You’ll no longer be able to store your precious coins, jewelry and paperwork at JPMorgan Chase & Co., as the bank has stopped opening new safety deposit boxes for customers.
FILE - The JPMorgan Chase & Co. logo is displayed at their headquarters in New York on Oct. 21, 2013. You'll no longer be able to store your precious coins, jewelry and paperwork at JPMorgan Chase & Co., as the bank has stopped opening new safety deposit boxes for customers. A spokesman for the bank said Chase decided late last year to stop offering new deposit boxes to customers as a “business decision” but declined to share specifics.
Banks long stopped opening up cavernous branches with dozens of teller windows and a vault the size of a one-bedroom apartment. Reflecting the fact that customers may not enter a bank branch for months at a time, most branches are now designed to be small, with multiple ATMs, as well as breakout spaces so bankers can one-on-one interactions with customers when needed. Chase's newest branches have not vaults for some time.
Safety deposit boxes were never a highly profitable business for banks, often offered as an additional service to their most valued customers. The vaults themselves are expensive to install and pose 24/7 security risks due to the valuables that were often stored inside, requiring bank employees to get specialized training to handle vault requests. Meanwhile, customers typically rent a box at a branch for $45-$150 a year, depending on size.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Safety Deposit Boxes Headed Toward Extinction at ChaseYou’ll no longer be able to store your precious coins, jewelry and paperwork at JPMorgan Chase & Co., as the bank has stopped opening new safety deposit boxes for customers.
Leer más »
Hurricane Ian live updates: Ian downgraded to tropical storm; over 2.5M lose power in FloridaIan weakens to tropical storm as 2.5M lose power in Florida. Virginia, Georgia, Carolinas under states of emergency. Follow coverage.
Leer más »
Ian upgraded back to hurricane statusIan was upgraded back to a hurricane Thursday afternoon and is heading toward Georgia and the Carolinas after being downgraded to a tropical storm Thursday morning.
Leer más »
Bitcoin whipsaws, heads toward $19,000 as U.S. PCE inflation data comes in hotBitcoin traded sharply down today following U.S. consumer spending data.
Leer más »