Have you ever noticed how annual fees drain your finances when you’re not looking? It isn’t a nice feeling. Most of our team here at Biovault Family are parents and we know that when your eye is on your baby, toddler (or teenager for that matter) there isn’t always time to read every contract and check every bank statement.
Our storage fees
We do provide the option of annual storage fees but very few our customers choose this. Instead, they opt for fully inclusive collection, processing and storage for 25 or 50 years. At the end of this period, we’ll get in touch and you can decide whether you’d like us to continue our care of your cells, or not.
Ethical cord blood banking
Not only do you pay less this way, but you secure peace of mind for 25-50 years without having to do (or pay) a thing. We pride ourselves on being the UK’s ethical cord blood bank because we are able to guarantee the security of families’ cells and fees.We are the only stem cell banking company to offer this fully inclusive service and the only cord blood bank in the UK to use Escrow protection.
When you choose our fully inclusive collection, processing and storage for 25 or 50 years your money is protected in an Escrow protected account. Fees are released from this account to us each year to cover the costs of stem cell cryopreservation. So, in the unlikely event that something were to happen to Biovault Family, neither your cells nor money would be in danger.
By choosing our fully inclusive service, you pay less, with a a saving of up to 33%. The cost for our 25 year storage plan is £2450 and for 50 years it is £3850.
If you move to another country, you do not have to remember to pay the annual storage fee as you have already done so.
If anything happens to you, your children’s stems cells are still safe, and ready to use if needed, anywhere in the world. You don’t have to worry about your child paying annual storage costs.
The hidden cost of cord blood banking
At first glance, banking with Biovault Family may look expensive compared to the UK’s other cord blood banks. If you look more closely though, those annual fees add up. Here are the real costs of cord blood collection, processing and 25 years’ storage with some of the UK’s providers:
Cord Blood Banking costs:
- Bank 1: £1,495 + (£65 x 25 years) = £3,120
- Bank 2: £1,600 + (£50 x 24 years) = £2,800
- Bank 3: £1,995 + (£65 x 24 years) = £3,555
- Biovault Family: £1,950
Cord Blood and Tissue Banking costs:
- Bank 1: £2,640 + (£65 x 25 years) = £4,265
- Bank 2: £2,545 + (£100 x 24 years) = £4,945
- Bank 3: £2,195 + (£100 x 24 years) = £4,595
- Biovault Family: £2,450
And that’s not all. Whilst some banks promise not to increase annual fees for existing customers, others admit that prices may go up with inflation during the storage period – so parents don’t know what the final cost will be when they sign up.
5 questions to ask before choosing a cord blood bank
We welcome questions and encourage expectant parents to compare the UK’s cord blood banks before making the right chance for their family; after all, you are entering into a relationship that could be a lifeline for your loved ones. We also suggest that you consult the Human Tissue Authority, who license and regulate cord blood and tissue banking.There are many things to take into consideration, but when it comes to finances, we recommend that you ask these three questions:
- Can the annual storage fee go up during the contracted storage period?
- What would happen to my money and stem cells if something happens to your business?
- At the end of my contracted storage period, what will I pay if I want to continue to store my cells with you?
- Is there any charge if I decide to transfer my cells to another facility?
- If I need my cells for treatment, is there any cost to release them?
We hope this has been useful. If you would like to read more about our services, please click here.
To find out which illnesses can be treated with cord blood stem cells, please click here.