The Evolution New Age Safe Deposit Industry

safety lockers

The safe deposit sector in the UK has grown dramatically since the inception of the Safety Deposit Association. It was in 2013, that the association was established to ensure that the best practices are followed and the industry and customers both are benefitted from it.

There are many private safe deposit centres across the UK along with the safe deposit box facility that banks offer. The industry is growing and people are becoming aware of the benefits of keeping their valuables in safe deposit lockers.

Today, the privately owned highly secured vault facilities such as Neelkanth Safe Deposit boxes have brought a revolution in terms of the safety of valuables.

Let’s dive deep in to know the reasons that are propelling the industry forward.

Safety is important

People are searching for something more than just a place to keep their family treasures and essential papers. Investors need a secure place to keep their gold bullion bars and coins, along with other precious metal bullion. Apart from bullion, emergency cash, diamond & gemstones jewellery, precious heirloom items, stamp collection and more such important items and documents too need to be kept safely. This is the reason why people are opting for safe deposit facilities with multi level security.

A vaulted safe deposit box offers a higher level of security that is not possible at home. Even a robust locker kept in your house along with the best burglar alarm can’t beat the safety offered by private vaults.

Looking for a safe deposit box in London? Connect with Neelkanth Safe Deposit company, they offer highly secured vault services at Croydon and Southall.

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Being aware of the dangers

Today, we are living in the world of the internet and any news item, especially crime related information reaches us faster than we can expect. We not only get to read the crime news online but we can also discuss them on various forums and platforms. Thus we could say that the internet has resulted in generating awareness about the dangers we face in today’s society.

No one today wishes to witness a burglary in their home or become a crime victim. And this is the reason why more and more people are becoming aware of the benefits of keeping their valuables in safety lockers.

If you want to keep your precious things at home, you will have to invest in a robust locker with an alarm system installed. And even then, there is no guarantee that it can’t be cracked! Well, nothing is better than the security offered by a vaulted safe deposit centre.

Customers looking for better alternatives

The financial crisis and the rapid expansion of internet banking have had a variety of consequences. One of the major impacts was seen as a huge number of high-street branches were shut down. Furthermore, several big banks have withdrawn from safety deposit services, citing the reason that such services have grown too costly to operate. You must have heard the media reports that the customers are being requested to withdraw their valuables from bank lockers. People are left with no other option than to explore alternatives. And here enter the private safe deposit vaults to fill the void.

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The Asian community in the UK

If we go by various media reports, the safe deposit sector’s key market in the UK is British Asians. Indian families in the UK invest significant sums of money in wedding jewellery. They are known to spend millions on pure gold and diamond jewellery. Wedding gold and inherited jewellery are highly significant to British Indians. Unfortunately, these people have been primarily targeted by burglars looking for gold, owing to the precious metal’s soaring price. And this is prompting the interest of the British Asians in state of the art security vaults.


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