Tag Archives: Banking Innovations

June 5, 1865

On This Date in TWISTED-HISTORY.com! in 1865 the first safe deposit vault and boxes were opened in New York. The charge was $1.50 a year for every $1,000 that was stored. The practice of charging a fee per $1,000 was quickly discontinued when the bank’s customers and insurance company explained that this practice would tell … Continue reading

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