Bank Vault Law and Legal Definition

Bank vault is a strong room for safekeeping of valuables. A bank vault is usually located in the heart of a bank where the bank stores valuables. Generally, bank vaults contain many safe deposit boxes, teller cash drawers and other valuable assets of a bank. The purpose is to protect the valuables from theft, unauthorized use, fire, natural disasters, and other threats. Earlier strong rooms were built in the basement of a bank where the ceilings were vaulted. Vault is an arched form used to provide a space with a ceiling or roof.