We banked our babies cord blood last year. Our initial cost was about $1000 and we pay an annual storage fee of $125. We opted for a private company which ensures that only our family can access it. We did not have a cord blood bank locally, so ours is banked at a facility one province west of us. We are in Canada, so not certain if costs are the same where you are.
you should definitely not base your decision on how close the bank is to you. even companies that are based in your area probably have labs somewhere else to store all of the cord blood. look for a lab that is accredited, is financially stable, and has some sort of plan of action should they ever go out of business. my personal choice was americord, check it out here http://cordadvantage.com/faq/about-americord-registry
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