As one of the few local banks offering safe deposit box services, Bank of China (Australia) Limited is committed to safeguarding customers' valuables and important documents through secure, reliable, advanced facilities and flexible rental options.

Service Features

• Secure and Reliable Facilities: The bank vault is designed with multiple layers of protection and sturdy safe deposit boxes to ensure the security of your valuables.
• Dual Authentication: A dual-key system is used, requiring both the customer’s and the bank’s keys to open the safe deposit box at the same time.
• Professional and Standardized Management: Strict key registration and management procedures, along with rigorous access verification, ensure authorized use.
• Cost-Effective Solution: Five different box sizes are available at affordable prices to meet your various secure storage needs.
• Flexible Rental Options: Access to the safe deposit boxes is available during business hours without appointment; the first four visits each calendar month are free.
• Privacy Protection: Private viewing rooms are provided within the vault for customers to view their belongings, respecting client privacy.

Box Size Specifications

The Bank offers customers a choice of five box sizes (dimensions may vary by up to 10 mm at different branches). The specific dimensions are as follows:

• Box A: 64 x 116 x 535 mm
• Box B: 115 x 116 x 535 mm
• Box C: 64 x 252 x 535 mm
• Box D: 115 x 252 x 535 mm
• Box E: 244 x 252 x 535 mm

Frequently Asked Questions (FAQ)

Q: How do I apply for a safe deposit box service?

A: To apply for a safe deposit box service, you must be at least 18 years old and have an individual account with the Bank. Bring valid identifications to a branch for the application. After approval, you will sign the safe deposit box rental agreement.

Q: Are safe deposit boxes fire proof?

A: Yes, all safe deposit boxes and the Bank vault (where boxed are held) are fire proof.

Q: Do I need to insure the contents of my safe deposit box?

A: The Bank has no knowledge of the contents of safe deposit boxes and accepts no responsibility for any loss or damage to the contents. Accordingly, you should consider your own insurance requirements.

Q: If I lost my key, could the finder open my box?

A: No, before anyone is allowed access to the vault where the safe deposit boxes are held, the identity of the person must be verified by the Bank as a registered holder of a safe deposit box or an agent of the registered holder. Once permitted into the vault, the key holder can only use the key in the customer lock at the same time that the Bank staff member inserts the Bank key into the Bank lock.

Q: Can Bank staff open my safe deposit box?

A: No, not while the safe deposit box is under a customer’s control. To open a safe deposit box that is in operation and under a customer’s control, both the customer lock and the Bank lock must be operated with the separate keys at the same time. The Bank key cannot open any safe deposit box without the customer key being inserted in the customer lock at the same time. The customer key and the Bank key must be used together to open the safe deposit box. The Bank maintains strict key registration and management. There is no duplicate of a customer key.

Two customer keys are issued to the safe deposit box holder and no other key for that box can be provided. If both keys are lost, the Bank cannot access the box for the customer and the box lock must be replaced by a locksmith. Please refer to the Fees and Charges specified in the Agreement for Hire of Safe Deposit Box attached below for details.

Q: Can other persons have access to my safe deposit box?

A: Only persons authorised by the customer and holding a customer key can access the box.

We may drill the locks to access the box if we are compelled by law to do so (including in accordance with an order of a court or other judicial/administrative body). We may also drill the lock to access a box in circumstances where the customer loses both keys or where the customer is in default under the terms of the agreement, such as when the Hire Fee remains unpaid for more than 3 months.

In the event of death of the sole hirer, the Bank may grant access to the box to the Executor/Administrator of the hirer if the Bank has received the production of the Probate or Letters of Administration. Where two or more hirers jointly hold a safe deposit box, the survivor(s) retains access to the box.

Q: How to renew safe deposit box hire after the commencement date?

A: You authorise the Bank to debit the amount of fees and charges from your nominated account as part of the Agreement for Hire of Safe Deposit Box. The annual hire fee will be direct debited in advance on each anniversary of the commencement and the hire will continue while the fees are paid.

Q: What items are forbidden to be placed or kept in safe deposit box?

A: You must not keep cash in the amount equal to or more than AUD10,000 (or equivalent in another currency or currencies combined) in the box. You must not place or keep any liquids, explosives, guns, flammable material, drugs, gas, corrosive material, radioactive materials or things which may become dangerous, offensive or a nuisance to any person, or things which may harm the interests of others, or any item that may be damaged due to temperature fluctuations or the item requires a controlled environment (e.g. audio/visual tape, film, wine or biological material).

Contact your local branch with any questions not addressed in our Frequently Asked Questions (FAQ).

Safe Deposit Box Service Branch Information

Safe deposit box service hours: Monday to Friday, 9:30 AM to 4:00 PM

(Note: the service closes half an hour earlier than the branch’s business hours on Monday-Thursday and one hour earlier on Friday.)

The above information is provided for general information only and does not constitute any financial or legal advice. Please read the Safe Deposit Box Service T&Cs and Fee Schedule in the Agreement for Hire of Safe Deposit Box (please see the attachment) before making any decision to acquire or continue to hold the Safe Deposit Box product based on your own circumstances, purposes, and needs. To find out more detailed product information, please visit a branch of Bank of China (Australia) Limited. The product is issued by Bank of China (Australia) Limited (ABN 28 110 077 622, AFSL No. 287322).

Attachment:

• Agreement for Hire of Safe Deposit Box (Effective on 28 February 2025).pdf