So It probably came around in the 1700's when financial institutions were found in populated areas. As I write this I can say that I have never studied the history of banking. I'm sure they were around in ancient times of Mesopotamia and Egypt.
Safe deposit boxes have evolved into a small secure compartment that you can rent from your local bank or credit union. They are the most secure and provide the best security for your valuables. If you have rare coins, jewellery, gold, silver, documents sitting around then I highly recommend a safe deposit box.
Safe deposit boxes are located in the bank's vault. There is no master key to your box. You are the only person with the key to your specific box. The bank carries a prepatory key which is required for the dual custody presence when opening. But you are the only one with a key.
Safe deposit boxes are made of 1/2" plate steel and are secured with a pretty solid cast and brass dual custody lock. My favourite way to open them is to strategically drill and pick it open. With a small repair nothing is damaged. So called professional companies go in with a screw and crowbar causing unnecessary damage.
So it is inevitable that people loose their sd key sometimes and the services of a locksmith are required. That's me! I have worked on safe deposit boxes for 25 years and consider myself well knowledged in this field. Over my time I have seen and experienced some interesting moments when it comes to safe deposit boxes and now I share with you some of those.
Once upon a time I was called to open a box and when I opened it and handed the tinslide over to the customer they screamed in horror. Their jewellery was missing and proceeded to call her husband to say the locksmith must of stolen the items with smoke and mirrors I suppose. Turned out the bank had me drill open the wrong box.
I remember opening an estate sd box with a lawyer present and a lot of items were documented including hockey cards such as Bobby Orr, Wayne Gretzky, Gordie Howe etc.
I have opened sd boxes only to find the spare key inside. Or a paper clip.
Years ago I refurbished nests of sd boxes and one time in Windsor I was painting the vault after hours. I could hear sirens getting louder and louder so I stepped out of the vault to have a look. In the ATM foyer was the Windsor fire department ready to break in. This had all come about because someone using the ATM called 911 concerned about the paint fumes.
As far as I know I have never heard of a theft from a safe deposit box. It would be extremely difficult given the branch protocol and physical barriers.
Hollywood movies make it seem possible but in reality a safe deposit box is a sure thing for security.
Be sure. Keep it secure.