If you’re pregnant, you’ve probably heard of cord blood banking—the process of saving your baby’s umbilical cord blood for potential use in the future.

But what does the process entail? Is it right for you and your family? We’ve turned to the experts to help expecting parents understand more about cord blood banking.

Ryan Daly is the Content Marketing Director for Consumer Affairs, a news and advocacy organization that helps consumers make informed decisions.

“The decision to bank or not to bank your baby’s umbilical cord blood and whether to use a public or private bank are deeply personal,” said Daly. “Expecting moms should weigh the costs and potential benefits.”

In an effort to help parents with the decision, Daly recently created an informational video, seen below.

Cord Blood Banking: What expecting parents should know about the collection process from ConsumerAffairs on Vimeo.

Pre-Delivery

According to Consumer Affairs, cord blood is rich in stem cells, which have the potential to be used for life-saving treatments down the road should a child or his or her siblings become ill.

If you think you might be interested in banking your baby’s cord blood, the first step is to select a public or private facility where you’ll bank the blood.

Let your obstetrician or midwife know of your plan by the 34^th week of pregnancy, in case of an early delivery.

Once you’ve made arrangements with the facility of your choice to bank your baby’s blood, they’ll send you a kit in the mail. Pack this kit in your overnight bag for when you head to the hospital for delivery.

Post-Delivery

After you’ve delivered your baby, the cord banking process will begin. Daly says there are many misconceptions about the process, which in reality only takes about five minutes.

“If the actual banking process is what is holding you back, it shouldn’t,” Daly said. “Although it sounds intimidating, the whole thing is painless and relatively quick for you and baby.”

The process involves using a needle to collect about two ounces of blood from the umbilical cord after it has been cut and cleaned. Doctors will also extract a small amount of blood from the mother.

Then, the blood is secured in the kit and transported to your selected blood bank, where it will be tested for any diseases, frozen and saved for later access.

One of the main objections to cord blood banking is the cost; it typically comes with an initial fee of between $1,000 and $2,000, along with an annual storage fee which varies based on provider.

According to the National Cord Blood Program, cord blood can be used in the treatment of leukemia, immune diseases, lymphoma, myelodysplasia and severe aplastic anemia, among other conditions.

The National Marrow Donor Program advises properly stored cord blood should be good for approximately ten years.

For more information and a list of resources on cord blood banking, visit Consumer Affairs here.