Banking Category Banking: the easy, simple banking guide

How Much Money Can I Put in a Lockbox Legally?

A lockbox, also known as a safety deposit box or a safe deposit box, is commonly found in banks and other institutions.

Banks allow customers to rent these safe boxes to store valuables, including cash. While there are no laws that limit how much money you are allowed to keep in a lockbox, you should always consult with an attorney in your area if you need legal advice about using them.


Banks and other organisations often offer customers or clients the option of renting or buying a safe deposit box.

Such boxes come in a variety of shapes and sizes and are usually placed safely inside the banks main vault.

When you rent such a box, only you have the right to place or remove items from it, or determine who else has the right to do so. In general, there is no law that limits how much money you can keep in a lockbox.


Many people also buy or keep private safes or lockboxes in their homes, businesses or other secret locations. Like bank deposit boxes, there is no law that limits how much money you can keep in these either.

Like lockboxes or safety deposit boxes you rent from a bank, only you have the right to access your safe. If someone else wants to inspect the contents of your lockbox, you can either grant them permission or they must generally get a search warrant or arrest warrant to be able to search your private property.

Bank Rules

While there is no legal limit to how much money you can keep in a lockbox or safety deposit box, you may be limited in how you use these safes based on the rules of the bank or business that owns them.

When you rent a safety deposit box from a bank you must typically sign an agreement to comply with the rules that come with renting the box. Depending on the bank and the kind of rules in place, you may be limited in what you can keep in your safe deposit box.


Unlike a bank account, the money you place in a lockbox is not protected by the Federal Deposit Insurance Corporation.

If, for example, your bank is robbed, you are not entitled to recover the cash amount you had in your safety deposit box like you would a current account. However, many banks and individuals obtain insurance to prevent loss from such occurrences and compensate safe deposit box renters in the event of such a loss.