How long do banks keep records?

freemo

How long do banks keep records of transactions for?

I need to find a transaction for 1993 and this would be my only way.

I spoke to Abbey a while ago and they say that they are held for 6 years, then kept on microfiche for a further 2, then destroyed - no records at all.

Does that sound right.

Don't know why, just don't trust banks!!!!

freemo

Rafter

Freemo,

6 years is the law for company records so Abbey probably have no way of helping you.

R.

jonesMUFCforever

LTSB hold statements on microfiche for 10 years, but D/D or standing order mandates are only kept for 13 months as per FSA guidelines!

Mr.Mulla

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.

As with Abbey, they may have to keep some information for up to six years in accordance with the Financial Services Authority regulations.

hippey

Although don't be suprised that some account information is kept for years, when I worked a Barclays in Wendover we found some handwritten ledgers going back 50 years! They were in a room that we never had a key for, but when we cleared out a strong room we found a key in a box and it fitted! I was amazed at all the stuff in there.

So sometimes some banks will have details stretching back many years but it aint the norm!

When I worked for the bank a lot of the branches kept 'thieir' customer records on site on microfiche and these went back for many years, I doubt thats the case now as a lot of branches have been moved / closed / rebranded but you never know!

Old_Wrinkly

If all else fails, you could try asking the Government. No doubt some security agency of theirs has it all stored somewhere .... :rotfl: