Safe deposit box comparison 2017 – Sydney CBD

This is a safe deposit box comparison I composed in December 2017 by comparing Guardian Vaults, Custodian Vaults, Westpac and Commonwealth Bank safe deposit boxes. Be aware that my purpose is to store A4 sized documents so I cannot use the smallest box.

Main purpose:

  • Storing irreplaceable A4 documents
  • Storing 2.5-inch portable hard drive

Constraints:

  • Sydney CBD or close to CBD
  • The box must larger than A4 document (with some buffer, because the document may be placed in protective cover)
  • Not bending or folding the document
Guardian Vaults
Sydney
Custodian Vaults Westpac
341 George Street
Commonwealth Bank
120 Pitt Street
KSS
Camperdown
Location

CBD

Not in CBD
1-19 Booth Street Camperdown
Security rating

Independent high-security vault

Bank

Self-service storage
Monday-Thursday 9:00~17:00 8:30~17:30 9:30~16:00 9:30~16:00 24hr
Friday 9:30~17:00 9:30~17:00
Saturday access 10:00~13:00 fortnightly 8:30~12:30
every Saturday
No No
After-hour access Not available Available but expensive1
Non-refundable set-up fee 0 0 0 $60
Refundable key deposit 275+25=$300
$275 for keys
$25 for fob
$250 $250 0
Number of keys issued 2 2 2 1
$60 non-refundable for an extra key
Insurance $10,000 $10,000 No No
Can authorise additional person? 4 additional2 4 additional Yes, but I didn’t ask for detail 4 additional I didn’t ask
Annual fee $404. Or $371 first year3
Medium
$556
Large
$375
Size B
$209
Size B
$20*12=$240
Medium
Size of the box4
(W*D*H)
29*56*8 cm 42*68*14 cm 24.6*54*6.6 cm 25*53*6 cm 35.2*49.2*12.5 cm
Number of access Unlimited Unlimited I didn’t ask. 12 free access5 Unlimited
Restrictions Must be a Westpac customer6 Valued customer only7
Booking Not required Not required, but recommended Not required Not required Not required
Authentication Fob
Hand geometry
Key
Photo ID
Fingerprint
PIN
Key
I didn’t ask. I didn’t ask. PIN
Barrel key lock or padlock
What would happen if the customer lost the keys Need to drill the lock and pay for the cost. Need to drill the lock and pay for the cost. Need to drill the lock and pay for the cost. Bank has a backup key
Interlocked doors Yes No, but the guard has the control of the lift. No No
A dedicated guard always stays behind the glass Yes. If a customer needs assistance, another staff will be called. Technically it’s impossible for the guard to leave the guard room to assist the customer. No. I’ve seen the guard leaving the guard room to assist the customer. But they have other staff in the office. Didn’t see any. Didn’t see any. I didn’t visit the facility.

Feel free to use referral code 8737 if you choose Guardian Vaults. After I open an account at Guardian Vaults, the actual ‘usable width’ is about 23 cm – which is enough for A4 document in a plastic-based protective cover.

1 By request. Require 72 hours notice, and cost $800 per working hour.

2 Each additional person must have a fob, which is $25 refundable.

3 Use referral code 8737 for this offer.

4 The colour is based on the width, as some A4 documents may be placed in a protective cover. A4 document is 21 cm in width.

5 They have two options. Option 1: 12 free access per calendar year, $12 per additional access. Option 2: Unlimited access for $140 per year.

6 $5 monthly service fee of Westpac Choice account may apply.

7 Size B, G and I for valued customers (e.g., home loan) only. Size A (not suitable for A4 document) for all customers but need to wait.

Commonwealth Bank size list

  • Size A (11*53*6 cm)
  • Size B (11*53*11 or 25*53*6 cm)
  • Size G (26*53*26 cm)
  • Size I (44*53*50 or 60*39*100 cm)
Westpac size list
  • Size A (11.5*54.0*6.6 cm)
  • Size B (24.6*54.0*6.6 cm)
  • Size C (24.6*54.0*12.7 cm)
  • Size D (24.6*54.0*25.4 cm)

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