A safe and secure way to destroy personal financial information.
“How to get rid of old bank statements without a shredder” is a question that many people have. There are safe ways to dispose of old bank statements, such as recycling or donating them. Read more in detail here: how to get rid of old bank statements without a shredder.
You must be quite fortunate if you have never been a victim of identity theft. According to the Federal Trade Commission, there were 444,602 occurrences of identity theft in 2018. Cybercrime is on the increase these days, and criminals find it simpler to steal personal information than a company’s database.
Hacking your data is a no-brainer if they have access to your old mail, which includes credit and debit cards. According to the PNC chief security officer, bank statements, debit card statements, and any other credentials containing your personal information should be disposed of appropriately. It’s quite likely that your identity will be stolen if you throw your bank papers in the trash can.
What do identity thieves need in order to commit cybercrime? Your complete credentials, including your name and address. They will most likely get this information from your utility bills. Unfortunately, recovering your personal information from identity theft will take some time. To that end, here are some guidelines for safe paper disposal to help avoid identity theft.
Without a shredder, how can I get rid of old bank statements?
1. Pulverize them
Pulping is the most effective approach to remove sensitive credentials, such as bank statements, despite the fact that it is a labor-intensive method of disposal.
Bleach and a bleach-resistant garbage can are required for effective pulping. Pour half a litre of bleach into the garbage bin and let it aside for a bit. Bleach accelerates the decomposition of paper and removes ink, making your important papers illegible. However, since bleach may be harsh on the skin, avoid coming into touch with it when handling it. To avoid respiratory difficulties, work in a well-ventilated environment in the meanwhile.
To dilute the bleach, pour five litres of water into the garbage can once more. Make sure your papers are thoroughly immersed in the diluted mixture. If you have a large number of documents to process, you may be asked to work in batches. If you want to be more efficient, you may add additional bleach to the water.
Protective gloves are required since bleaches are hard on the skin. To immerse the papers in the bleach, you may alternatively use a long stick or any other bleach-resistant equipment.
Allow the diluted bleach mixture to sit for 24 hours once the papers have been completely soaked. To pulp the document, use an electric mixer similar to a paint turbine. Keep an eye out for the ideal combination.
You did an excellent job! You should now be able to discard your papers. Before placing the pulp in a garbage bin for collection, be sure it has fully dried. The paper pulp may also be used to make compost.
2. Hand-Shred Them
Shredding by hand, once again, is a time-consuming method of disposal. While this approach seems to be simpler, it is not as secure as the others. However, for many people, this is the most frequent technique.
If you use this strategy, be careful to break the page into little pieces to eliminate sensitive areas. It’s also a good idea to throw the little bits in the trash can. As a result, there will be a very little likelihood of someone gathering all of the components of a single document.
Some individuals use this strategy to get rid of old credit cards as well, but they use separate garbage cans for each component. You could, for example, place one piece in the kitchen trash can and the other in the bathroom trash can.
3. Destroy them
People will use this strategy more often. However, burning papers isn’t the only option to get rid of them. However, if you set fire to your paper papers on a regular basis, you may be guaranteed that they will be destroyed.
Because there is little air between the sheets to keep the fire going, occasional burning will not permanently ruin your paper credentials. Regular burning refers not just to batches of papers, but also to single sheets. Most of the time, a single sheet will be blown away before all of the important information on it burns up.
A fire pit or a gas stove, on the other hand, will go a long way toward eradicating all of the sensitive information on your paper papers. All you have to do is place them between the wood to allow them to burn without difficulty.
4. Shred them on a National Shred Day
Local companies, unsurprisingly, provide shred days as a service to their clients. To check whether such services are available, contact your bank or a local recycling firm.
This service is often provided for free, so if you have the patience to preserve your sensitive data for an extended length of time, this is an option worth exploring.
This shredding service is not only affordable, but it is also of high quality. They’ll not only shred your paper documents into small bits, but they’ll also mix them in larger quantities than you could accomplish at home.
5. Hire a shredding company
If shredding is your preferred method of disposal but you don’t have one at home, don’t panic; you can always hire a shredding service. This is frequently used as an alternative to shredding at home.
To determine whether such services are offered in your area, contact your local shop. If not, there are plenty of recycling facilities that will handle it for you at a reasonable charge. Using a local shredding service rather than destroying your documents at home can save you a lot of money since they charge by volume.
Is Disposing of Bank Statements Safe?
According to the Federal Trade Commission, instead of tossing away important papers, you should shred them. Bank statements to credit and debit cards are all examples of sensitive papers.
Is it possible to shred bank statements?
Yes, shredding is the most secure method of destroying sensitive papers. According to most studies, document shredding should be done after seven years at the most. After paying your utility bills, destroy the receipts as soon as possible.
If the sales receipts aren’t linked to warranties, insurance, or taxes, trash these as well. Meanwhile, after a year, you may destroy bank statements and medical bills.
You may help prevent identity theft by shredding crucial papers. Please delete the papers if they are no longer helpful in order to protect your personal information from cybercrime.
Is it necessary to keep bank statements for tax purposes?
YES. It’s usually a good idea to hold bank statements for at least a year, either in paper form or electronically, before deciding whether or not to trash them. Keep all tax-related records for at least three years to ensure future evidence.
In the event of tax filing, the IRS may request supporting paperwork from three to seven years after the return was filed. Forms W-2 and 1099, bank statements, and charity gift receipts going back three to seven years are examples.
When it comes to cancelled checks and bank statements, how long should I keep them?
7 years old. According to the Federal Deposit Insurance Corporation, canceled checks and bank statements should be kept for a maximum of seven years. This will assist you in increasing your tax rates.
If the canceled check or bank statement isn’t linked to the Internal Revenue Service, trash it after one year. However, you may wish to save checks or documents pertaining to liabilities you have acquired, such as your home. This is particularly true for home improvement checks, which may go a long way if you sell the property.
5 Ingenious Ways to Get Rid of Sensitive Documents
Confidential records are very important, and you must discover the most efficient manner to dispose of them. This section will show you how to dispose of important papers in the safest manner possible.
1. Shredding Your Paperwork
At work and at home, shredding is by far the most popular technique of disposing of sensitive papers. If you have a lot of sensitive papers that you don’t want to keep, shredding them is the best option.
Most individuals now shred their most sensitive papers in order to render them unreadable to others who may desire to use the information for personal benefit. Furthermore, shredders are a fantastic approach to ensure that no one can reassemble the parts to read the paper. Many individuals constantly mess up the papers after they’ve been shredded, making it difficult for anybody to rebuild the documents.
Shredding is one of the safest methods to dispose of any sensitive document, according to the HIPAA, so don’t be scared to destroy any sensitive papers you no longer need. Shredding is also environmentally helpful, since shredded documents may be recycled and reused in other industries.
2. Dismantling the Documents
In other circumstances, you may not have many confidential papers that you wish to erase. As a result, a paper shredder may not be required for this basic activity. Instead, you might tear up the papers and dispose them away in a secure location.
If you want to clip the document, you must be extremely cautious not to allow anything to be readable. Cut them up into small bits and mess them up to confound anybody who tries to reassemble the papers and read them. For example, you could wish to cut the document’s critical portions, such as those containing bank information and Social Security numbers, among other things.
The rule of them, like any other method of deleting your important documents, never allows anybody to rebuild the papers. Make every effort to ensure that the writings are completely obliterated. Until that time comes, your sensitive data will be protected, and you won’t have to worry about your privacy.
3. Documents Are Being Burned
Another technique to ensure that no one else has access to your sensitive information is to burn your papers. It’s one of the best techniques to ensure that no one reconstructs the ashes to decipher the contents of the paper.
Burning papers is a wonderful option, but certain states have limits, so double-check your state’s rules. If you’re not sure, check with your state’s agencies before burning any critical papers.
If you want to burn a large number of sensitive papers, you’ll need an incinerator that can handle the amount. It will take some time for all of the passes to burn, but it will be well worth the effort. Be patient and make sure all of the papers are totally burned. The HISAA has accepted this procedure as well, but you should double-check with your state.
4. Paper Towels
If none of the preceding techniques work for you, consider soaking your sensitive papers in water for a few days to fully destroy them. The inscriptions will be wiped off, and the Paper will shatter, making it impossible for anybody to read it. You must guarantee, as with any other approach, that no one can recreate the wordings.
Your bank statement or any other sensitive document will be properly disposed of using this approach, but you will not be able to recycle them. As a result, the majority of individuals do not employ this strategy. That isn’t to say that this strategy shouldn’t be used; it should be since it is really successful. The main drawback is that the papers cannot be recycled.
5. Employing a Business
Finally, you may use the services of a business to assist you with the disposal of your sensitive papers. We understand that this may make you feel uneasy, but these firms are experts at managing your papers with care. If you are concerned about the security of your data, you should avoid this technique.
You must trust reputable firms developed specifically for this kind of job to delete your important papers without exposing any information. If you still feel uneasy, be sure to inquire about the company’s privacy practices so that you may sue them if anything goes wrong.
When it comes to disposing of bank statements, most people just throw them in the bin. However, there are safer ways that you can dispose of your bank statements. Putting them in a safe is one way. Reference: putting bank statements in the bin.
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