Resolved Question

Trying to de-clutter - How long to keep old bank statements for?

I am a part-time working mum so I am in receipt of some benefits, so how long do you think I need to keep my statements for (should there be any queries from DWP)?

What about credit card statements

Additional Details

Hi derulz, I think my bank charges for back copies of statements though, so if i want old copies I'll have to pay (if i remember correctly)

4 days ago

Best Answer - Chosen by Asker

Around two to three years. Make sure you shred them, and ideally put the shreddings in a compost bin for safe disposal.

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Other Answers (6)

• Disagree completely with previous answers.You should keep both for at least seven years. That is because of the Statute of Limitations Act, which, among other things, means you can be chased for any debt which is less than six years old. Same with queries.
  In business, we kept all bank statements and invoices for ten years. In retirement I do the same with bank statements and keep credit card statements for seven years.

  Source(s):

• I haven't received either type of statement in the mail for years. I do all my financial transactions on line. My bank allows me to go back about three years to view anything that's happened to my accounts, and I think it's an easy matter to request information from them that goes back even further than that.
  
  If you worry that the bank's Web site might somehow suddenly shut down and lose all your data, then just download and save a copy of your financial records onto your hard drive on a regular basis. There's no need to have any of those pieces of paper in your home.
• To be honest, you don't need to keep them at all.
  They are there for your reference. I look at mine, then rip them up and throw them away.
  If you ever need a statement with a list of transactions and stuff then you can request one from your bank at any time.
  No need to keep any of them.
• Most businesses keep their financial records for 7 years, but personally, I shred mine every three/four years.
  
  I think it just depends on how secure you feel about disposing of them.
• I dont even get bank statements delivered anymore - I do all my banking on line and if I need one for reference I just print it off.
• DWP have everything on file so get rid of the clutter