If you’ve ever searched for an old bank transaction online, chances are, you could only go back to the past couple of years. Banks actually hold onto your account info for much longer than that, though.


As Credit.com’s Jill Krasny points out, banks hold onto your info for quite a while—typically about six or seven years. According to Nessa Feddis, senior vice president of the American Bankers Association, there are no specific requirements or guidelines, but there are legitimate reasons why banks keep this information on file:

A bank would need to be able to have their records in order to investigate a dispute,” she said, and “similarly, a customer may need records if the IRS was investigating tax returns.” Think things like proof of payment and other transactions. Again, “there is no rule, but other laws, like the Fair Credit Reporting Act, make having the information important.


It’s useful to know if you ever need to look up a really old transaction or if you notice something amiss on your credit report. For more detail, head to Credit.com’s full post at the link below.

How Long Do Banks Keep My Old Account Information on File? | Credit.com