No. You rent directly from us. All you need is a valid photo ID.
Is a private vault as secure as a bank?
Our vault is SDBIC SecurePlus accredited, monitored around the clock, and entered only after iris recognition. Banks typically rely on a signature card and a staff check.
Can I move my box from a bank to Knight Private Vault?
Yes. Reserve your size, empty your bank box, and bring the contents to your first visit. We'll enroll you and get you set up the same day.
Moving from a bank box?
Reserve your size and bring everything to your first visit. We'll set you up the same day.
Visit or call
Come see the vault
Not ready to reserve? Choose "Ask a question" on the form, call us, or just stop by during business hours.
Phone
Hours
- Monday – Saturday
- 10:00 AM – 6:00 PM
- Sunday
- Closed
After-hours access by appointment.