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Monday, March 12, 2018

What affects the cost of rent of Bank cells

The Russians have less to travel abroad, but banks are still preparing for a rise in demand for safe Deposit box. It’s simple — holiday season begins.

photo: flickr.com

Demand for cells is influenced by two factors: the economic situation and seasonality. In the summer holidays, as in Christmas holidays, when many are leaving, leaving their homes and apartments unattended for a long enough period of time, the demand for cells is increasing considerably. Even those whose houses are equipped with burglar alarm and safes, prefer to store your cherished possessions in the hands of the banks.

The withdrawal of licenses from banks, scary stories about the hassle of the affected depositors also stimulate the demand for cells. After all, it’s a good alternative to storing money at home, especially since the deterioration of the economic situation always leads to higher crime.

“Currently, the major banks providing this service, the occupancy of the cells is on the order of 70-75%. The average demand for this service for two years increased by 20-25%. Thus, in some cases, in periods of high demand, especially in large cities, there are situations when is not available free cell the most popular categories — the smallest or the largest,” says managing Director, BCS Ultima Stanislav Novikov.

The demand for cell always had quite a high degree of seasonality. And this summer is unlikely to be an exception. It can be assumed that slightly reduced the amount of leased cells in the overall market as people become, in particular to drive less in foreign travel. But within the framework of each individual Bank in the holiday season, the service becomes more popular. “Everyone chooses for itself an optimal system of tariffs, daily or monthly payment,” — said the head of the Center for development of savings, payment and Commission products OTP Bank Paul complex Department.

Raiffeisenbank also notes a steady demand for the safe Deposit box. Typically, customers rent a cell for a long time. 65% of the portfolio of contracts are the renewal of the contract. Most often the cells are renting for a year, because the tariffs for this period is more profitable than the shorter time.

How do you know “EV”, now rental rates vary widely from 30 to 500 rubles a day. It is important to note that, as a rule, more than the estimated term of the contract, the cheaper it costs one day of storage.

When choosing a Bank for the rent Deposit box in the first place should pay attention to several factors: the location of Bank branches, the size of the proposed cells, the allowable storage time, fares, access mode cell, the value of the Deposit for the keys and, of course, the reputation of the Bank. “Before you sign a contract with the Bank, you need to carefully read the terms and understand whether the Bank takes the obligation to answer for the safety of the contents of the safe”, says Novikov.

Before signing a contract, it is important to carefully read the rules of the lease, in particular the list of prohibited to store things in the cell. As a rule, all the banks this list is similar and includes weapons, drugs, explosives and radioactive substances, as well as food. If you need to get someone from your family in your absence have access to the cell, it must be remembered that in this case, need power of attorney.

“Sometimes at the end of the lease term, customers pick up cell attachment, but do not pass the key to the Bank or forget about the end of the lease term. This leads to unexpected costs. Therefore, we always suggest timely return the key to the Bank and to connect the service of SMS-notification with a reminder about the end of the lease”, — said the head of the development of relationships with wealthy clients and non-credit products Raiffeisenbank Damian leclaire.

Despite the fact that the rental of cells is stable, she was influenced by the decline of incomes. “During the holiday season is the traditional increase in demand for rental of safety Deposit boxes. However, in recent years the specified surge was much less pronounced. This trend is due to several factors: some clients rented the box on a regular basis, and some customers refused the service in order to save. In the past year, this segment was quite conservative in terms of pricing. But a slight increase in the prices of some players still observed”, — says head of retail products of retail business Department of Loko-Bank Natalia Pavlunina. She advises to pay attention to the office location that was convenient to use the services of the Bank.

Storage means in the cell is a good way of diversifying savings. But it is important to remember that inflation is at a high level: the money that, in theory, should work for their owner, the cell only protect his nervous system. “When you use cell, you need to understand for what period of time you place money there. If the period is sufficiently long, it is better to place money in a major Bank to earn interest on the contribution. This applies to both rouble and foreign currency savings”, — said the first Deputy Chairman of the Bank “Ugra” Yuri Melnikov. So it always makes sense to determine the time that you will use the cell, because when prices rise by 10% per year to use the cell for safety of your funds is beneficial just for short term.

If you want to fully insure themselves against any eventuality, we can conclude with the Bank the contract of storage. In this case, the financial institution responsible for your valuables, and access to the cell is possible only in the presence of a Bank employee. A list is made of values, the Bank knows that you keep. But you’ll have to pay more than if you just lease a Deposit box at the Bank.

The decision, whether to share with the Bank contents of a cell, depends on how you value the privacy as well as that intend to keep. Cells have a good reputation, the banks monitor their reputation. The choice is always the client, because it determines how much you’re willing to pay for your peace of mind.

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