I don't Understand RBS applications !

stclair

RBS/Natwest generally keep there data for 10 years maybe slightly longer.

jambosans

robbo990 wrote: »

Am I not right in thinking that would be unlawful - as the Data Protection Act states that information can only be stored for a reasonable time.

Financial Institutions are required to store information for up to 6 years only . Any longer than that would be unreasonable and in breach of the Act

From the Information Commissioner's Office Website, Data Protection FAQ:-

ICO wrote:

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.

Six years is often stated, because, I believe (and the ICO Website confirms this), FSA regulations require some data to be held for up to six years - this does not imply after which point it must be deleted. Six years plus is also, coincidentally, when debts become statute-barred under the Limitations Act 1980.

There's a bunch of other links on to the ICO Website which dis-credit the "6 year DPA Myth". Short of reading the entire Data Protection Act, I'm still fairly confident in stating: financial institutions can (and as other posters have stated, do), hold customer data longer than six years. Quite a long winded way of saying, "I think you're wrong.", but I wasn't entirely sure.