How long should you keep bank statements?

Ready to get rid of those old financial documents? Don’t get out the shredder until you learn how long to keep bank statements.

You might want to throw out your past bank statements, but what if you need them to prove your income and savings on next year’s taxes? Here’s how long you should keep your bank statements on file.

Hold on to statements for one to three years.

Most financial experts say you should keep your bank statements in either digital or hard copy for at least one year. Once they’ve been in the filing cabinet (or your computer hard drive) for one year, you can finally shred the paper or press the delete button.

However, if you have bank statements that contain tax-related information — like proof of a charitable donation — you should keep them for at least three years.

The best way to store bank statements.

The best way to store bank statements is digitally as PDFs.

If you have dozens of bank statements, though, managing so many documents can be cumbersome. Here’s how to simplify your bank statement storage:

  1. Convert to PDF — Convert your bank statements to PDFs online to maintain formatting and make them easier to store.
  2. Merge PDFs — Then you can merge them online to make one easy-to-store file.
  3. Compress PDFs — That many pages in one PDF can make huge file sizes. Compress your PDF online, so it takes up less space on your storage device.

That one manageable, compressed PDF can then sit happily in your computer’s hard drive or cloud storage for as long as you need.

Now that you’ve learned how easy it is to convert, merge, and compress your bank statements into storable PDFs, discover what more you can do with Adobe Acrobat online services.