Safety deposit boxes headed toward extinction at Chase
NEW YORK — 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. Customers who have a box with Chase will be able to keep the box as long as the branch stays open, but they will not be able to open a new one at another location.
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 oneon-one interactions with customers when needed. Chase’s newest branches have not had vaults for some time.
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2022-10-02T07:00:00.0000000Z
2022-10-02T07:00:00.0000000Z
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