You can toss them after balancing your checkbook if you want, But that is not always a good idea just in case you did miss some illegal activity. There is no law or set time period for you to keep your bank statement. How Long Should You Keep the Bank Statements? This way, you can see if someone is using your account without permission or if you are spending more than you should be spending.Īfter comparing records, make sure the two agree so you do not accidentally overdraw it and pay more fees. Once you receive the statement, you are to get your checkbook and compare records. The third step has the bank sending your statement to your home address or the address on file. The second step is the bank printing that information either by category or in chronological order. That means it records every deposit, every withdrawal, every check, and every ATM transaction. The first step in the process is that the bank records every transaction you make regarding the account in question. This information can be grouped by deposits or by checks and withdrawals, or it can just be a running statement of individual transactions in chronological order. In other words, it informs you of everything you have done for the previous 30 days as well as telling you how much money you have left in that account. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs.The main purpose of the bank statement is to give you an accurate account of the financial transactions you carried out that involved your bank account at a certain bank. These ads are based on your specific account relationships with us. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. If you prefer that we do not use this information, you may opt out of online behavioral advertising. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Relationship-based ads and online behavioral advertising help us do that. We strive to provide you with information about products and services you might find interesting and useful.
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