We are not aware of any limitations on fees or charges for safety deposit boxes, but your safety deposit box lease agreement should disclose your fees and charges.

Notably, if you need to report and remit a box’s contents to the State Treasurer as unclaimed property, you may not withhold fees unless they are reflected in your “regular schedule of charges” or “expressly provided for by lawful contract.”

For resources related to our guidance, please see:

• Illinois Banking Act, 205 ILCS 5/5e(b) (“The establishment of account service charges and the amounts of the charges not otherwise limited or prescribed by law is a business decision to be made by a bank according to prudent business judgment and safe and sound operating standards. . . .”)

• Uniform Disposition of Unclaimed Property Act, 765 ILCS 1025/2(d) [Repealed effective 1/1/18] (When reporting and remitting safe deposit box contents to the State Treasurer as unclaimed property, the contents are “subject to lien of the holder for reimbursement of costs incurred in the opening of a safe deposit box as determined by the holder’s regular schedule of charges.”)

• Illinois Administrative Code, 74 Ill. Adm. Code 760.30(c) (“Safe Deposit Boxes . . . . (c)  The holder may be reimbursed or may deduct actual mailing, drilling and opening costs as prescribed by Section 2(d) of the Act.  No other charges may be deducted unless otherwise authorized by law or expressly provided for by lawful contract with the owner.”)