NEW YORK (AP) \u2014 You\u2019ll no longer be able to store your precious coins, jewelry and paperwork at JPMorgan Chase & Co., as the bank has stopped opening new safety deposit boxes for customers.<\/p>\n\n\n\n
A spokesman for the bank said Chase decided late last year to stop offering new deposit boxes to customers as a \u201cbusiness decision\u201d but declined to share specifics. Customers who have a box with Chase will be able to keep the box as long as the branch stays open, but they will not be able to open a new one at another location.<\/p>\n\n\n\n
Banks long stopped opening up cavernous branches with dozens of teller windows and a vault the size of a one-bedroom apartment. Reflecting the fact that customers may not enter a bank branch for months at a time, most branches are now designed to be small, with multiple ATMs, as well as breakout spaces so bankers can one-on-one interactions with customers when needed. Chase\u2019s newest branches have not vaults for some time.<\/p>\n\n\n\n