Yes, There are multiple ways available to import Outlook 2016 PST file to Office 365 account, some methods also provided by Microsoft. If you find any difficulties with the manual solution, so you can try this solution to import PST to Office 365 user account – https://gallery.technet.microsoft.com/migrate-pst-to-office-365-0716e0bf , and yes Office 365 is a safe location for important business emails.
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