The members - Blythe Pepino, Barney Freeman and Ben Vella - said that they were leaving on good terms, reported Digital Spy.
In a statement posted to their official Facebook page, the band said, "Dear Vaulters, it is with a heavy heart we post this today, but after much discussion we have decided to go our separate ways.
"The last few years have been equally amazing and very challenging, both on personal and professional levels. After (Caught in Still Life) was released we took some much needed time off, but when we discussed how we might go forward it became clear that the spark you need to make a band work had gone.
"Thanks from the bottom of our hearts to everyone that ever came to a gig, caught us at a festival, or bought a record, and everyone from management to label to live team that's ever worked with us. It's meant the world to us. Much love."
Vaults formed in 2013 and began releasing albums the following year. They released their debut album, Caught in Still Life, at the end of last year and featured on the "Fifty Shades of Grey" soundtrack.
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