Managing Bank Statements

Am just wondering what everyones workflow is for managing statements. I’ve turned off all paper statements, but will have to manually trawl through all of my Bank/Card providers to get my statements.

When I had paper statements I just popped them into my SnapScan and off they went to Evernote to to filed, but just wondering if there was a service that downloaded your statements for you?

Mik

I’ve no reason to download statements frequently so i dont. However on the occasion that I’ve needed statements I’ve not had huge hurdles getting them.

Some organisations let’s me generate documents for custom date ranges so I can pull out exactly what I need. Others only do up to one year at a time which is ok. It’s rare I need to do that.

I’m curious how much longer it takes you? Paper statements need to be posted, opened, scanned, and filed. Digital statements you just need to login to the app go to statements and download, then file (if not automatically picked up)

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I think its more about if there is an issue further down the line and I need to raise a s75. For example, we had an issue with my front door and I claimed on s75 18 months after the statement. I was able to find this in an instant - I could not remember which card I’d even used.

So constantly downloading statements would be a bit of a pain on all my cards…

I suppose maybe it’s a different method of how we use cards perhaps. I don’t have many cards that I use specifically, so its easy to get to them. plus they’re on the receipt.

The banks that i use i can search as well, so if something like a s75 came up id just see the card used on the receipt and search that specific date for the transaction.

As for a solution to you’re consideration, there isnt one solution available due to what sounds like a complex set of card providers.

I know for example, that with starling you can use the API to get statements, same with barclays, amex as well i think (though you might not get access). So you could in theory make your own tool that covers your specific cards. There isnt really a tool existing that covers all credit card types

I just download my statements every month and save them to cloud storage.

I don’t bother checking or archiving my statements.

Up until a few years ago I used to go through statements once a month. But since I started using mobile apps and banks/cards with instant notifications (lack of lag of transaction info) as well as an account aggregator app my behaviour on this has changed. I now just spend a few minutes every few days looking back at recent transactions to make sure I recognise everything and I’m happy enough with that.

If I ever need a specific statement to prove something I assume I can just download from the banks website. Aren’t they obliged to provide multiple years of history?

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o99, I’m exactly the same as you regarding statements. All of our banking is done online with each account having its own phone App. I regularly check our spending via the Apps. If I were to see anything odd or suspicious, then I’d clearly do something about it immediately.

I haven’t been asked by any institution to provide a bank statement in a very long time, years in fact.

It’s funny, I’ve got a whole file of bank statements from Lloyds in a folder in my spare room from 30 years ago when I was first married. I keep them just in case a certain individual were to ever appear out of the woodwork to make any sort of financial claim.

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Thanks all - I guess I’ll stop obsessing over downloading statements then… old habits die hard!

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We’re funny us human beings. We do stuff because well, we’ve always done certain things. I no longer keep bank statements. I no longer answer my mobile phone when it rings, unless of course it’s someone in my contacts list, everyone else can just foxtrot oscar. I stopped worrying/caring about stuff like that because I realised it was pointless.

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Yep - me too!

Err - nope. They’d have to go meet my shredder :flushed::face_with_raised_eyebrow:

Years ago I used to file all my bank and credit card statements religiously. That stopped the minute I was converted to mobile banking, and I’ve never looked back.

I think you can still get NatWest/RBS statement binders if you ask. They still send paper statements in the classic RBS format and pre-punched holes

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Maybe something like MoneyDashboard (if your cards support it or one like it) would solve this? Have it aggregate your transactions and you can just search to find which card it was?

I started to download statements when my credit card stopped working unexpectedly. It turned out that they’d noticed some suspected fraudulent activity, cancelled my card, and sent a new one. But this meant that I no longer had access to old statements, because they also created a new account for me. They sent me six months worth of paper ones in the post, but, as a consequence, I now religiously download and save all of my statements.

Or when you get a situation where the app is in beta and has not been refreshed so it expires.

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I have all of my accounts set to paperless statements and just use my banks’ mobile apps or online banking should I ever need to access them (which is basically never, since most of my banking apps provide a much more user friendly transaction feed) - apart from one current account, which I still have set up to receive monthly paper statements by post, for the sole purpose of providing me with proof of address should I ever need to submit it (which frequently comes in handy). What do people who receive no paper bank statements use for proof of address? Just a utility bill, or is it acceptable to print off a PDF statement?

Why do you frequently need to prove your address? I can’t remember the last time I had to do so. Most banks allow you to order one-off paper statements even if you usually get them paperless, so if I ever need to provide proof I’ll simply do that. Or you could switch paperless off temporarily, get a paper statement then go back to paperless afterwards.

Similarly, I cannot remember the last time I had to actually provide proof of address using a bank statement. Then again, I’m no longer young, so I’m not routinely applying for loans or a mortgage. For anything else, I just show my drivers licence. If I did have to show a proof of address using a paper copy of something, a bank statement certainly wouldn’t be my first choice, I’d rather show a utility bill backed up with my drivers licence because that at least has my photo on it as well.

It’s great being middle aged. One can live life routinely quite annonymously. Not even the police can be arsed with people like me :laughing:

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This week dozens sent a statement by email as a PDF with password being your own date of birth.

It would be pretty handy if everyone did this, so you could set up an email filter and have all your statements in a folder whenever you need them.

I guess I’m just at an age where there’s a lot to apply for! Plus I only have a provisional driving licence at the moment which isn’t accepted as proof of address (unlike a full driving licence) by most companies, so I can’t just use that.

I could, but it’s much less hassle to just receive a statement once a month and pop it in a file. It takes one minute max, and costs nothing extra.