6 Reasons Using a Bank Safe Deposit Box Is Actually Risky

Never keep cash in a safe deposit box

If you need cash when the bank is closed, you’re out of luck. Cash loses buying power to inflation the longer it sits. Also, cash in a box isn’t insurance protected by the FDIC. If it disappears from the box, you can’t do much. Cash can even get moldy in a dark place. Put it in a bank account or CD.