What is a bank locker ?

Hi Friends !! I got this new book – Animal Farm written by George Orwell as a gift from my Uncle Tom. I loved it and wanted to keep it safely. My cousins always barge in my room and mess up with my mini library. I have some select few books which I love to read every time and wish to keep them safely. Dad told me that he would soon install a lock for my mini library so that nobody could mishandle my books. Now I am rest assured that my books will be safe because the lock’s key will be with me. Dad told me it is a good practice to keep all the important stuff like documents and valuables in a lock and key. He also keeps his important papers in the bank locker. I had never seen a bank locker and was inquisitive to know about it. To know more on this, I decided to meet my dear friend Nosy. I am sure he would be knowing about this. So, the very next day I decided to visit him.

Storyyogi  : Hi Nosy! How are you? I am meeting you after such a long time! I wanted to ask you about bank lockers. I heard my dad talking about it the other day and got curious. I thought if you could tell me something about it.

Nosy Mice Hi Yogi ! Yes, I am so glad to see you after so many days. Glad that you are elevating your knowledge on money matters by asking so many questions. Yes, I know what lockers in the bank are all about and will surely tell you about them.

Storyyogi : Thanks, Nosy !

Nosy Mice : Banks offer its customers the facility to keep their valuables like jewelry, important documents or other items in safe custody under lock and key in a bank locker. These lockers are rectangular or square shaped shelfs made of strong metal like steel etc. It is very difficult to break open a locker and can be opened only with 2 sets of keys. One set of the key is given to the locker holder(customer) and the second set is with the bank officer.
For e.g. When you go to a club or a resort there are swimming pools with changing rooms. These rooms have small lockers to keep your valuables like wallet and keys. These shelfs have a lock and a key and are provided for a specified time slot.
Similarly, the bank lockers also are provided to customer for a temporary period to keep their valuables.

Storyyogi : Ah! now I can imagine what a locker looks like. Next time I will go with my dad to the bank to see our locker . Will also inform my cousin Allan to open a locker in his bank. He keeps worrying about his important papers and their safety.

Nosy Mice : Yes, now I will tell you something more about lockers :

  • In a locker transaction the bank becomes the Lessor and the locker hirer (customer) becomes the Lessee.
  • The bank will need the identity and address proof of the customer applying for the locker. Like in the case of your cousin, he will have to give for e.g. the electricity bill of his house as address proof and passport or Aadhaar card as the identity proof. This will be checked by the bank and then your cousin will be allotted a locker.
  • A nominal amount (fees) based on the size of the locker will be charged as the annual rent from the customer for availing locker facility.
  • Bank lockers are very safe as there are safety cameras, emergency alarms connected to local police station and fire safety features available in the bank.
  • Locker facility in most of the banks are in high demand. In the event the bank has no empty locker they issue a token to customer who enquires to avail a locker facility and puts them on a waiting list.

Storyyogi : Wow Nosy!! You sure are aware of lot of banking facilities .

Nosy Mice : You are always welcome my friend. Now I will quickly tell you about some information on how locker is operated:

  • The locker hirer (customer) is provided with the locker keys and second set of keys are with the bank official. So, when the locker hirer goes to the bank to operate the locker, in the locker room he/she will be accompanied by a bank official to open the locker.
  • Bank officer will verify the customer identity in the locker register. This register has the photo, signature and all other details of the customer availing the locker facility.
  • Post verifying the customers credentials (details like name, documents submitted etc.) the bank official will use his keys and the customer will use his keys to open the locker .
  • After this, the Bank officer exits from the locker room and gives the customer privacy to complete the transaction.
  • On completion of the transaction the customer closes the locker and exits the locker room .
  • Also, one very important thing about lockers is that the bank never has knowledge of what the customer keeps inside his locker.

Storyyogi  : Great! I am enlightened today with a new topic on safety of my possessions in the bank. All this while I was thinking the bank only keeps my money safe but now, I know it keeps my valuables also safely. Thanks, Nosy. As always you have made me more aware of money matters.

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