Current Account Switching Service

Sealate

I had cause to write to CASS about a suggestion that I felt worthwhile.  Their reply was that they do not operate the switching service.  Their role is to advertise and give advice.  This normally means referring you to one of the switching banks. I therefore do not know who to approach with my suggestion  which is:-
The bank which you are leaving should give the option to pass on your statement history either to oneself or to the receiving bank.  The reason is having to prove something a couple of years down the line when the old bank details have been lost/forgotten.

Zanderman

Sealate said:

I had cause to write to CASS about a suggestion that I felt worthwhile.  Their reply was that they do not operate the switching service.  Their role is to advertise and give advice.  This normally means referring you to one of the switching banks. I therefore do not know who to approach with my suggestion  which is:-
The bank which you are leaving should give the option to pass on your statement history either to oneself or to the receiving bank.  The reason is having to prove something a couple of years down the line when the old bank details have been lost/forgotten.

The bank you're leaving will give you the most recent statement, and you can download the others yourself before the switch.

In other words you can do it yourself already. It's your data, you should keep it if you think you might want it.

As for the new bank doing it, your banking records are your records, it's not really the new bank's job to keep data from your old bank for you.

Sealate

Zanderman said:

Sealate said:

I had cause to write to CASS about a suggestion that I felt worthwhile.  Their reply was that they do not operate the switching service.  Their role is to advertise and give advice.  This normally means referring you to one of the switching banks. I therefore do not know who to approach with my suggestion  which is:-
The bank which you are leaving should give the option to pass on your statement history either to oneself or to the receiving bank.  The reason is having to prove something a couple of years down the line when the old bank details have been lost/forgotten.

The bank you're leaving will give you the most recent statement, and you can download the others yourself before the switch.

In other words you can do it yourself already. It's your data, you should keep it if you think you might want it.

As for the new bank doing it, your banking records are your records, it's not really the new bank's job to keep data from your old bank for you.

  Thanks.  I know all that but how many others even/ever think about future problems (death/divorce) when they are switching.  Downloading five years worth of statements, one at a time, would put most people off whereas the bank could present them as one or more files.  Much more practical and convenient. There is no access to this data once the switch is activated.

km1500

when I switched from FD they emailed me 6 years worth of statements without my asking.

Zanderman

Sealate said:

Zanderman said:

Sealate said:

I had cause to write to CASS about a suggestion that I felt worthwhile.  Their reply was that they do not operate the switching service.  Their role is to advertise and give advice.  This normally means referring you to one of the switching banks. I therefore do not know who to approach with my suggestion  which is:-
The bank which you are leaving should give the option to pass on your statement history either to oneself or to the receiving bank.  The reason is having to prove something a couple of years down the line when the old bank details have been lost/forgotten.

The bank you're leaving will give you the most recent statement, and you can download the others yourself before the switch.

In other words you can do it yourself already. It's your data, you should keep it if you think you might want it.

As for the new bank doing it, your banking records are your records, it's not really the new bank's job to keep data from your old bank for you.

  Thanks.  I know all that but how many others even/ever think about future problems (death/divorce) when they are switching.  Downloading five years worth of statements, one at a time, would put most people off whereas the bank could present them as one or more files.  Much more practical and convenient. There is no access to this data once the switch is activated.

People may not all think of doing it, but it is their problem, not the bank's problem.  Why should a bank take on the responsibility of storing your data when it has nothing to do with them (as it is a list of your transactions with another bank)? Your data is ultimately only your responsibility.  

And anyway is it really an issue?  How often do you need records from years ago?  And why for death and divorce? I've dealt with the admin on several relative's deaths recently, and have never needed their banking history, only what they have at death.   

Band7

AFAIK, all CASS banks can make up 7 years of transactions available on request. before the switch starts. I have done quite a few switches and never had a need for such details.

Band7

Zanderman said:

Sealate said:

Zanderman said:

Sealate said:

I had cause to write to CASS about a suggestion that I felt worthwhile.  Their reply was that they do not operate the switching service.  Their role is to advertise and give advice.  This normally means referring you to one of the switching banks. I therefore do not know who to approach with my suggestion  which is:-
The bank which you are leaving should give the option to pass on your statement history either to oneself or to the receiving bank.  The reason is having to prove something a couple of years down the line when the old bank details have been lost/forgotten.

The bank you're leaving will give you the most recent statement, and you can download the others yourself before the switch.

In other words you can do it yourself already. It's your data, you should keep it if you think you might want it.

As for the new bank doing it, your banking records are your records, it's not really the new bank's job to keep data from your old bank for you.

  Thanks.  I know all that but how many others even/ever think about future problems (death/divorce) when they are switching.  Downloading five years worth of statements, one at a time, would put most people off whereas the bank could present them as one or more files.  Much more practical and convenient. There is no access to this data once the switch is activated.

People may not all think of doing it, but it is their problem, not the bank's problem.  Why should a bank take on the responsibility of storing your data when it has nothing to do with them (as it is a list of your transactions with another bank)? Your data is ultimately only your responsibility.  

And anyway is it really an issue?  How often do you need records from years ago?  And why for death and divorce? I've dealt with the admin on several relative's deaths recently, and have never needed their banking history, only what they have at death.   

I can see a need when it comes to divorce, or when POA accounts are involved. Easy enough to download statements before the switch occurs, or to request a list of transactions, if such a need exists / is envisaged to potentially exist.

Sealate

Band7 said:

AFAIK, all CASS banks can make up 7 years of transactions available on request. before the switch starts. I have done quite a few switches and never had a need for such details.

Wait till the taxman starts chasing.

eskbanker

Sealate said:

Band7 said:

AFAIK, all CASS banks can make up 7 years of transactions available on request. before the switch starts. I have done quite a few switches and never had a need for such details.

Wait till the taxman starts chasing.

CASS has been in operation for over ten years, with over 10m switches - if access to old statements was a significant issue then it would have been raised and addressed long before now!  As discussed when this thread was last active a year ago, it would only be an issue for individuals careless enough not to ensure that they protect access to their bank statements (by downloading, saving/printing, etc), rather than simply expecting the bank to provide them on demand....

boingy

I was most amused by the Co-op who wrote to me after I switched away from them and said that they would send me the last x years of statements but only after I proved my ID to them. I already had all the statements so I just ignored it but I did wonder who came up with that piece of ridiculousness. They had happily sent debit cards, credit cards, PIN numbers and other stuff to me at this address so they should have a decent idea that it's really me living here.

TheBanker

If you really need statements after closing an old account, you can obtain them from the old bank. They may have a process for issuing them on request but if not simply make a Subject Access Request. 

They should only be keeping the statements for 7 years, so you may find if you make the request three years after closure, they only have the last four years of your statements to send. But even if they passed them onto the new bank, the new bank would have a similar obligation to apply a retention period, so the same problem would arise.

The suggestion from CASS to contact a bank was right. An organisation called Pay.UK operates CASS, but any changes have to be proposed by CASS members (banks). If there is support for the change from other CASS members, then Pay,UK will implement it. The member banks are not likely to support a change that will increase their operating costs and make the system more complicated for no percieved benefit so I'm afraid I don't think your idea will go anywhere.