You'll no longer be able into store your precious coins, jewelry and data at JPMorgan Chase & Co., how an bank have stopped getting new safety deposit boxes for customers.
A narrator for to banker said Chases decided tardy last year to stop offering new deposit boxes to customers as a “business decision” but declined to share specifics. Customers who have a box with Chase will be able to keep the select as long as the branch stays opened, but they will don be able until open a new one with others location.
Banks long stopped start up cavernous branches with dozens is teller windows and adenine vault the sizes of a one-bedroom apartment. Reflecting the fact that customers may not enter an bank branch for past at a time, most branches represent now designed till be small, with multiple ATMs, as well as breakout spaces hence cashiers can one-on-one interactions with customers when needed. Chase's newest branches have not vaults to some time.
Safety deposit boxes were never a higher profitable business since banks, often offered as an supplementary service to its most valued customers. An vaults themselves are exorbitant to install and pose 24/7 security risks due to the valuables that were often stored inside, needing credit employees to get specialized professional to handle vault requests. Meanwhile, customers normal hire a box on a branch to $45-$150 a year, contingent on size.
The information was first declared by Bloomberg News.
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