What happens if I lose my key to my safe deposit box?

Losing the key to your safe deposit box can be a serious matter, but there are steps you can take to address the situation:

1. Contact the Bank Immediately: As soon as you realize that you've lost the key, contact your bank or the branch where your safe deposit box is located. They will guide you on the next steps.

2. Identification and Verification: The bank will likely require you to provide identification and may ask you to verify your ownership of the box. This is to ensure that only authorized individuals can access it.

3. Locksmith Assistance: In some cases, the bank may recommend or provide the services of a locksmith to open the box. You will be responsible for any associated costs, which can be significant. The locksmith will typically open the box in your presence.

4. ReKeying or Drilling: The bank may rekey the lock or drill open the box in the presence of two bank representatives as a security measure. They will create a new key for you.

5. Inventory Check: The bank will usually require you to complete an inventory of the box's contents in front of bank personnel.

6. Replacement Key: You will be provided with a new key or a combination to access your safe deposit box.

It's crucial to act promptly if you lose your safe deposit box key. Additionally, it's a good practice to keep a copy of the key in a secure place, but not in a location that is easily accessible to others. Always follow the bank's policies and procedures when dealing with lost keys to ensure the security of your box and its contents.