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When should I discard old bank books?

How long should I keep my old bank books?


The general rule of thumb for record retention is seven years. The IRS. has guidance on different account types, but here, it is the balance and interest in which you are interested. If you don't have needed records, your bank should, as they'll retain it in one form or another as well. The problem would be if you wanted it, you wouldn't have immediate access and you could have a fee to obtain it.

Published on BankingQuestions.com 6/07/07