You may be ready to throw them out, but you’re not sure how. Is it safe to throw away old bank statements, or do you need to shred them first? According to the Federal Trade Commission,
you should shred documents containing sensitive information, including bank statements
, to protect yourself from identity theft.
How can I get rid of old bank statements without a shredder?
- 1 – Shred Them by Hand. …
- 2 – Burn Them. …
- 3 – Add Them to Your Compost. …
- 4 – Use Multi-Cut Scissors. …
- 5 – Soak Them in Water. …
- 6 – Wait for a Local Shred Day. …
- 7 – Use a Local Paper Shredding Service.
How do I get rid of old bank statements?
If you have a paper shredder
, then take the time to shred the papers before you dispose of them. “Shredding is a great way to dispose of paper bank statements, financial documents, pre-approved credit offers or other documents that contain your personal information,” says Guild.
What is the safest way to dispose of old bank account statements?
What is the safest way to dispose of old bank account statements?
Shred them in a paper shredder
.
Is it safe to throw bank statements in the bin?
Is it safe to throw away old bank statements, or do you need to shred them first? According to the Federal Trade Commission,
you should shred documents containing sensitive information, including bank statements
, to protect yourself from identity theft.
How many years of bank statements should you keep?
Most bank statements should be kept accessible in hard copy or electronic form for
one year
, after which they can be shredded. Anything tax-related such as proof of charitable donations should be kept for at least three years.
Should I shred old utility bills?
After paying credit card or utility bills,
shred them immediately
. Also, shred sales receipts, unless related to warranties, taxes, or insurance. After one year, shred bank statements, pay stubs, and medical bills (unless you have an unresolved insurance dispute).
What papers to save and what to throw away?
- Birth certificates.
- Social Security cards.
- Marriage certificates.
- Adoption papers.
- Death certificates.
- Passports.
- Wills and living wills.
- Powers of attorney.
When can you throw away bank statements?
Most bank statements should be kept accessible in hard copy or electronic form for
one year
, after which they can be shredded. Anything tax-related such as proof of charitable donations should be kept for at least three years.
What do you keep and shred?
- Keep: tax returns. Save your returns for at least the past three years, and maybe more.
- Shred: most receipts. …
- Keep: investment records. …
- Shred: some of your junk mail. …
- Keep: pay stubs. …
- Shred: bills. …
- Keep: mortgage-related papers. …
- Shred: digital media.
Is there any reason to keep old bank statements?
Access to a record of your recent purchases, bill payments, and payroll deposits is necessary for a number of reasons, not least as a proof of payment in case of a dispute. You should
review your bank account activity regularly for evidence of identity theft and debit card fraud
.
Why is shredding not a good idea?
Paper shredders
increase security risks
. You shred your documents to prevent identity theft and maintain the confidentiality of your information. But your paper shredding machine doesn’t offer the most secure method for completely destroying confidential information. … Document destruction equipment and facilities.
Should I shred everything with my name and address?
Even if they’re old bank statements,
they should be shredded
. Your name, address, phone number and bank account information are in those statements, along with your habits, purchases and banking history. Even if the account is closed, shred it anyway.
What records need to be kept for 7 years?
Accounting Services Records
should be retained for a minimum of seven years. Accountants, being a conservative bunch, will often recommend that you keep financial statements, check registers, profit and loss statements, budgets, general ledgers, cash books and audit reports permanently.
How do I get my bank statements older than 7 years?
You can
order copies of your statements beyond
what is available online, up to 7 years ago. Your statement copy will be delivered online, free of charge. If you are an Online Banking customer, you can sign into Online Banking, and select Statements & Documents under the Accounts tab.
