How long should you keep bank statements pls?

Sarahpuggy

Hi all,

Just the question above really.

Its with Lloyds Tsb and even though we have online banking, we still get paper statements but have alot from a few years ago. How long should you keep them?

Thanks.

jillie1974

i would say 6 years, as anyone who is claiming back bank charges can only do it for 6 years. but i guess its up to the individual..personally i tear them up when i check them!

mrcow

I keep mine for six years.

With Lloyds TSB online there is an option to cancel paper statements.

I've done this as

• It saves on paper
• It means I don't have to file them each month
• The search facility for Lloyds online is good anyway
• You can get paper statements sent out free of charge if ever you need them

I've never had to order any and am really glad that I opted out. You can opt back in at any time.

Sarahpuggy

thanks very much!

I wondered if there was an option to cancel it, but couldn't see it so will look again!

Thanks again

mrcow

Click to show statements and there is a pull down menu where you can opt out I think

sgx.saint

Just remember that if there is ever a problem with LTSB, or online banking and you are no longer able to access your online statements then without 'backup' paper copies you would be forced to pay money to get copies of your statements.

Just a word of advice.

Phoenix79_2

I never keep mine for more than three or four months. I check everything is in order then shred it.

kathyd_2

About 18 months ago I went through my bank statements and to my horror I discovered I'd had them going back 9 years. :eek: A little obsessive but they made interesting reading before I shredded them

mrcow

sgx.saint wrote:

Just remember that if there is ever a problem with LTSB, or online banking and you are no longer able to access your online statements then without 'backup' paper copies you would be forced to pay money to get copies of your statements.

Just a word of advice.

Who told you that?

If you opt for no paper statements, you can order them FOC from Lloyds (one copy).

sgx.saint

Who told you that?

If you opt for no paper statements, you can order them FOC from Lloyds (one copy).

No one told me. I was aware of this from past exerpience with a different bank and from speaking with other MSE members.

You may well be able to get copy statements from LTSB, but most banks charge for copy statements.

If for example you reclaim bank charges from your bank and they close your account as a result. You will no longer be able to view your account online.

With no hardcopies of your statements you are left to complete a DPA request to your branch for the past 6 years worth of statements.

My point was that, although in principal having your statements online is very useful and better for the environment, there is nothing like having a hardcopy of your own.

You never know what might happen and what you might need them for.

mrcow

[sigh]

This has nothing to do with copy statements. :rolleyes:

Stop paper statements
There are many benefits when choosing not to receive paper statements:

• free copies of your paper statements, whenever you need them
• you will help to protect the environment by saving trees
• it will cut down on your filing and having to store your old paper statements

Don't forget you can also:

• search statement entries online back to 1st July 2002
• print statements in a format similar to your paper statement
• download your statement transactions into several financial software packages

We will still pre-notify you of any account charges by letter 14 days before they are due and remind you if you haven't viewed your statement for a period of 3 months.