Is it OK to throw away old bank statements?

All they need is access to your old mail, credit cards, and debit cards. “Bank statements, credit card statements and other documents that contain your personal information should never be disposed of in an insecure manner,” says Debbie Guild, chief security officer at PNC Financial Services Group, Inc.

Is there any reason to keep old bank statements?

Keep them as long as needed to help with tax preparation or fraud/dispute resolution. And maintain files securely for at least seven years if you’ve used your statements to support information you’ve included in your tax return.

How do I get rid of paper bank statements?

How Can I Dispose of Old Bank Statements Without a Shredder?
  1. Pulp Them. Although it’s a labor-intensive way of disposal, pulping is the most effective way to eliminate sensitive credentials, including bank statements. …
  2. Shred Them by Hand. …
  3. Burn Them. …
  4. Shred Them During on a Public Shred Day. …
  5. Pay for a Shredding Service.

How do I dispose of bank statements without a shredder?

Take the papers to your local copy shop and let them shred it for you. This is probably the easiest way to take care of them. For example, Fedex/Kinkos will shred documents for 99 cents per pound (around 100 sheets per pound depending on paper size and thickness).

How many years of bank statements should you keep?

one year
Key Takeaways

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.