What should you do if your bank stops renting safe deposit boxes?

At ING, new requests ended in January 2022; the first communication to a first group of customers started in mid-April 2022; the rooms were then closed "in different phases", until the final phase was completed at the end of 2023 (RTBF).

Nothing is automatic or uniform: Febelfin points out that "the rules contained in the rental contract are set freely by each banking institution" (La Libre, 26/11/2024).

A bank safe deposit box has a legal peculiarity: the bank does not know its contents. "Only the customer knows the contents of their box, they must prove that a loss occurred. Insurance can only apply if the customer manages to establish that a theft took place," Febelfin explains (La Libre, 26/11/2024). A case described in the press illustrates this: a customer was told it would be up to her to prove the disappearance of valuables from her box.

Another bank. KBC, Belfius and BNP Paribas Fortis still rent boxes, but availability depends on branches still equipped with a room, and their stocks are shrinking (Le Soir, 03/01/2025; L'Avenir, 04/06/2025). First question to ask: which branch near you still has a free box?

Your bank's external partner. ING directs its customers to CitySafes, a private network of twelve rooms in Belgium. Its rental conditions are public: a valid European identification document and an IBAN bank account are required (official FAQ).

A private non-bank vault room. The model has existed in Belgium since 2012, with no bank account required and open to all nationalities: that is the option detailed below, in Dottignies (Mouscron).

A home safe. The path looks simple but moves the risk to your home: thieves can force the safe open or carry it away, a customer who moved to a rented box after his bank closed the service told RTBF (RTBF). It is a choice to weigh, not an obvious one.

Which documents must you present? Is a bank account required, and at which institution? Who can access the box in your absence? The answers differ from one operator to another: ING's partner conditions the rental on a European identification document and an IBAN account, while the Dottignies (Mouscron) room only asks for a valid identity card or passport, with no bank account, for private individuals and professionals alike. Also compare the termination terms: in Dottignies, it is done by registered letter with ten days' notice, any started year being due, as the contract is annual and payable in advance.

In 2012, Gold & Silver Company opened the first private safe deposit box rooms outside the banking system in Belgium. A private non-bank vault room can serve as a fallback; the conditions, formats, prices and access arrangements are on the provider's official page: from €240 to €350 a year depending on the format, or €10 a month for numbered storage, with no bank account required.