The black shackle part inserts into two holes on the top of the box, and there is a very small gap all the way around both holes when the shackle is inserted. Water is DEFINITELY going to get in there if it is exposed to rain/snow. You can use it without the shackle (if you want to screw it to a fence from the inside), but then the two quarter inch wide holes are not covered or sealed in any way, and water is DEFINITELY going to get inside the box. Otherwise, it is well made and easy to use - just don't use it if you truly need it to be weatherproof. I screwed it to a fence without the shackle and used silicone to seal the two holes.
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