Edinburgh’s first privately owned safe deposit box service has opened - and you can buy gold bullion on site to keep in it.
Edinburgh Safe Deposit operators Seamus Fahy and David Walsh have invested £1 million to equip the vault with surveillance technology including seismic shock sensors, 24/7 monitoring and biometric identification.
It is targeted at people with piles of cash, jewellery and heirlooms to protect. It will also operate alongside Scottish Bullion at the site where investors will be able to buy, sell and store gold from as little as £80.
Seamus Fahy said: “We have decided to launch in the Scottish capital as we believe people across the city and beyond will benefit from having somewhere as secure as Edinburgh Safe Deposit to store their valuables. Our service will provide peace of mind to residents, particularly with Edinburgh being the part of Scotland that suffers from most break-ins.”
Parent company Merrion Vaults opened Glasgow Vaults in 2016 and has operations in England and Ireland. Customers typically store cash, jewellery, family heirlooms, gold bullion, title deeds, watch collections and passports.
The Edinburgh facility, which will employ up to 15 people, has 11 sizes of safe deposit boxes to rent from £175 a year. Clients will have unlimited access seven days a week using personal identification including biometric eye scanners, customer code and digital photo recognition.
Fahy added: “We decided to launch vaults across the UK and Ireland to fill the gap left by the move by major banks a few years ago to withdraw their service that protects people’s valuable possessions.
“Our Glasgow Vaults has proved popular since its launch four years ago, and we are confident that our Edinburgh service will be just as successful.”
