Safe Deposit Boxes. Image credit

Safe Deposit Boxes. Image credit

ZIMSEC O Level Commerce Notes: Money and Banking: Night Safe Facilities and Safe Deposit boxes

Night safe- facility

  • Safe guards money for traders who do their business during the night.
  • They lock their money in bags or wallets.
  • The bags are slotted into the bank through chutes.
  • Bank tellers deposit the money into the relevant business’s account the next day.

Safeguarding of customer’s valuables

  • Banks store valuables such as jewellery, wills, deeds and share certificates.
  • Customers obtain and pay for these services on a rental basis.

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