This is mostly for Community Banks:
How long do you keep (checking, savings, CD, etc) statements at the Bank that are not mailed out? Customers currently have two weeks to pick them up before they are mailed out. Does anyone have a longer period than that? 30 days? 60 days?

Do they have to sign some type of log when they pick them up?

Does anyone not allow their customers the option of picking up their statements at the Bank?

Does anyone shred the statements if they are not picked up?

I think they have 60 days to pick them up, they sign when they do, they are shred if they are not. We have drastically limited the service recently and implemented a fee.

We keep ours for 30 days. In the day and age of technology, statements can be reprinted in about 30 seconds.

Why print them to begin with if you can produce them on-demand??? I think this practice has long since become a really bad idea. If they don't want their statements delivered to their house, they need to rent a drop box somewhere and get the bank off the hook.

We keep them for 30 days before mailing and we do have a log for them to sign when they pick them up. The way our filing system works is if we go to put a statement in the hold file and there is still one in there from the previous month, we mail the older one. We really discourage the practice and in most cases when someone asks for the service we just recommend estatements, and most of the time those customers do enroll. Last I checked we only have 3 business customers that still have their statements held.

and there is still one in there from the previous month, we mail the older one.

What??? You have to be kidding. Why are these statements on hold then??? Just mail them out and get rid of this service before it bites you one day.

Exactly why I said we only have 3 left, because we discontinued the service for everyone else. The 3 that are left are typically very prompt in picking theirs up, hence why we allow it.

Waste of effort. Just discontinue the service. Managing a process for three customers is not a wise use of resources.

You have to understand that the reason Randy is expressing concern is because if there is something in that statement that has a timeliness issue, they did not receive notice until they meandered over to pick it up. You have fraud concerns, etc.

And hopefully those that you have are locked up on a very restricted basis. Fraud by bank employees on these accounts not being watched by customers is a risk.

Kathleen B: this is where I am coming from. The risk involved in unmonitored accounts is very high. I will definitely make suggestions to get the Bank "off of the hook" as rlcarey suggested.

First I have to address why we still have statements waiting to be picked up that have been here longer than our time allotted by policy. Yikes!

Thank you all for your input. We do not offer estatements yet. I know, behind the times. I'm working on it!