closing current accounts

martinellis

does anyone know what the bank would do with all your personal info (past statements etc) if you decide to close your account. Can I or anyone else access that?

TRaven

As far as I know banks will retain the information after the account has been closed. Of course they should do so for no longer than is necessary in order to comply with the principles of the Data Protection Act. I believe access rights to that data remains the same as it would if the account was open - you have the right to access the data the hold about you and they are expected not to release that data to any other party unless permitted/required by law.

tripled

They dump it in bin bags in the middle of a roundabout.

Edit: Or at the side of a motorway...
http://news.bbc.co.uk/1/hi/england/berkshire/7182799.stm

Mike1989

martinellis wrote: »

does anyone know what the bank would do with all your personal info (past statements etc) if you decide to close your account. Can I or anyone else access that?

I did study what the data protection act said but my memory is hazy on the matter as its been two years or so since then. But I think the company can keep your data as long as it is relevant or to keep on file for marketing unless you opt out. But I can't remember the exact time frame, I think I remember a teacher at college saying they will keep our essays and work, the best of it as examples, for no more than a couple of years as not to breach the data protection act. But I think they will keep it for a while after you close the account but if you tell them on closure that you want to opt out of any future marketing or sales, then that will render the data nearly useless.

Grade_A_Reject

tripled wrote: »

They dump it in bin bags in the middle of a roundabout.

Edit: Or at the side of a motorway...
http://news.bbc.co.uk/1/hi/england/berkshire/7182799.stm

"Basically the DHL van and the box parted company at some stage during that journey." :rotfl:

masonic

Mike1989 wrote: »

But I think they will keep it for a while after you close the account but if you tell them on closure that you want to opt out of any future marketing or sales, then that will render the data nearly useless.

I believe HMRC and the FSA require them to keep records going back several years (6 years?)