finance

[SUMAT28]

how long should i keep bank statements

[vivandorron]

I have a tendency to keep the past twelve months but the last one is really all one needs to prove what money one has/or had in the bank.

Ron.

[ladybirder]

Personal or business?

[thenry]

Depends on the level of detail you require when you come to write your memoirs.

[SUMAT28]

Personal account i have statements for the last 9 years and they are becoming a fire hazard

[ladybirder]

Oh goodness, no, the maximum I would keep is 2 years' worth. Burn or shred the rest. What about banking on line and then you can ditch paper statements altogether.

[Gizmonster]

I'm not too sure about other online banks, but with mine, they advise me to keep printed copies, 'cos they're only accessable for up to 12 months, after that, they're history.
If you're only keeping them for personal reasons, I would have thought that a couple of years would be fine.
If like me, you're self-employed, I would advise a few years longer.

[dzug2]

It depends on how long you think you'll need them. The older they are the less use they are but there is always a slim chance of something like a PPI scandal emerging that means that even years after the event they could be helpful.

I keep mine 6 years - perhaps overkill.

[VHG]

Keeping bank statements 9 years borders on hoarding.

No need to keep them past 12 months if you think about it.

Some people bank online and NEVER get a bank statement.

[dasherman]

Don't ask me why but I've got bank statements dating back to when I first opened the account which was around 1985.
I've also got 25 years of pay slips.

Probably time to invest in a shredder!

[SUMAT28]

Thanks guy,s I filed the last 3 years and burnt the rest.
Now to start on my pay slips.
By the way which is better for the planet burning or shredding.