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Deposit Age Record Feature

The Deposit Age Record feature helps you track and manage the age of your deposits easily. This tool is designed to give you clear insights into your financial management, ensuring you stay informed and in control of your funds.

Key Features

Automatically records deposit dates for all transactions
Organizes deposit information in a user-friendly interface
Provides real-time updates on deposit age
Offers alerts for deposits approaching maturity
Facilitates easy access to deposit history

Potential Use Cases and Benefits

Individuals seeking to manage their savings more effectively
Businesses needing to track multiple deposits and their terms
Accountants who require precise records for reporting purposes
Financial planners who want to optimize client deposit strategies

This feature solves your problem of financial uncertainty by providing clear data about your deposits. You can make informed decisions regarding your savings and investments, ensuring you maximize your financial potential.

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National banks must retain records of any deposit over $100 for at least 5 years. At the bank's discretion, these records may be retained for longer periods.
Transaction History Under the Bank Security Act, banks must keep a detailed history of each checking and savings account for at least five years after the information is obtained.
Banks generally will keep records that are linked to a bank account for periods of 5 years at a minimum. In the case of Credit cards companies it can vary depending on the account's activity, relationship to a vanity or branded bank.
Again, there is no rule, but other laws, like the Fair Credit Reporting Act, make having the information important. A cursory search online found several banks hold onto information for about seven years. TD Bank, for instance, said they retain seven years of account history in our records.
A default will stay on your credit file for six years from the date of default, regardless of whether you pay off the debt. But the good news is that once your default is removed, the lender won't be able to re-register it, even if you still owe them money.
Bank statements should be kept in hard copy or electronic form for one year, after which they can be shredded.
Bank statements should be kept in hard copy or electronic form for one year, after which they can be shredded. Keeping bank statements is ideal to verify debit and credit activity, to protect against identity theft, and to prove income. Banks allow customers to access bank statements for at least a year online.
Most of the time recent bank statements can be found readily via Online/App banking and are usually free. However, depending on the bank: visiting the local branch (with ID of course) is required and the costs vary according to the Bank, legislation and how many statements are needed.
You can view and search your transactions and statements going back up to 7 years. Remember you can also download, save and print a PDF of your statement from within Online Banking and the new design means it could be used as proof of your identity, address or income.
We keep copies of your statements for 7 years. If you are an Online Banking customer, you can sign in to Online Banking, and select Statements & Documents under the Accounts tab, then go to the Request statements tab and select Order a paper statement copy.

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