What a bank locker is
A locker is rented space inside the bank’s vault. The bank controls the vault and you control the box.
The locker agreement makes the bank a lessor and you a lessee, not a banker and a customer. The contents stay yours, they earn nothing, and you pay rent instead of keeping a balance.
A Traditional Locker uses two keys turned together. One is the bank’s master key and one is yours. Neither key opens the box alone.
A digital locker works the other way round. Both of its keys are handed to you. Your debit card, fingerprint and PIN are what bring the locker to the terminal. If a key is lost or damaged, lock replacement charges apply under the Schedule of Charges.
The bank does not know what is inside your box, and it records every visit you make.
Who can rent a locker at Allied Bank
Lockers are allotted only to account holders. Your account has to be operative and satisfactory, and it can be at any Allied Bank branch. (Link: https://www.abl.com/how-to-open-bank-account-in-pakistan/)
- You can hold more than one locker.
- There is no limit on the number of joint holders on a Traditional Locker.
- Organisations can rent one too, including sole proprietors, partnerships, companies, trusts, societies, clubs and NGOs.
- A visually impaired customer gets the locker on the same terms, with a designated person to assist at each visit.
Some cases are ruled out. A locker is not allotted to a non-account holder, a minor or a bankrupt. It is also not linked to a foreign currency account, a loan account, or an account whose product terms do not allow it.
One detail is worth knowing. If your linked account later turns dormant, the locker still works, as long as the rent is not overdue. (Link when live: dormant post)
Allied Digital Lockers differ here. They are issued in a single name only, and cannot be held jointly.
The four sizes
| Size | Details |
|---|---|
| Small | Dimension: Up to 0.40 cft Available as a digital locker: Yes |
| Medium | Dimension: 0.41 to 1.35 cft, in two bands Available as a digital locker: Yes |
| Large | Dimension: 1.36 to 2.00 cft, in two bands Available as a digital locker: Yes |
| Extra Large | Dimension: 2.01 to 3.00 cft, in two bands Available as a digital locker: No |
Rent rises with size, and the branch allots from whatever its vault has free. A digital locker also has a weight limit, currently 25 kg.
Two ways to pay for a locker
You choose one at issuance. The amounts sit in the Schedule of Charges, which the bank revises from time to time.
Annual advance rent. The rent is charged a year ahead and recovered from your linked account. Federal Excise Duty applies on it. You also pay a refundable key security deposit.
The recovery differs by locker type. On a Traditional Locker it is automatic. On a digital locker the branch recovers the rent and the duty from the same account.
Security deposit. You place a deposit instead of paying rent each year. It stays fixed for five years, whatever happens to the Schedule of Charges in between. It includes the key security deposit, and it comes back to you when you surrender the locker.
One point surprises savers. The bank pays no profit on the security deposit.
The contract runs for a year against annual rent, and five years against a security deposit. It renews automatically after that.
What the bank's cover includes
Allied Bank arranges insurance cover on locker contents at its own cost. The cover is for damage, destruction or loss by fire, burglary and locker breaking. It also covers vandalism of the locker by the bank’s own guards or employees.
How much the cover can pay depends on the size you rent:
| Locker size | Maximum loss coverage |
|---|---|
| Small | Rs 3,000,000 |
| Medium | Rs 4,000,000 |
| Large | Rs 5,000,000 |
| Extra Large | Rs 6,000,000 |
The cover follows the insurance policy’s own terms. And cash kept in a locker sits outside it.
of what the box holds, with photographs, stored somewhere other than the locker. Then choose a size that matches what you need covered, not only what fits.
Allied Digital Lockers: the vault that works at midnight
Allied Bank describes Allied Digital Lockers as Pakistan’s first automated robotic lockers. The locker room is staff-free and open 24 hours a day, 365 days a year.
Here is what happens when you walk in:
There is no queue, no appointment and no staff in the room. The security around that convenience is layered on purpose:
you need an Allied Bank account at any branch, with a valid active debit card. Your customer profile must also be verified biometrically, which is required before a digital locker is issued. If it is not verified yet, the branch does that first.
You then submit the locker application form and set your own PIN at the terminal. Both keys of the box are handed to you.
These are a lost, damaged or expired debit card, a forgotten PIN, and a fingerprint the machine can no longer read. You request it in writing at the branch, and it takes about one working day.
Traditional Locker or digital locker
| Aspect | Traditional Locker vs Allied Digital Locker |
|---|---|
| When you can visit | Traditional Locker: Branch hours Allied Digital Locker: 24 hours, 365 days |
| Who lets you in | Traditional Locker: Locker officer with the master key Allied Digital Locker: Automated terminal, no staff |
| How you open it | Traditional Locker: Master key plus your key Allied Digital Locker: Debit card, fingerprint and PIN, plus the keys you hold |
| Who can hold it | Traditional Locker: Single or joint, with no limit on joint holders Allied Digital Locker: Single name only |
| Can someone else operate it | Traditional Locker: Yes, on a separate locker mandate Allied Digital Locker: No |
| Sizes | Traditional Locker: Small to Extra Large Allied Digital Locker: Small, Medium, Large |
| Where it is | Traditional Locker: Branches with vault space Allied Digital Locker: DHA Phase VI Lahore, Zamzama Karachi, F-8 Markaz Islamabad |
| Record of your visit | Traditional Locker: Signed locker operation register Allied Digital Locker: System access log |
How access works at a Traditional Locker
Knowing the routine makes the first visit comfortable.
Two rules sit behind that routine.
The biometric step uses the same discipline that guards account opening.
The bank holds no duplicate of it. If you lose it, tell the branch in writing at once. The lock is then replaced, and the cost is yours under the Schedule of Charges. Never have your own duplicate made, and never hand the key to anyone you have not authorised.
Letting someone else operate the locker
You can authorise another person to operate the locker. That is a separate mandate, given on the bank’s own form. A mandate on your account does not carry over to your locker.
The person you name does not need an account with Allied Bank. One limit is worth knowing. A mandate holder can operate the locker, but cannot surrender it.
Digital lockers take no mandate at all. Only the holder can use one.
If the rent falls behind
Rent is recovered from your linked account on the due date, along with Federal Excise Duty. If the balance is short, the bank takes what is there and the rest becomes overdue.
From that point:
- Late payment charges apply under the Schedule of Charges.
- Locker operation is refused until the overdue amount is cleared in full.
- The bank can hold the contents as security until all dues are paid.
- Rent left unpaid for a year or more leads to break opening of the locker.
A break opening is carried out by bank officers, with a notary public or a practising lawyer present. The contents are catalogued, and the cost falls on the holder. Digital lockers get a first reminder and a final reminder before that stage.
None of this is common, and all of it is avoidable. Keep enough balance in the linked account on the renewal date.
Giving up the locker
You can surrender a locker at any time, without notice. All holders come to the branch in person and sign the surrender application. You empty the box and hand back the key.
Three points catch people out:
- Rent already paid for the rest of the contract year is not refunded.
- A security deposit comes back to you after any dues are adjusted.
- A mandate holder cannot surrender the locker, whatever the account mandate says.
For a digital locker, either side may end the lease with fifteen days of written notice.
What belongs in a locker, and what does not
Good candidates:
A locker must not be used for anything destructive, harmful, perishable, combustible or explosive. It must not hold anything the law prohibits.
Two more are poor choices.
The bank’s cover excludes it, it earns nothing, and it sits outside deposit protection. Money in an account is protected, productive and provable. Money in a locker is none of those things.
If the holder dies
The lease ends on the holder’s death. For a digital locker, the agreement releases the contents against a succession certificate. For a Traditional Locker, the bank follows its procedure for deceased holders. The heirs approach the branch with the death certificate and the succession documents.
Joint lockers work the same way in one respect. Once the bank records any holder as deceased, it blocks operation of that locker. The survivors then follow the same procedure.
Two habits make this kind instead of hard. Tell one trusted person that the locker exists, and keep the papers where they can find them. An unknown locker can take years to surface.
What this means for you
A locker is cheap protection against a loss you cannot replace. You get vault space, verified access, cover up to a set limit and a recorded trail. At three branches, you also get a robotic room that serves you around the clock.
Choose between annual rent and a security deposit with your branch. Then keep your contact details current, and visit once in a while.
Next step: ask your branch about locker availability and sizes, or visit the Allied Digital Lockers page for the designated branches.
Frequently Asked Questions
Q. Who can rent a bank locker at Allied Bank?
Account holders only, with an operative and satisfactory account at any Allied Bank branch. Lockers are not allotted to non-account holders, minors or bankrupts. They are also not linked to foreign currency accounts or loan accounts.
Q. How do you pay for a bank locker?
You choose one of two options at issuance. Either annual advance rent, recovered from your linked account with Federal Excise Duty, or a security deposit fixed for five years. Both amounts are set in the Schedule of Charges, and no profit is paid on the deposit.
Q. Are locker contents insured?
Allied Bank arranges insurance cover at its own cost against fire, burglary, locker breaking and vandalism by its own staff. The maximum rises with locker size. Cash is outside the cover, and the insurance policy's own terms apply.
Q. What happens if I lose my locker key?
Tell the branch in writing at once. The bank holds no duplicate, so the lock is replaced, and the cost is charged to you under the Schedule of Charges. On a digital locker you hold both keys, and the same replacement charges apply. Report a lost debit card immediately too.
Q. Can a bank locker be held jointly?
A Traditional Locker can, and there is no limit on the number of joint holders. An Allied Digital Locker cannot, because it is issued in a single name only.
Q. What happens if I do not pay the locker rent?
Late payment charges apply, and locker operation is refused until the overdue amount is cleared. Rent left unpaid for a year or more leads to break opening of the locker, at the holder's cost.
Q. How do Allied Digital Lockers work?
They are automated robotic lockers with 24/7 staff-free access. You enter the room with your debit card. At the terminal you insert the card, verify your fingerprint and enter your PIN. Your locker is presented automatically, and you press Deposit to store it away.
Q. Where are Allied Digital Lockers available?
At three branches today. These are DHA Phase VI Branch in Lahore, Zamzama Branch in Karachi and F-8 Markaz Branch in Islamabad, per the product page.