Storing your valuables or important documents in a safe and secure manner shouldn’t be a hassle.
You want your items to be protected — yet easily accessible by you — in a large enough space that is affordable.
Sounds like you need a safety deposit box.
But you are likely playing a waiting game for one as most large financial institutions have lengthy wait lists, or rely on a “lottery”-style, first-come, first-served process to make them available.
Thankfully, a new business called Canada Regal Vault Inc. recently opened a private, safety deposit box service in central Richmond designed to make getting and using a safety deposit box simple.
“Some people are waiting years for a bank vault safety deposit box,” said Kate Ren, one of the co-owners of the new business. “That’s because banks don’t look to make a profit from this type of service. They focus on lending, investments and their credit card business to make money.”
As a result banks generally provide minimal space — about 200-square-feet — for their vaults.
“All we do is provide safety deposit box space for customers who need it,” Ren said. “That way we can offer a much larger vault and larger boxes.”
Most banks start with boxes measuring 2 by 5 inches in height and width and run 20 inches long. With those tight dimensions it’s likely you have room for about five passport-sized documents.
Canada Regal Vault’s smallest boxes are 3 by 5 inches and run 22 inches in length. Plus, their largest boxes are 10 by 10 inches, a size most banks cannot offer.
In addition, Canada Regal Vaultprovides plenty of security with its 80-ton, structural steel mixed in concrete, class 2 bank vault custom-built by Hamilton of Cincinnati, Ohio.
“That’s a very strong, bank-level form of security,” Ren said. “The only one higher is for the (U.S.) Federal Reserve and military purposes.”
Customer access to the facility is also high-tech, using iris recognition for biometric identification, and a specially designed entry-way that allows staff to screen all who enter the building.
And there is zero tolerance for storing illegal materials, which is covered by a user agreement customers sign before access is granted.
Costs start at $300 for an annual contract for the smallest box size.
For more information about Canada Regal Vault Inc.visit online at regalvault.ca, or call (604) 370 0386.