How long should (do) you keep old Bank statements etc?

William Powell

Just started an annual sort out of papers and I'm chucking out stuff I don't need. I tend to chuck out anything more than a year old but my wife hangs on to bank statements, pay slips and utility bills for years and years, is there any sencible advice anyone wants to give as to what to keep for how long and what to bin?

broker2008

I used to keep all paper bills for years waiting for the day that I would need to refer to them. I now scan or keep pdfs and keep them in a folder on my pc which is backed up. The other side is I know plenty of people that don't even open the envelopes and chuck them in the bin !

Rebel1977

I used keep them for two years, but with e-statements now you dont have the paper element anymore so its more convenient.

Toboldlygo

Rebel1977 wrote: »

I used keep them for two years, but with e-statements now you dont have the paper element anymore so its more convenient.

Banks are obliged to keep records for six years which I think relates to the statute of limitation for legal contracts in Ireland.

http://en.wikipedia.org/wiki/Statute_of_Limitations_in_Ireland

So even if you destroy your statements, your bank could replace them......at a cost of course.

Rebel1977

Your right Banks do keep them on file but I think charge, depending on the bank is something like €2.00 per page, which is a lot of you have a lot of statements and activity on your account.

Ms. Chanandler Bong

Toboldlygo wrote: »

Banks are obliged to keep records for six years which I think relates to the statute of limitation for legal contracts in Ireland.

http://en.wikipedia.org/wiki/Statute_of_Limitations_in_Ireland

So even if you destroy your statements, your bank could replace them......at a cost of course.

I remember someone writing to Ray D'arcy about this... she needed a shedload of past statements for a mortgage application IIRC & contacted her bank for them. They charge you for copying each page, something like say €1 for page 1 & 50c for each page after. This applies to each statement you need so, going on figures above (which are completely made up, I have no idea how much it is!;)), if you ask for 3 statements of 3 pages each, it would cost you €6.

Point to note: if you do scan your bank statements, it'll do you no good for a mortgage application. They have to be originals (I remember being outraged at the fact that they would charge you so much for something they say you need when the only way you have of getting a copy is through them!!!:mad:

Rebel1977

Friend of mine printed his internet banking statement thinking it would do for a car loan but they would not accept, had to order copies of his statements, bit of a rip off.

William Powell

Well I actually kept bank statements for two years back, previously I had them back to 1997. ESB, Phone and Credit Card statements I've only kept last years, previously I had them back to 2004. Also been through insurance folders and kept the single page statements of insurance going back 5 years for car and home insurance (don't know why but thats not much paper), plus of course kept all the current insurance documents. So as I don't have a shreder the woodburning stove has a new job to do