Lost Your Bank Locker Keys? Here is What You Should Do

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It's almost inevitable these days to have a bank locker. In fact, individuals these days do not even bother opening an account if a bank is not able to offer them a bank locker.

Lost Your Bank Locker Keys? Here is What You Should Do
Not all bank branches can offer locker facilities, though most of them currently do.

Bank Locker Charges

Bank locker charges vary from bank to bank and size of the lockers. They can vary from as much as Rs 2,500 to much bigger amounts. Banks mostly charge the bank locker rentals in advance and once you have paid, you cannot get it back. Most banks charge for one financial year in advance.

Banks almost always handover one key to the locker that is rented out and one key is kept with the bank. When you need to open the locker, a bank official visits the locker with his or her key and you have to open yours. Both together only simultaneously can open the locker.

What if the Bank Locker Keys are Lost?

If you happen to misplace or have lost the bank locker keys, the first thing that you should do is intimate the branch manager. The best way would be to do so in writing.
The bank would then take the initiative to ensure a duplicate key or to break open the locker. A locksmith would have to be called for the purpose and your presence would have to be there. This is because of the valuables that are present in the locker. In no circumstances can the bank open the locker without your presence.

Charges to Replace the Bank Locker Keys

It's extremely difficult to pin point one set of charges that would be entailed for making duplicate keys or getting a new locker altogether. Making a duplicate key from the original manufacturer of the locker could cost as high as Rs 5000. It's important to note that the amount will not be borne by the bank and all charges as well as ancillary charges arising thereof will have to be borne by you.

In fact, this is made abundantly clear by a host of bank websites that make it clear all charges pertaining to opening of the locker with the making of a duplicate will have to be borne by the holder.


It's best to take care of your keys rather thn incur the huge expenditure to get duplicate keys or expenses incurred to break open the locker.


Read more about: bank locker
Story first published: Friday, January 30, 2015, 11:29 [IST]
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