Keeping bank correspondence - yes or no

TheBanker

I keep paper statements for 7 years. The pile is slowly reducing now as for the last few years they have all been online. For online ones I download them and save electronic copies.

I keep credit agreements if I take out a loan or credit card, so I can be sure I am referring to the correct T&Cs if I ever need to make a complaint.

I don't keep much else.

My mum keeps everything they send including the guides to the lending code, the FSCS sheets and even random marketing stuff they send for products she's not interested in.

My dad used to keep everything but not organised or filed in any way (and sometimes he didn't even open the envelope). When he passed at least I knew where the paperwork was, but there were boxes of it going back to the 1960s, not organised or filed in any way.

Shakin_Steve

Every letter we get from Barclays is in cloud it. Don't know how long it stays there, though.

meer53

Bin everything from the bank. Credit card statements i bin once i've checked them, all others are online now. The only things i keep are insurance policies and guarantees. Whats the point in keeping them ?

Gers

Almost everything scanned to hard drive. Originals shredded / burnt. Documents backed up regularly and a second copy done too. One hard drive kept in a dry place outside the house.

My mum has been clearing out her accumulated paperwork all the way from mid 1960s onwards. I have learnt the lesson.

KxMx

book12 wrote: »

Is it worth keeping bank correspondence? Do you guys keep banking correspondence like:

• Overdrafts - letter telling you of the limit, increase/decrease limit letters
• Account opening confirmation letters with account details
• Online/mobile banking logon details and confirmation of their setup
• PIN numbers for cards
• credit cards - confirmation letter, credit limit, increase/decrease limit letters
• changes in T&Cs
• etc...

I generally keep the latest information so I have a file of items that are up to date & anything relating to the account opening. When for example a new set of T&Cs comes through the last one gets removed and gets recycled.
PIN numbers on my cards have all been changed so I don't need those.
Closure confirmation letters I usually keep.
FSCS sheets no, i can find that info online.

MABLE

Don't have to. Lloyds Bank statements online for me go back to July 2002.