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Old 01-10-2014, 11:36 AM
 
1,023 posts, read 1,451,894 times
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I am shopping around for the best rate on a Safe Deposit Box for the storage of important documents. I would consider any reputable Bank or Credit Union, but am hoping someone here has information regarding any special promitions (i.e. Open an account with $XX.XX minimum balance and qualify for a free Safe Deposit Box, etc...)

Hopefully someone here has already looked into this and would be willing to share their knowledge, thanks in advance!
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Old 01-10-2014, 11:38 AM
 
Location: Willo Historic District, Phoenix, AZ
3,187 posts, read 5,743,772 times
Reputation: 3658
Quote:
Originally Posted by WSPHXPELON View Post
I am shopping around for the best rate on a Safe Deposit Box for the storage of important documents. I would consider any reputable Bank or Credit Union, but am hoping someone here has information regarding any special promitions (i.e. Open an account with $XX.XX minimum balance and qualify for a free Safe Deposit Box, etc...)

Hopefully someone here has already looked into this and would be willing to share their knowledge, thanks in advance!
Our safe deposit box at Chase is free due to some accounts but I don't know the specific details of what is required. We do have our mortgage with them.
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Old 01-10-2014, 11:38 AM
 
Location: Hard aground in the Sonoran Desert
4,866 posts, read 11,224,111 times
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Are you or have you been in the military? Several of the banks upgrade your account for free if you can show military service. Mine has a free safe deposit box as part of my account that they gave me for serving in the military.
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Old 01-10-2014, 05:37 PM
 
Location: Hard aground in the Sonoran Desert
4,866 posts, read 11,224,111 times
Reputation: 7128
Quote:
Originally Posted by pbenjamin View Post
Our safe deposit box at Chase is free due to some accounts but I don't know the specific details of what is required. We do have our mortgage with them.
A word of warning with Chase...they had our mortgage and when I went in one time a teller told me I was eligible for their best checking account at no charge due to them holding my mortgage. I agreed and she signed me up and I had it for a couple years. This wasn't my main bank and I just kept $1000 in there to be able to get cash if needed. I didn't get statements sent to me as I agreed to their "go online" to view your statements.

Then one day I get a notice that Chase has sold my mortgage to some other company which I didn't think much about. I didn't give any thought to this affecting my other accounts with them.

One day I get notified by postal mail that my checking account has been overdrawn (an account I don't even use) and I have a couple hundred dollars in fees accumulated. I went online and looked and when they sold my mortgage they started charging me for their most expensive checking account and safe deposit box which I would have never had or needed if their teller didn't push it on me that one time. Over the year it had drained that account and racked up fees.

So, if Chase ever sells your mortgage be aware they are immediately going to start charging you for the checking account and the safe deposit box.
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