Suppose you keep gold or money in a bank locker. The question often arises: if it is stolen or destroyed in a fire, are you entitled to compensation?
To understand this, let’s look at how lockers work. When you hire a locker, the bank does not verify or certify the contents you place inside. They neither check the quantity nor issue any certificate confirming your valuables.
The agreement you sign with the bank makes this very clear. You are essentially renting a secure space—part of the bank’s property—in exchange for an annual rent (which can be revised). The bank provides only access to the locker, not insurance for the safety of its contents.
In legal terms, the bank is the lessor (owner), and you are the lessee (renter). The contract is a lease, not a guarantee of protection. This arrangement is comparable to renting a house: the landlord gives you access to the property, but is not responsible for theft, fire, or other risks affecting your belongings inside.
Therefore, unless the bank explicitly offers an insurance cover or is proven negligent, it is generally not liable for loss or damage to items kept in lockers.
