Safe Deposit Box F A Qs

Get answers to frequently asked questions about the benefits and security of M&T's safe deposit boxes. Then visit your local branch to get started.

Why do I need a safe deposit box?

A safe deposit box is a place to store important items that would be difficult to replace. The box also helps offer privacy and security.

​​To inquire about availability and pricing details, please visit your nearest M&T branch. Our safe deposit boxes come in various sizes, depending on branch location and are subject to availability. The annual rental fee will be automatically deducted from any checking or savings account. 

​​Please use our branch locator​​ to find a branch near you – be sure to select “safe deposit boxes” from the options available.

Some of your important documents are best kept in a safe deposit box. To help you identify some of these key items, we offer a helpful, printer-friendly checklist.

Download Safe Deposit Box Checklist (PDF) >

​​We recommend that you bring your items, so that you can be sure to get the right size box for your items.  

​While contents of safe deposit boxes are not FDIC-insured, the boxes are monitored by security systems within the branch. As an added layer of security, it takes two different keys to open the box. You hold one key and the bank holds the other key. 

​In addition, when you rent your box, you and any others that will have access to your box must sign a card. Upon accessing the box, branch personnel validate the signature. For your protection, if the signature of the person seeking access to your box does not match one of these authorized signatures, admittance will be denied.

​​While we cannot guarantee that your box is fully protected from fire, flood or other disasters, safe deposit boxes and the vaults that house them are made with highly resistant materials to help combat disasters.​

​​Yes. You can help prevent water damage by sealing items in airtight bags or containers. You may also want to keep a list of the contents included in your box, put your name on each item, and make copies or take photos of important documents and items. 

​​No. The FDIC only insures deposits in deposit accounts at insured institutions. A safe deposit box is strictly a storage space provided by the bank.​

IMPORTANT INSURANCE NOTICES:

• Contents Not FDIC Insured. The contents of your safe deposit box are NOT insured by the Federal Deposit Insurance Corporation ("FDIC").

• (New Jersey) Important Notice: The contents of your vault, safe deposit box or storage receptacle are not protected against loss by the lessor unless specifically indicated in this notice, and for your protection you may wish to secure your own insurance for protection against loss with an insurance company of your own choice. You should keep a complete list and description of all your property stored in your vault, safe deposit box or storage receptacle and any available proof of ownership.

• (All states) Important Notice: (1) The contents of your safe deposit box may not be fully protected against loss under the insurance coverage maintained by the bank or safe deposit company. (2) For your protection, you may wish to secure your own insurance through an insurance company of your choice. (3) You should keep a complete list and description of all property stored in your safe deposit box, and any available proof of ownership.

We suggest that you consult with your tax advisor to determine if your safe deposit box fees can be tax deductible.

​Yes. You can jointly rent your safe deposit box with a spouse, child or other person who would have unrestricted access to the safe deposit box. The additional renter(s) must sign the bank's rental contract as a joint renter.  

​An alternative is to appoint a Power of Attorney (POA) to have access to your safe deposit box.

Contents of safe deposit boxes are not FDIC-insured.