Why Should I Shred My Old Bank Statements?


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Mark Westbrook answered
Two reasons and the first is just as important as the second.

Keeping your old bank statements is great up to a point and then you are only reminding yourself of financial stresses that you just don't need to keep around. The human mind is enough of a reminder!

The need to shred these properly comes from the fact that very clever identity thieves can you use your bank details to create accounts and files for your identity. All it takes to get a store card is two bills and two credit/debit cards. If you lived in a flat and someone stole even that much, they could start to wrack up terrible debts in your name and how are you going to prove that it wasn't you?

Shred all bills and all documents with your personal details on them, buy an actual shredder, you can buy them cheaply, and it will save you a fortune in the long run!

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