Myths About Safe Deposit Boxes – And the Truth About Secure Storage

Safe deposit boxes have long provided peace of mind for individuals and businesses wanting to protect their most valuable items. Yet despite their long-standing reputation, many misconceptions still circulate about how they work, who can access them, and whether they're still relevant today.

At Group 4 Safe Deposit Boxes in Gibraltar, we believe in transparency and trust. So, let’s set the record straight by addressing four of the most common myths we hear—and the real facts behind them.

What Is a Safe Deposit Box?

A safe deposit box is a secure, individually rented cabinet located inside a high-security vault. These boxes are used to store anything from gold and jewellery to important legal documents, USBs, and even crypto hardware wallets.

At Group 4, our facility is a reinforced bunker located discreetly inside a commercial building just off Main Street Gibraltar, we ensure dual control and maximum protection at all times, it offers the ultimate in privacy and security—perfect for both local and international clients.

Myth 1: The Facility Can Access the Contents of Your Box

Fact: Only you—or someone you've authorised—can access your safe deposit box.

One of the most common concerns we hear is whether facility staff can open your box or see what's inside. The answer is simple: no.

Our safe deposit boxes use a dual-key system. You hold your own unique key, and our staff have a master that simply allows the mechanism to function. Both are required to open the box, and we do not have access to your personal key or the contents.

Legal access can only be granted via a court order or police warrant—never arbitrarily. Your privacy is not just respected, it’s built into the design of the service.

Myth 2: Safe Deposit Boxes Are Automatically Insured

Fact: Contents are not automatically insured—but cover is available if needed.

Some people assume that once valuables are placed inside a safe deposit box, they’re automatically covered by insurance. In truth, neither banks nor private facilities can insure items they haven’t seen or valued.

At Group 4 Safe Deposit Boxes, your privacy comes first—and so does your protection. That’s why each box is covered up to £25,000 in the unlikely event of a major incident, provided you can present proof of contents to our underwriters.

If you're storing higher-value items, we can assist in arranging private insurance coverage, whether through your own provider or one of our trusted partners.

Whether it's jewellery, documents, or bullion, our team can help you explore the right protection for your needs—without compromising your discretion.

Myth 3: Safe Deposit Boxes Are Outdated in a Digital World

Fact: Physical security is more relevant than ever.

We store vast amounts of data in the cloud, but some things are too important—or too irreplaceable—to trust to digital solutions. Think about:

• Physical gold or silver

• Original contracts, wills, and property deeds

• Family jewellery and heirlooms

• Passports and backup IDs

• USBs and crypto wallets

Unlike online storage, a physical vault is immune to hacking, ransomware, and data breaches. With Gibraltar’s unique cross-border privacy advantages, safe deposit boxes continue to be one of the most secure and discreet ways to store physical assets.

Myth 4: You Can’t Access Your Safe Deposit Box When You Need It

Fact: Clients enjoy generous opening hours—and even extended VIP access outside of business hours.

A common misconception is that safe deposit boxes are only accessible during limited bank-style hours. While that may be true in some places, Group 4 Safe Deposit Boxes offers generous standard opening hours, plus additional VIP access options for even greater flexibility.

Our standard business hours are: 🕘 Monday to Saturday: 09:00 to 17:30

For those who require access outside of these times, we offer a VIP Access Service for a flat annual premium of £80, which enables clients to access their box during the following extended periods:

• Early or evening access (07:00–09:00 or 17:30–20:00) 💷 £20 per visit

• Night-time access (20:01–06:59) 💷 £40 per visit

This service is ideal for clients with demanding schedules, those travelling from Spain, or anyone who values complete flexibility and discretion.

Whether you need to stop by before work or access your box late in the evening, our VIP service ensures your valuables are accessible on your schedule—without compromising on security or privacy.

Why Group 4 Safe Deposit Boxes Are the Smart Choice

If you’re looking for a secure, discreet way to store your valuables, don’t be misled by outdated myths. Safe deposit boxes continue to offer one of the highest levels of physical security available today. And when paired with modern services like optional insurance, gold storage, and crypto wallet safekeeping, they are more relevant than ever.

Fast Facts About Group 4 Safe Deposit Boxes:

• ✅ Only you control access to your box

• ✅ Located in a high-security Gibraltar vault 

• ✅ Flexible access hours,

• ✅ Optional insurance and gold vaulting available

• ✅ Multilingual service 

Ready to Take the Next Step?

Whether you're based in Gibraltar, the Costa del Sol, or further afield, securing your valuables has never been easier.

📍 Visit us discreetly just 30m from Main Street 🌐 Learn more at www.g4boxes.com 📞 Or contact us today to arrange a no-obligation tour.