how far back do banks go in keeping records of all their transactions of the accounts of their customers??

Question

I am talking about :

deposits
withdrawels
Savings bonds
Interest earned
money transfer

I am talking about how many yars would a bank still have records. DO banks keep all their records or do they start to destroy their records when they reach a certain age.

Answer 1

Banks scan the image of their documents, including the front and back of cheques, and destroy the actual paper documents. These electronic images (and for the older documents, the microfiched images) are stored for year and years. Here's an excerpt from a bank site about people looking for old documents. Sometimes, whether to settle a dispute about a payment, people ask for proof of events which happened years ago.

• Remember that information on our regulated entities may be available as far back as 1905, the year state banks became constitutionally permissible.

The source is at the link below.