Old Data on Bank systems

msaquib

Hi,

Last week I went into Lloyds TSB branch to open a Current Account. Everything went fine but I was abit superised when the bank clerk input my postcode and my old details appeared for an account which I closed in June 2000. It was an cheque account with TSB Bank.

I thought the data are only kept on the banking computers for 6 years. I closed my account over 6 years know, shouldn't the data be removed?

Thanks
M

Snaggles

Hiya - different types of information are required to be kept for different lengths of time. I can't remember any of the exact timescales, but I believe some information is kept for 25 years or more. Transactions are possibly only kept on the computer systems for 6 years, but may be stored on microfiche going back further than this. Account information is almost certainly kept for much longer than 6 years though.

natweststaffmember

Am not sure where the 6 year rule came from apart from just cause and statute of Limitations. NatWest hold data back to 1992.

jonesMUFCforever

If the old account was closed off as a bad debt then it would still show on the bank's records even though it would probably have dropped off any credit agency record.