How long do banks hold records of forms etc?

[wbbs]

Regards potential ppi claim, customer has requested copies of application forms etc for mortgage which is still in force, bank says nothing is on file further back than 6 yrs, is this correct? Thought it was something like records had to be held for a term after end of relationship but this account is still active, maybe I am wrong?

Oddly enough they have been able to produce some of the documentation but not the form in dispute!

 

[Time]

Normally such forms are kept in storage at a remote location.

They will probably want to charge a silly amount to retrieve them.

 

[Optimistic]

Normally such forms are kept in storage at a remote location.

They will probably want to charge a silly amount to retrieve them.

I would like to know more info on this also as I need to get details of wire transfer 7 years ago and the bank say they don't keep records for longer than 5 years. I desperately need the records. Any thoughts and comments would be welcome.

 

[Jim2007]

One of the roles of the DPA, is to ensure that companies only keep data that is necessary for the operation of their business. Once a mortgage has been signed, there is not much need for application forms etc, it will be kept for some time at the outset, but beyond 6 years would be a bonus to my mind.

 

[Gerry Canning]

Under the Consumer Protection Code Aug 2006.
ALL individual transactions MUST be retained for 6 years after the date of the transaction. eg direct debit Jan 21st 2007 MUST be accessible to consumer until Jan 21st 2013.
The ACTUAL initial contract must be kept for 6 years from WHEN it was STARTED.
{a lot of times contracts are accessible for longer}