Comparison: Asian Secure vs. Major Banks
|Features||Asian Secure||Bank Vaults|
|Main Vault Lock||Dynamic passcode generated and only accessible during working hours||Ordinary key and dial combination mechanism|
|Generally open Mon-Fri 8:30am-3:30pm|
|Customer Eligibility||Open to everyone; no restrictions||Require large deposit and/or purchase life insurance; |
Only for Thai residents
|Safe deposit box Availability||All sizes available immediately||Limited availability; |
Long waitlists at major branches
|Registration Process||Only valid passport or Thai ID is required||Long list of documents required|
|Contract Term||Short term (0-90 days) and Long term (1-3 years) available||One year minimum term|
|Insurance for Safe Deposit Box Contents||Available||None|
|Entry Procedure||Advanced biometric technology (access by finger scan)||Manual signing in ledger|
|Average turnaround time while using service||< 5 minutes (no queues)||30-45 minutes (must pick a queue number first)|
|Range of Services Offered||Only focused on providing one single service – safety deposit box rental||Bank accounts, loans, credit cards, & many others|
It did not seem fair to us that you had to tie up your money in a low-yielding deposit or purchase an inferior life insurance product to qualify for renting a safe deposit box – or even worse, to get on a waitlist to rent a box. It did not seem reasonable to ask for even more paperwork to open an account than the paperwork you want to put inside the box in the first place. It did not make sense for someone to waste half a day to make a trip to the vault to simply access their own personal belongings.
- Security: To ensure we are the safest place for people to keep their valuables.
- Trust: To protect our customers’ anonymity and respect their privacy.
- Convenience: To provide a hassle-free experience in an easily accessible location.