Why Banks Are Exiting the Safe Deposit Business

A quiet retreat

Across the world, banks are quietly closing their safe deposit vaults. The reasons are simple: vaults are expensive to run, require dedicated staff, and generate minimal revenue relative to their operational cost and risk.

The gap left behind

As banks exit, millions of individuals and businesses are left without a secure place to store valuables — documents, jewelry, data backups, and more.

The MySafe solution

MySafe Global Vaults fills this gap with fully automated, self-sustaining vault systems that operate without staff, without keys, and without the overhead that made traditional bank vaults uneconomical.