Opay Safebox Account 2024: Want to know how to operate the Opay Safebox account, and how to withdraw your fund?
Well, if you own an Opay account, and you don’t have full knowledge of how to save your money and how to withdraw, this article will be a good start for you.
Apart from knowing how to save in Opay, a safebox deposit account, and how to withdraw, you will also learn everything you need to know about Opay safebox deposit.
What is the meaning of a safe deposit box?
Opay safe deposit box is a box or container that is used to store valuable items at the bank or at the credit unions. These safe boxes are made of metals and are kept in a vault, which bank customers can rent for use.
Today, some banks no longer offer safe boxes again, because they feel it is no longer invoked, while some still use them.
Meanwhile, some banks have also started offering them for customers to use and store important documents such as birth certificates and tax documents.
About Opay Safe Deposit Box Account
Opay safe deposit box is a box that customers and account holders at Opay bank store and save their money so that they can withdraw same when the need arises.
How Traditional Bank Safe Deposit Box Works
How does a safe deposit box work?
- You have to acquire a safe ox for yourself, it can be big or small, depending on the valuables that you want to store there.
- When you rent the safe deposit box, the bank will give you a key, or a password, which you have to hold dearly, so that it will not get lost.
- The key, which is otherwise your password, will enable you to sign in whenever you want to carry out any transaction there.
- Some banks don’t operate with keys, in that case, you will have to use a keyless system, which can be your fingerprint
- Every time you visit the bank for anything, you have to provide an identification that you own the box.
- You also add other people and give them access to your box, but you have to be careful and ensure that they are not people who are addicted to certain things in their lives.
- However, it is really good to name someone, so that if you cannot access the box they can do that on your behave.
- Remember, if you lose your key, you will be charged, before the bank can get you a new lock.
How Does Opay Safebox Withdrawal Work?
This is how the withdrawal system of Opay safebox works:
- Set a withdrawal date on your safebox
- You can also wait for the maturity date before you can withdraw.
- You can also withdraw on the default withdrawal dates.
- March 31st, June 30th, September 30th, and December 31st, are the default withdrawal date of Opay.
- Withdraw before the set four withdrawal date, above, will attract a breaking fee or charges.
- Breaking fees are 2.5% of the withdrawal amount
- This is to encourage savings discipline and to meet savings goals faster.
How to Withdraw from a Safe Deposit box
How can I withdraw from my safe deposit box? To withdraw from your Opay safe box account is not a big challenge, it is as easy as anything that you can ever think of. To withdraw, the following steps will be taken:
Step one
- Open your Opay application
- Login to your account
Step two
On the bottom of the application, click on “Finance”.
Step three
- Click on “Safebox”
- When you click, the dashboard will open.
Step four
Click on “Withdraw”.
Step five
- Enter the withdrawal amount,
- You will be shown the breaking fee,
- Click on “Next”.
Step six
- Confirm your withdrawal,
- Input your Opay transaction pin
- Then click on withdraw.
Step seven
- Wait for your Withdrawal to process
- In the next 24 hours, your Opay balance will be credited
READ ALSO:
- How to Check Palmpay Statement of Account and Download (Updated)
- How to Acquire Opay Virtual Card in 2023 for Online Payment
Important FAQS about Opay Safebox
What can I put in a safe deposit box of a traditional bank?
What you store in the safe box of a traditional bank, are those things that you will not be in need of them often. The things that The following can be stored in a safe deposit box:
- Personal papers
- Stamp or coin collections
- Jewelry or rare collectibles
- Important contracts and business papers
- Military records and discharge papers
- School transcripts and diplomas
- The deed to your house
- Paper stock and bond certificates
- An inventory of your home’s contents,
- Hard drives and flash drives with backups
- Financially or sentimentally valuable jewelry, collectibles,
- Other documents or small items
What are the things I cannot store in a safe deposit box?
If you have a safe deposit box, you won’t be allowed to store the following documents there:
- Passports
- Medical directives
- Revocable living wills
- Emergency cash
What are the pros of using a safe document?
- There is a high level of security when you have your document in Opay safe deposit box
- When you have your documents in a safe box, they can be protected from environmental damages such as fire and flood.
- It gives you protection because it is only you who can have access to your documents and those that you may authorize.
What are the cons of using a safe document?
- There is limited access to your safe box, that is, you can access the box, when the organization is in serious business
- There is a yearly fee for the safe, which means that you have to pay for the box and its maintenance.
- If not legally documented, there is bound to be an issue in accessing the box at the demise of the box owner.
- There is no insurance that covers the documents in the safe deposit box unless you issue it.
How much can I pay as a fee for the safe deposit box?
The fee to be paid for the safe deposit box is not fixed, it depends on the size of the box. If you are using a large deposit box, then your fee will be high, but if it is a small one, then your fee will be low as well.
So, guys, this is where I draw the curtain on this post. Thanks for reading.
