0
Actually or Practically speaking, Forever. Banks do not destroy any of their used cheques or receipts or statements. They will be preserved forever in a safe location. There are numerous cases where confusions or court cases arise even after 10 or 15 years of a transaction and the bank is asked to provide more details. In such cases if the bank destroys its documents, the situation would become a dead-lock, one that cannot be resolved. So banks mostly retain all their artefacts.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
When must banks send interest statements for taxes?
By the end of January 2010.
How long must the medical records be kept by the employer?
Employee medical records must be kept by employers for how long?
How long does a real estate broker keep transaction records in California?
The California Business and Professions Code Section 10148 dictates that a real estate broker must retain all records of transactions for three years, starting from either the closing date of the transaction, or from the listing date if the transaction is not completed.
Why are employees such a major expense for bank?
The employees are such an expense for banks because of they must be paid well. There are some who plan with robbers on how to steal from the coffers of the bank.
A long-term asset must have a useful life of more than a month?
No, a long term asset must have a useful life of more than a year
How long must you retain payroll records?
seven years
How long must a health organization retain a record?
It depends on the country in question.
How long must you retain ads for job recruitment?
There are no universal statutes anywhere that say you must retain them for any given length of time. There may be local legislation. Check locally
How long must the medical provider retain copies of government insurance claims?
six years
If i don't need cheque book so what should i do?
You need to, return all the Cheques to the bank that has issued them to you and submit a request in writing that you no longer wish to use them and the bank must destroy them. The bank will take care of destruction of the Cheques. Once you submit them to the bank, it is the banks liability or rather responsibility to ensure that they aren't available for use by other people.
To retain it longer than this what must a person do?
rehearse it
WHAT IS DEPOSIT FUNCTION?
justifies the worth of banks in the financial world for it is a must that banks must have substantial amounts of deposits
What is the amount of travel expenses receipts you must retain?
$75
What banks must join the federal reserve system?
all nationally chartered banks.
Most people can retain something in working memory for less than 30 seconds To retain it longer than this what must a person do?
Rehearse It
What requirements banks must meet under a fractional reserve banking system?
banks must keep a specific percentage of deposits on hand.
What accurately describe the requirements banks must meet under a fraction reserve banking system?
Banks must keep a specific percentage of deposits on hand.A banking system in which banks keep a portion of deposits on hand to satisfy their customer's demands for withdrawals.
