Banks holding ex customers data

starM

Hi,

Any idea how long a bank can hold a ex customers data?

Just asking beacuse I had an account with LTSB which was closed around July 2000 (nearly 10 yrs ago). I went into LTSB to open up an account and they still had my details on the system. Account was opened fine.

Thanks
MS

stclair

I dont think theres any set limit to be honest.

I know natwest/rbs keep there data for 10 years if not more.

7sefton

When I tried to open a Lloyds TSB current account last year they still had my details on their system... from when I had a kids TSB passbook savings account. This must have been from about 15 years ago because LTSB (as it is now called) don't issue passbooks any more, and haven't done for years.

scottishblondie

The Data Protection Act says "information should be kept for no longer than is necessary", but doesn't actually specify how long "necessary" is. Each case is assessed on it's own merits, apparently. Financial organisations are supposed to keep data for 6 years under FSA rules, but past that there aren't any definite rules.

I think if you feel data is being held past the point of "necessary" you can complain to the Information Commissioner's Office and they will investigate.