Safe deposit boxes available to rent? Are they safe?

[lemonade]

Does anyone have any experience with safe deposit boxes in Buenos Aires? Are they safe? Do you just have to be a customer of a bank? Any minimum deposit and are they expensive to rent? I would appreciate any experiences as I don't feel safe keeping the cash in my safe at home. My neighbor has a safe at home and he was just robbed. He said that they are very easy to open. They robbed $10,000 from him.

 

[Larry]

You can rent a box with most major banks. They are safe. I had one before but they are difficult to get. You typically have to get on a waiting list. Fees kept going up and I couldn't afford it so I gave mine up. If your neighbor got robbed it is typically an inside job. Probably a maid tipped off someone. A camera at home exchange is a must these days.

 

[Problema]

I wouldn't trust anything with local banks. There have been cases where people claim bank employees have broken into them.

 

[Avocado]

I wouldn't trust anything with local banks. There have been cases where people claim bank employees have broken into them.

I would agree not to trust banks in Argentina. There is a history of bank employees breaking in and also thieves digging tunnels underneath and trying to break in. No insurance for whatever you have. Most Argentines keep cash in their house hidden.

 

[Leo]

I’ve had a safe deposit box at Banco Galicia for years. You do need to be a client, but opening an account is pretty straightforward. The box rental isn’t cheap, but it’s worth it for peace of mind. I wouldn’t keep large amounts of cash at home either, break-ins happen more often than you’d think.

 

[hunt]

Be careful, some banks don’t allow foreigners to rent a box unless they’re residents. I ran into this issue last year when I tried with HSBC (It's Galicia Mas now). Better to call first and ask about the requirements.

 

[ben]

I’ve had a safe deposit box at Banco Galicia for years. You do need to be a client, but opening an account is pretty straightforward. The box rental isn’t cheap, but it’s worth it for peace of mind. I wouldn’t keep large amounts of cash at home either, break-ins happen more often than you’d think.

Very true about break ins. I am always surprised at the amount of cash locals keep at home.

 

[PhilipDT]

I've heard about private companies (not banks) like Ingot and Hausler. In researching online I came up with this:

🔐 Safety & Security Measures​

High-Level Security Protocols​

• Both companies provide private, non‑bank vaults as their full‑time business, offering more robust security systems than many banks .
• Their facilities include reinforced concrete walls, metal detectors, exclusive access doors (anti‑simultaneous opening tunnels), and multiple biometric verifications (e.g. fingerprint, iris, and even vascular scans from Hausler) .

Automated, Privacy-Focused Access​

• Hausler employs fully automated box systems, where clients access their vaults alone using biometric authentication and a personal PIN. A robot retrieves the box reliably without staff intervention .
• Ingot and Hausler both emphasize customer privacy, using aliases instead of real names, and limit the knowledge of your identity and contents within the vaults .

24/7 & Flexible Access​

• Ingot operates several automated branches with 24-hour access for clients, while both firms provide extended hours, including weekends (some offering Sunday access) .

📦 Insurance & Guarantees​

• These companies follow the same regulatory requirements as banks regarding insurance. Every box includes a minimum insurance coverage for theft, robbery, or fire of USD 50,000, which can be extended based on your declared value .
• If a company closes for any reason, clients receive notification and can remove their deposited items—there’s no risk of a “corralito”-style freeze

 

[Finance Prof]

I've heard about private companies (not banks) like Ingot and Hausler. In researching online I came up with this:

🔐 Safety & Security Measures​

High-Level Security Protocols​

• Both companies provide private, non‑bank vaults as their full‑time business, offering more robust security systems than many banks .
• Their facilities include reinforced concrete walls, metal detectors, exclusive access doors (anti‑simultaneous opening tunnels), and multiple biometric verifications (e.g. fingerprint, iris, and even vascular scans from Hausler) .

Automated, Privacy-Focused Access​

• Hausler employs fully automated box systems, where clients access their vaults alone using biometric authentication and a personal PIN. A robot retrieves the box reliably without staff intervention .
• Ingot and Hausler both emphasize customer privacy, using aliases instead of real names, and limit the knowledge of your identity and contents within the vaults .

24/7 & Flexible Access​

• Ingot operates several automated branches with 24-hour access for clients, while both firms provide extended hours, including weekends (some offering Sunday access) .

📦 Insurance & Guarantees​

• These companies follow the same regulatory requirements as banks regarding insurance. Every box includes a minimum insurance coverage for theft, robbery, or fire of USD 50,000, which can be extended based on your declared value .
• If a company closes for any reason, clients receive notification and can remove their deposited items—there’s no risk of a “corralito”-style freeze

Thanks for posting about these companies. I never knew they existed. It's hard to believe people trust them in Argentina. Anyone know how much these companies charge for a box?