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keeping old printed bank statements?

keeping old printed bank statements?

Old Oct 29th 2020, 12:04 pm
  #1  
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Default keeping old printed bank statements?

Do you suggest I scan and retain historic bank statements as i am starting credit history from zero. I have downloaded pdf's off natwest for last 7 years. but i do have physical copies for a good 12 years. I really don't intend to carry all this paper. is it worth scanning all these? are they same as the downloaded pdf's since nowadays the pdf's contain all the necessary header info. just double checking as people have been funny in the past asking for "original" paper statements

there is also other bunch of stuff i could scan - historic mortgage/letting documents, HMRC letters etc. wonder if this huge scanning exercise has any value for doing things in canada.

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Old Nov 2nd 2020, 10:11 pm
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Default Re: keeping old printed bank statements?

I kept physical statements and even paid the extra $2/month to have them mailed before I became a canadian citizen as proof of residency, but now I have no need to document it I just go with online statements instead.
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Old Nov 2nd 2020, 11:17 pm
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Default Re: keeping old printed bank statements?

Originally Posted by CanadaJimmy View Post
I kept physical statements and even paid the extra $2/month to have them mailed before I became a canadian citizen as proof of residency, but now I have no need to document it I just go with online statements instead.
Thanks. the physical statements - were they important in any of your experiences?
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Old Nov 3rd 2020, 10:20 pm
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Default Re: keeping old printed bank statements?

I'm younger but i've never had a bank statement mailed to me. I've always used online banking for everything and archive each statement in a OneDrive folder. If something needs an official document from the bank I just pop into the branch and ask them to officiate it.
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Old Nov 3rd 2020, 10:28 pm
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Default Re: keeping old printed bank statements?

Originally Posted by Gozit View Post
I'm younger but i've never had a bank statement mailed to me. I've always used online banking for everything and archive each statement in a OneDrive folder. If something needs an official document from the bank I just pop into the branch and ask them to officiate it.
Thanks. Yeah, I guess we are in 2020 and everybody should accept pdf statements - specially because the banks put out the full information in official letter head nowadays. I am just keen to know if there is any situation where physical bank statements were requested i.e. when you're new to Canada and trying to get a mortgage. Just want to be sure before I dump all the physical statements I have.
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Old Nov 3rd 2020, 11:00 pm
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Default Re: keeping old printed bank statements?

Keep one years worth - and yes, they can be useful for helping with a mortgage.. get letters from your financial institutions too, stating you have been in good standing for the past x year(s). Also get your credit bureau - Equifax or similar - printout. See https://www.ratehub.ca/new-to-canada-mortgage section 'Alternative Credit Supporting Documentation' I'd scan the rest and then shred them unless you need to keep them for tax purposes for a business.

Last edited by Siouxie; Nov 3rd 2020 at 11:02 pm.
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Old Nov 10th 2020, 4:40 pm
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Default Re: keeping old printed bank statements?

When we left the UK, we just made sure everything was up to date (especially with any tax owed) kept one years records/statements and burnt all the rest.
Been in Canada now for some time and have never needed the statements.
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Old Nov 10th 2020, 8:30 pm
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Default Re: keeping old printed bank statements?

Originally Posted by Budgie1066 View Post
When we left the UK, we just made sure everything was up to date (especially with any tax owed) kept one years records/statements and burnt all the rest.
Been in Canada now for some time and have never needed the statements.
Many thanks for sharing your experience. that's exactly what I am planning to do.
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Old Nov 10th 2020, 8:36 pm
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Default Re: keeping old printed bank statements?

All the best
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