Transaction lists and credit card statements

[rosequeen]

This is a bit of a technical question for long standing bank employees or other retail banking experts about the way data is sent to a customer following a DSAR. I wasn't sure which forum to post it on because it could be relevant in PPI complaints and bank charges, sorry if it should be elsewhere.

 

my query is;

why does a bank send you lists of transaction histories instead of copies of the original statements for current accounts and yet for credit card accounts they send you a full hard copy with all the original data just as you had received it years before.

 

 

When I phoned the bank to ask, the clerk said that's just how they are printed from microfiche.

 

Does anyone know why you cannot request a copy of the original current account statement?

I can't imagine the banks removed all your original statement details and just retained the transactions and account number before they archived it, or did they?

 

Thanks to whoever can explain the process

[dx100uk]

cause they only have to keep transaction history on a bank account

its not covered by things like the consumer credit act and isn't a 'bill' like what credit card statements are like.

 

 

dx

[unclebulgaria67]

This is a bit of a technical question for long standing bank employees or other retail banking experts about the way data is sent to a customer following a DSAR. I wasn't sure which forum to post it on because it could be relevant in PPI complaints and bank charges, sorry if it should be elsewhere.

 

my query is;

why does a bank send you lists of transaction histories instead of copies of the original statements for current accounts and yet for credit card accounts they send you a full hard copy with all the original data just as you had received it years before.

 

 

When I phoned the bank to ask, the clerk said that's just how they are printed from microfiche.

 

Does anyone know why you cannot request a copy of the original current account statement?

I can't imagine the banks removed all your original statement details and just retained the transactions and account number before they archived it, or did they?

 

Thanks to whoever can explain the process

 

Simple explanation is this.

 

Current account statements when issued originally are for a set period e.g one month or three months worth of statements. The statements might be for say 7th May to 6th June, so not starting on 1st of month, as it depends on date the account was originally set up. The statements are not stored on the Banks system, as January 2017, February 2017 etc. Therefore when they come to deal with an SAR, they enter the start date/end date and it just prints off a long list of transactions for the whole period. They can't just hit one button to recreate all statements issued as they were previously.

 

The information contained will be just the same though.

[rosequeen]

Thank you for both responses.

 

I get that about the credit card statement being a bill,

 

but you don't receive all the original data with a current account transaction list,

for instance on a direct debit notation.

 

All you would see is the date,

the name of the business being paid

and the amount debited,

not the reference number which you might need for a pre regulation ppi complaint.

[dx100uk]

do you know it was there in the first place?

[unclebulgaria67]

So ask the Bank for the missing data to be shown on the transactions.

They just need to set the correct parameters and any data will be printed off.

It might be that branch staff don't know how to do this, but if they asked their IT, they can do this.

[rosequeen]

Please excuse my ignorance what are the correct parameters? Could the bank still do this for transactions dating from twenty years ago?

[dx100uk]

do what?

[rosequeen]

Locate missing data that was shown on the original current account statement but not included in the recent transaction list

[dx100uk]

but if you know that information is missing, you must already have it, so why is this a problem?

or

what is it that's missing that you think you need?

 

 

we can keep guessing what you are trying to ask all night at this rate?

 

 

dx

[rosequeen]

I used to have the info and now I am trying to get the bank to find it. Hopefully if unclebulgaria67 tells me what the correct parameters tomorrow I'll be able to make some progress, thanks and goodnight

[dx100uk]

dates are what UB is talking about

what info are you missing

to do with what?

 

 

dx

[unclebulgaria67]

I used to have the info and now I am trying to get the bank to find it. Hopefully if unclebulgaria67 tells me what the correct parameters tomorrow I'll be able to make some progress, thanks and goodnight

 

What i meant, is that you need to ask the Bank to show all transaction information in full, as it would have done on the original statements, rather than just a summary of transactions.

[rosequeen]

Thanks unclebulgaria, but can the banks do this with transactions from twenty years ago?

[unclebulgaria67]

Some might. It depends on their archive system. Financial services companies don't always have brilliant IT systems and frontline staff might not have access to data. I would expect all companies to have full data going back 12 years, but beyond that it is more difficult, as very old records may just get deleted.

[rosequeen]

Okay thanks, my bank supplied all the current account transaction lists going back to 1990 but the original direct debit references numbers were missing, so in your opinion do you think they were probably deleted when no longer required? I was hoping they may have left a footprint somewhere in the bank' s archive systems.

 

I did notice that in the case of a direct debit set up by my bank for one of their own products, the reference number was still visible on the transaction list but not other businesses direct debits from over twenty years ago.

[unclebulgaria67]

From what you have explained, your Bank supllied all data they had available. With an archive system, you can't recreate what is not there. It is not like a live system of data, where you have option of what data you want to print out.

[rosequeen]

Thanks unclebulgaria, on that point, what if all the data was there at the time the transactions were archived to microfiche, would the bank go to the trouble of removing some of this data from microfiche records, in the future, just because it was no longer required?

 

As I said in my previous post my bank had retained and archived their own direct debit reference numbers on the transaction lists but not those of other businesses that I was paying at the same time. Can you explain this or any other knowledgable poster reading this thread? Sorry if I am making hard work of it but I would like to understand the process of data archiving and retrieval by the banks.

[dx100uk]

RS what info are you trying to findout who the DD went too?

[rosequeen]

Thanks dx100,

I have the names of the other businesses,

the dates

and the amounts paid by direct debit on the transaction lists ,

 

 

I just need the DD reference numbers that were shown on the original statements during the 1990's because they often contain the account number of the credit finance.

 

This is the information I am searching for and the SAR did not reveal it.

[dx100uk]

so why cant you gain those by sar to the named original creditor?

as this is in the PPI forum, i'll guess its to do with reclaiming PPI?

you don't need the account numbers to sar the OC

ok you need the account numbers to fire a reclaim off but it should be easy to match the bank DD dates to payment date from the OC's statements?

[rosequeen]

Already tried that, the original creditor said they cannot locate any details without the account number, sending them a copy of the direct debit transaction did not help due to its age

[unclebulgaria67]

Already tried that, the original creditor said they cannot locate any details without the account number, sending them a copy of the direct debit transaction did not help due to its age

 

What about a list of Direct Debit authorities on the bank account ? Can the Bank supply that.

[rosequeen]

I might try that, however, would the bank retain DD authorities going back twenty years in microfiche. Don't they delete DD details six years after they've ended?

[unclebulgaria67]

I might try that, however, would the bank retain DD authorities going back twenty years in microfiche. Don't they delete DD details six years after they've ended?

 

There might be an electronic record of DD's, but probably not microfiche. The Bank would have processed adding the DDA and then it is most likely to have been destroyed if it were a paper version. Most DDA's are set up electroncally with the originator communicating the details to the Bank via a centralised system.