HSBC Statement Request

natweststaffmember

never-in-doubt wrote: »

See edited post above:

I know what you;re saying, its one of those unwritten agreements kinda like the CRA's keeping data for a fair period of time, they have all declared 6yrs as this is the maximum allowed time (ICO/DPA) so they pick that even though it isn't entirely fair. Like the maximum charge for a SAR is £10 - they all charge it, but could if they wanted charge nothing or £2!

I guess as a result they use it for statements as well, i.e. retain for 6yrs (maximum time limit to classify as 'fair period of time not exceeding 6yrs'), but reading through google it appears banks keep them forever (electronically).......

I need to clarify something that the fee for a Subject Access Request is within the Data Protection Act. To clarify the DPA does not set out a timeframe whatsoever.

Barclaysmanager, I am crap with multiquotes(always been the same), is there a link to HMRC rules on this?

olly300

natweststaffmember wrote: »

I need to clarify something that the fee for a Subject Access Request is within the Data Protection Act. To clarify the DPA does not set out a timeframe whatsoever.

Barclaysmanager, I am crap with multiquotes(always been the same), is there a link to HMRC rules on this?

For the fee information for a Data Subject Access Request go to the Information Commissioners website and do a search for a "Data Subject Access Request" https://www.ico.gov.uk

The Information commissioner has a couple of online leaflets about this. If you still have problems ring their helpline they are very helpful.

For information that is understandable from HMRC your best bet is to go to sites like business link or accountancy web. (Use google) Unless you know the exact thing you are looking for on the HMRC site it is a nightmare to use.

never-in-doubt

natweststaffmember wrote: »

I need to clarify something that the fee for a Subject Access Request is within the Data Protection Act. To clarify the DPA does not set out a timeframe whatsoever.

Barclaysmanager, I am crap with multiquotes(always been the same), is there a link to HMRC rules on this?

The DPA does set timelines in that data cannot be recorded for any longer than 6yrs. I quoted this in last post. The fee also relates to a maximum charge, my point is that the maximum is £10 so they charge £10. They could if they wanted charge less, it is not compulsary that you pay £10 but everyone charges it.

My point and link with respect to this is that the DPA stipulates 6yrs is the maximum length of time to retain personal data and as such the CRA's take this to mean they can hold financial (past & present) data about you for 6yrs. If they could, they would allow it to remain indefinitely and this is where the ICO & DPA work in conjunction to maximise it to 6yrs to stop abuse and unecessary processing of data.

Why do you need quotes, we know 6yrs is the maximum legal timeframe but each lender may retain more if they want to. They cannot publish anything older than 6yrs old this is where the ICO and DPA come in, but they can keep it internally for eternity if they want. Banks would also be restrained by the FSA Regulations which stipulate 6yrs.

quote: (http://www.ico.gov.uk/global/faqs/data_protection_for_organisations.aspx#f2642022B-8A14-4897-90ED-AD7019C0F812)

Q: How long should organisations keep data for? The Data Protection Act says that information should be kept for no longer than is necessary. The Act does not specify what a ‘necessary’ period should be for particular information. Each case would be considered on its own merits. If an organisation is obliged to retain data for a given length of time under any other laws, this should be taken into consideration.
For example, financial institutes may have to keep some information for up to six years in accordance with the Financial Services Authority regulations. A sole trader, however, may not need to keep information for longer than a month.

natweststaffmember

olly300 wrote: »

For the fee information for a Data Subject Access Request go to the Information Commissioners website and do a search for a "Data Subject Access Request" www.ico.gov.uk

The Information commissioner has a couple of online leaflets about this. If you still have problems ring their helpline they are very helpful.

For information that is understandable from HMRC your best bet is to go to sites like business link or accountancy web. (Use google) Unless you know the exact thing you are looking for on the HMRC site it is a nightmare to use.

I am talking about this 6 year rule which is NOT within the Data Protection Act 1998 however the statutory fee is. Am I coming across as a complete dumbass, lol?
I just want the black and white 6 years for HMRC for storing or retention of data or 6 year rule retention of data and sources of why it is 6 years and not say 8 years or 3 years, for example.
Before anyone asks, I have an unanswered email of almost 4 weeks in relation to the specifics to NatWest Bank. I added some additional information which is about destruction of data in relation to bank charges cases specifically.

natweststaffmember

never-in-doubt wrote: »

The DPA does set timelines in that data cannot be recorded for any longer than 6yrs. I quoted this in last post.(link to Data Protection Act 1998 and specifically where in the Act? Link to the ICO is not the Data Protection Act 1998). The fee also relates to a maximum charge, my point is that the maximum is £10 so they charge £10. They could if they wanted charge less, it is not compulsary that you pay £10 but everyone charges it.

My point and link with respect to this is that the DPA stipulates 6yrs is the maximum length of time to retain personal data and as such the CRA's take this to mean they can hold financial (past & present) data about you for 6yrs. If they could, they would allow it to remain indefinitely and this is where the ICO & DPA work in conjunction to maximise it to 6yrs to stop abuse and unecessary processing of data.

Why do you need quotes, we know 6yrs is the maximum legal timeframe but each lender may retain more if they want to. They cannot publish anything older than 6yrs old this is where the ICO and DPA come in, but they can keep it internally for eternity if they want. Banks would also be restrained by the FSA Regulations which stipulate 6yrs.

quote:
Q: How long should organisations keep data for? The Data Protection Act says that information should be kept for no longer than is necessary. The Act does not specify what a ‘necessary’ period should be for particular information. Each case would be considered on its own merits. If an organisation is obliged to retain data for a given length of time under any other laws, this should be taken into consideration.
For example, financial institutes may have to keep some information for up to six years in accordance with the Financial Services Authority regulations. A sole trader, however, may not need to keep information for longer than a month.

!!!!!!, the Data Protection Act does not give a timeline of how long that data can be kept. There is no timeline within the DPA 1998.
However, FSA Regulatons is another place I will have a look at. Interesting.....however on the info I want unfortunately it was them that wrote to the FI's in relation to destruction of data over 6 years. Darn it.

never-in-doubt

natweststaffmember wrote: »

!!!!!!, the Data Protection Act does not give a timeline of how long that data can be kept. There is no timeline within the DPA 1998.
However, FSA Regulatons is another place I will have a look at. Interesting.....however on the info I want unfortunately it was them that wrote to the FI's in relation to destruction of data over 6 years. Darn it.

I know what you're saying but you are missing what I am saying. The DPA does state that data cannot be held longer than is necessary so long as the account is open/processed fairly and in accordance with the main principles. Therefore, you won;t get a black and white answer - its an unwritten rule that most stick to.

They use words like 'no longer than necessary' and 'based on their own merits' - the reason is because so many different acts conflict with each other it'd be impossible. 6yrs is the norm but not confirmed in black and white.

You need to specifically check the FSA as I mentioned. This is relevant to your question.

Extant

natweststaffmember wrote: »

I need to clarify something that the fee for a Subject Access Request is within the Data Protection Act. To clarify the DPA does not set out a timeframe whatsoever.

Barclaysmanager, I am crap with multiquotes(always been the same), is there a link to HMRC rules on this?

Yes.

http://www.hmrc.gov.uk/ct/keeping-records/record-keeping.htm