Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • SCUD
    • By SCUD 21st Oct 19, 5:43 PM
    • 106Posts
    • 11Thanks
    SCUD
    Piles of bank statements!
    • #1
    • 21st Oct 19, 5:43 PM
    Piles of bank statements! 21st Oct 19 at 5:43 PM
    Hi... I am not sure if this is the right area to post my question.

    I have piles of paper bank statements and credit cards statements. They are back to years ago.

    I always thought I need to have them to “prove my existence” in case something happens and to prove for example that in July 2009 I was here and here is my bank statement!

    Two years ago I started tuning down this habit or paranoia!
    So I started keeping 4 statements a year (1 from each quarter). But still I am running out of space to store them.

    I might sound crazy but how do you think I should organise that matter? Does someone really needs one day a statement which is 10 years old?

    Any tips, experience or advise would be highly appreciated.
Page 1
    • Willing2Learn
    • By Willing2Learn 21st Oct 19, 5:46 PM
    • 4,637 Posts
    • 4,186 Thanks
    Willing2Learn
    • #2
    • 21st Oct 19, 5:46 PM
    • #2
    • 21st Oct 19, 5:46 PM
    I keep all statements for six years. Once six years has lapsed, then I shred them.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • kazwookie
    • By kazwookie 21st Oct 19, 5:57 PM
    • 11,069 Posts
    • 131,106 Thanks
    kazwookie
    • #3
    • 21st Oct 19, 5:57 PM
    • #3
    • 21st Oct 19, 5:57 PM
    Do you have a scanner? if so scan them and shred.


    I keep 6 years worth, and online / paperless if I can via the bank.
    Sun, Sea

    • mgdavid
    • By mgdavid 21st Oct 19, 7:04 PM
    • 6,313 Posts
    • 5,745 Thanks
    mgdavid
    • #4
    • 21st Oct 19, 7:04 PM
    • #4
    • 21st Oct 19, 7:04 PM
    Go fully online banking, choose paperless.
    Download all statements as pdf files, store on CD / USB stick / the Cloud as you wish.
    The questions that get the best answers are the questions that give most detail....
    • IvanDP
    • By IvanDP 21st Oct 19, 8:03 PM
    • 145 Posts
    • 65 Thanks
    IvanDP
    • #5
    • 21st Oct 19, 8:03 PM
    • #5
    • 21st Oct 19, 8:03 PM
    Completely paperless here.
    I view my statements via online banking, but never download them, unless I have a need for them, which in this digital age is very rare if at all.
    • couriervanman
    • By couriervanman 21st Oct 19, 8:13 PM
    • 636 Posts
    • 1,158 Thanks
    couriervanman
    • #6
    • 21st Oct 19, 8:13 PM
    • #6
    • 21st Oct 19, 8:13 PM
    Hi... I am not sure if this is the right area to post my question.

    I have piles of paper bank statements and credit cards statements. They are back to years ago.

    I always thought I need to have them to “prove my existence” in case something happens and to prove for example that in July 2009 I was here and here is my bank statement!

    Two years ago I started tuning down this habit or paranoia!
    So I started keeping 4 statements a year (1 from each quarter). But still I am running out of space to store them.

    I might sound crazy but how do you think I should organise that matter? Does someone really needs one day a statement which is 10 years old?

    Any tips, experience or advise would be highly appreciated.
    Originally posted by SCUD
    Bin the whole lot.....most banks online statements go back years,my two banks Lloyds & Halifax go back 7 years
    • DCFC79
    • By DCFC79 21st Oct 19, 8:19 PM
    • 35,275 Posts
    • 22,259 Thanks
    DCFC79
    • #7
    • 21st Oct 19, 8:19 PM
    • #7
    • 21st Oct 19, 8:19 PM
    You haven't needed them up to this point so shred them and go paperless, all the statements are online.
    • JuicyJesus
    • By JuicyJesus 21st Oct 19, 8:53 PM
    • 3,664 Posts
    • 4,172 Thanks
    JuicyJesus
    • #8
    • 21st Oct 19, 8:53 PM
    • #8
    • 21st Oct 19, 8:53 PM
    Anything past six years is rather pointless to keep, arguably less than that even.

    I have boxes of paper statements because we need to evidence cohabitation and income for visa purposes, but then these only go back about two and a half years. Even UKVI don't care where I was six years ago.

    Unless your tax records aren't straightforward I personally wouldn't worry about, at a minimum, scanning on and then shredding anything before October 2013.
    urs sinserly,
    ~~joosy jeezus~~
    • Owain Moneysaver
    • By Owain Moneysaver 21st Oct 19, 9:27 PM
    • 10,249 Posts
    • 13,031 Thanks
    Owain Moneysaver
    • #9
    • 21st Oct 19, 9:27 PM
    • #9
    • 21st Oct 19, 9:27 PM
    Does someone really needs one day a statement which is 10 years old?
    Originally posted by SCUD
    I actually did (or it was easier that I had it). I could use a bank statement from 10 years ago, and a current bank statement, both with the same account details, to show that I was the person of my former address as named in a Will.

    Maybe the annual council tax bill would have been sufficient, and that's a lot less to keep than 12 bank statements a year.
    A kind word lasts a minute, a skelped erse is sair for a day.
    • sal_III
    • By sal_III 22nd Oct 19, 10:44 AM
    • 1,566 Posts
    • 1,465 Thanks
    sal_III
    Just reduce the current lot to 1 per quarter for just your main current account. Shred the rest. The resulting pile will hardly be bigger than a shoe box.

    If you feel extra paranoid get digital copies of the ones you shred, either directly from your online banking or via scanning (there are apps for your phone if you don't have a dedicated scanner).
    • badmemory
    • By badmemory 23rd Oct 19, 12:13 PM
    • 2,783 Posts
    • 4,427 Thanks
    badmemory
    Can't DWP & HMRC ask for 20 years? There are certainly threads on here that state that when someone has died & they have been claiming anything that was means tested the DWP has requested statements back to the date of the original claim! So take state pension at the then age of 65, die at 95 having claimed pension credit, that is 30 years.
    • meer53
    • By meer53 23rd Oct 19, 2:06 PM
    • 9,562 Posts
    • 14,007 Thanks
    meer53
    Check statements online, no point in keeping paper ones.
    • 18cc
    • By 18cc 23rd Oct 19, 2:22 PM
    • 1,880 Posts
    • 1,397 Thanks
    18cc
    If you want to keep them in none paper format then just photograph them with your smartphone camera
    • goodValue
    • By goodValue 23rd Oct 19, 3:12 PM
    • 95 Posts
    • 1 Thanks
    goodValue
    A couple of weeks ago I tried to get an online bank statement from about two years ago, and couldn't do it.
    I think the statements were only available for about 18 months.
    • Robisere
    • By Robisere 23rd Oct 19, 3:22 PM
    • 2,920 Posts
    • 4,005 Thanks
    Robisere
    I keep all statements for six years. Once six years has lapsed, then I shred them.
    Originally posted by Willing2Learn
    Me Too! And we are paperless. I download and store all statements in 2 electronic sources. I print out each one and keep for 6 years. The current tax year statements are in a current file, previous 5 years in another file. At the start of the tax year in April, I go to the previous 5 year file, remove a year and shred it. I do the same with Utility Bills, all of which are paperless. I once needed a statement from 4 years ago to prove that a debt had been paid. A photocopy of the statement, accompanied by the threat promise of legal action, was enough to get an apology and a small reward of a discount.
    I think this job really needs
    a much bigger hammer.
    • tryin
    • By tryin 23rd Oct 19, 3:28 PM
    • 209 Posts
    • 3,258 Thanks
    tryin
    I think you can request from the bank a statement from any period. I just got a letter from a bank that I switched out of, telling me that I have the right to request statements for specific time periods even though the account is closed already. I assume that must be a legal requirement if they are offering it after I closed the account.

    If this is true, then there is no need to store old statements.
    • Kernel Sanders
    • By Kernel Sanders 23rd Oct 19, 4:19 PM
    • 3,495 Posts
    • 1,427 Thanks
    Kernel Sanders
    If you or your parents were immigrants and you have never had a passport, you don't want to end up like some of the Windrush generation who were subject to deportation because they couldn't prove how long they had been in the country.
    • seatbeltnoob
    • By seatbeltnoob 23rd Oct 19, 5:33 PM
    • 733 Posts
    • 194 Thanks
    seatbeltnoob
    A multifunction printer with tray fed scanner can make mincement of piles of statements.



    I had one which would scan duplex, You put in 40-50 pages in and it would automatically feed them through and scan both sides.



    It worked brilliantly until the printer had some toner issues now the entire system (including the scanner) wouldn't work until I fixed the toner.


    A bit of a nuisance that. Buying a standalone scanner without automatic feed and scanning ability is quite expensive, they're specialist items and meant for business use only. Some of them fetch into £300 region (more than a lot of multi function printers).


    Try doing the same on a flatbat scanner. Will take all evening
    • Eco Miser
    • By Eco Miser 23rd Oct 19, 5:57 PM
    • 3,533 Posts
    • 3,305 Thanks
    Eco Miser
    I've one account that I opened in 1970, and I've got all statements for that account (proves I don't keep changing accounts). All the others are paperless now, and old statements have been shredded.

    I wouldn't trust a bank to still have statements from more than six years ago, whatever they may claim (the bank might not be around in the future). Definitely keep a copy (paper or electronic) evidencing significant purchases, gifts, (and where the money come from), changes of address etc. as mentioned above if you think there's any possibility of questions in the future, otherwise just keep the current ones.
    Eco Miser
    Saving money for well over half a century
    • enthusiasticsaver
    • By enthusiasticsaver 23rd Oct 19, 6:05 PM
    • 9,440 Posts
    • 21,879 Thanks
    enthusiasticsaver
    I would say you don't need to keep them at all. We have online statements and can get them any time we want going back as far as we would want. Some people say keep things going back 6 years but I have never needed to access them.

    Get shredding.
    Early retired in December 2017

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

197Posts Today

2,136Users online

Martin's Twitter