# Best way to dispose of old bank statements and the like? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [September 23, 2003, 7:01pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375 "2003-09-23T19:01:59Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![amarone](https://avatars.discourse-cdn.com/v4/letter/a/e0b2c6/32.png) [@amarone](https://boards.straightdope.com/u/amarone)\ **Post date:** [September 25, 2003, 3:33am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/21 "2003-09-25T03:33:42Z")
This may shock the previous posters, but… I just throw mine in the trash. I don’t think the minuscule risk of anything happening is worth the (low) cost, space used or time taken to use a shredder. ---
**Author:** ![Moe](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/moe/32/2972_2.png) [@Moe](https://boards.straightdope.com/u/Moe)\ **Post date:** [September 25, 2003, 3:42am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/22 "2003-09-25T03:42:42Z")
> [@](#): > > \*Originally posted by sycorob \* > \*\* > I really believe if you get one, you’ll love it. \*\* I must admit, shredding does sound like fun. But I’m a bit surprised that shredding and burning seem to be the only 2 practical ways to dispose of this stuff, and burning really isn’t all that practical. Well, the motivation has faded. I’ll just have to wait till my piss and punk reserve replenishes itself (probably by early Spring) when I get a new inspiration to clean up my life. ::sigh:: ---
**Author:** ![Duckster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/duckster/32/1244_2.png) [@Duckster](https://boards.straightdope.com/u/Duckster)\ **Post date:** [September 25, 2003, 4:13am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/23 "2003-09-25T04:13:53Z")
> [@](#): > > \*Originally posted by amarone \* > \*\*This may shock the previous posters, but… I just throw mine in the trash. I don’t think the minuscule risk of anything happening is worth the (low) cost, space used or time taken to use a shredder. \*\* Good for you! For the [third consecutive year](http://www.ftc.gov/opa/2003/01/top10.htm) the FTC reports identity theft tops the list of top ten consumer complaints. > [@](#): > > Stealing wallets used to be the best way identity thieves obtained SSNs, driver’s licenses, credit card numbers and other pieces of identification. While still employed, identity thieves now use more sophisticated means: > > - “Dumpster diving” in trash bins for unshredded credit card and loan applications and documents containing SSNs. > - Stealing mail from unlocked mailboxes to obtain newly issued credit cards, bank and credit card statements, pre-approved credit offers, investment reports, insurance statements, benefits documents, or tax information. Unfortunately, even locked mailboxes may not stop the most determined thief. > - Accessing your credit report fraudulently, for example, by posing as an employer, loan officer, or landlord. > - Obtaining names and SSNs from personnel or customer files in the workplace. > - “Shoulder surfing” at ATM machines and phone booths in order to capture PIN numbers. > - Finding identifying information on Internet sources, via public records sites and fee-based information broker sites. Source: [http://www.privacyrights.org/fs/fs17-it.htm](http://www.privacyrights.org/fs/fs17-it.htm) > [@](#): > > A recent report on identity theft warned that there is likely to be “mass victimization” of consumers within the next two years. The report said consumers should be extra careful to monitor all their financial transactions for unexplained account activity, withdrawals, or fund transfers. > > -The Gartner Group, a technology research group > > It cost the average victim more than $1,000 to cope with the damage from identity theft, according to the FTC. Source: [http://www.identity-theft-protection.com/stats.html](http://www.identity-theft-protection.com/stats.html) Even the [credit reporting agencies](https://scorecard.experian.com/creditexpert/creditmanager/019_438_am_theft_stats.jsp) say to shred documents before disposing in the trash. 😃 ---
**Author:** ![Annie-Xmas](https://avatars.discourse-cdn.com/v4/letter/a/ecc23a/32.png) [@Annie-Xmas](https://boards.straightdope.com/u/Annie-Xmas)\ **Post date:** [September 25, 2003, 12:33pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/24 "2003-09-25T12:33:56Z")
Put into garbage can. Add contents of a bottle of chlorine bleach. ---
**Author:** ![Moe](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/moe/32/2972_2.png) [@Moe](https://boards.straightdope.com/u/Moe)\ **Post date:** [October 30, 2003, 3:50pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/25 "2003-10-30T15:50:08Z")
Well, I’m finally at the folk’s home, and I’m shreddin’ like the wind. This _is_ fun. (Or at least it was until I managed to get a nice big fat jam going. The shredder is a 5 page capacity one, but I got a little over ambitious.) ---
**Author:** ![Moe](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/moe/32/2972_2.png) [@Moe](https://boards.straightdope.com/u/Moe)\ **Post date:** [October 30, 2003, 4:19pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/26 "2003-10-30T16:19:01Z")
OK, this is bad. I think I broke it. I followed the instructions printed on it (put it in reverse) and then I conitinued to do a FORWARD-REVERSE-FORWARD-REVERSE thing. After a minute or 2 it stopped working. I hit reset, tried, then waited, tried, and I’m getting nothing. Did I break it? ---
**Author:** ![sunfish](https://avatars.discourse-cdn.com/v4/letter/s/96bed5/32.png) [@sunfish](https://boards.straightdope.com/u/sunfish)\ **Post date:** [October 30, 2003, 5:32pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/27 "2003-10-30T17:32:44Z")
It might be a combination of paper jam and overheating. You’ll need to carefully pull the bits of paper out by hand, and make sure that you have room for newly-shredded material in the bin underneath. Once you have the paper jam cleared, let it rest for 15-20 minutes before you try again (says the Voice of Experience 😃 ). ---
**Author:** ![hyperjes](https://avatars.discourse-cdn.com/v4/letter/h/df705f/32.png) [@hyperjes](https://boards.straightdope.com/u/hyperjes)\ **Post date:** [October 30, 2003, 5:49pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/28 "2003-10-30T17:49:17Z")
Cut them into strips with scissors or tear them into little pieces. Then just throw them out. I dump our coffee grounds, spoiled leftovers or used cat litter on top. Then the trash goes directly into the apartment complex’s compactor. If someone wants our pathetic financial info. badly enough to dig through that…Well, I admire their determination. 😉 ---
**Author:** ![amarone](https://avatars.discourse-cdn.com/v4/letter/a/e0b2c6/32.png) [@amarone](https://boards.straightdope.com/u/amarone)\ **Post date:** [October 30, 2003, 10:31pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/29 "2003-10-30T22:31:03Z")
As we have been bumped, I’ll respond to an old comment: > [@](#): > > \*Originally posted by Duckster \* > \*\*Good for you! > > For the [third consecutive year](http://www.ftc.gov/opa/2003/01/top10.htm) the FTC reports identity theft tops the list of top ten consumer complaints. > > Source: [http://www.privacyrights.org/fs/fs17-it.htm](http://www.privacyrights.org/fs/fs17-it.htm) > > Source: [http://www.identity-theft-protection.com/stats.html](http://www.identity-theft-protection.com/stats.html) > > Even the [credit reporting agencies](https://scorecard.experian.com/creditexpert/creditmanager/019_438_am_theft_stats.jsp) say to shred documents before disposing in the trash. > 😃 \*\* So the statistics say that something like one in 50 - 70 people suffers from identity theft per year and the average cost is “over $1,000”. That means if you are spending more than about $20 per year on your security measures (and I would include a value of your personal time in that), then you are spending more than is financially justified. That is why I haven’t bought a shredder and don’t shred my documents. ---
**Author:** ![Kat](https://avatars.discourse-cdn.com/v4/letter/k/b19c9b/32.png) [@Kat](https://boards.straightdope.com/u/Kat)\ **Post date:** [October 31, 2003, 1:20am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/30 "2003-10-31T01:20:34Z")
I bought a shredder to shred my stuff, but mainly because I like to play with the shredder. Before I bought it, I just ripped it up and put it in the bag with the used cat litter. But shredding it is more fun. ---
**Author:** ![buttonjockey308](https://avatars.discourse-cdn.com/v4/letter/b/bcef8e/32.png) [@buttonjockey308](https://boards.straightdope.com/u/buttonjockey308)\ **Post date:** [October 31, 2003, 1:53am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/31 "2003-10-31T01:53:59Z")
I shred, then bleach, with a 5% solution or better, then pulp. ---
**Author:** ![3.885AM](https://avatars.discourse-cdn.com/v4/letter/3/58956e/32.png) [@3.885AM](https://boards.straightdope.com/u/3.885AM)\ **Post date:** [October 31, 2003, 3:56am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/32 "2003-10-31T03:56:01Z")
After we got married we changed checking accounts, this left us with a large supply of surplus checks, and no convenient way of disposing of them. We also raised gerbils, one of the few pets we could have in our apartment. So on the way out to work one morning I dropped the entire stack of checks into one of the cages, when I got home that evening the largest piece remaining was about 1/16 by ¼ inch. And the little rats were having a ball! The ink and other chemicals in the paper may not be the best thing for them but they never showed any signs of ill effect. ---
**Author:** ![DreadCthulhu](https://avatars.discourse-cdn.com/v4/letter/d/db5fbb/32.png) [@DreadCthulhu](https://boards.straightdope.com/u/DreadCthulhu)\ **Post date:** [October 31, 2003, 4:03am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/33 "2003-10-31T04:03:44Z")
I suggest simply eating them. They don’t taste that bad, and most people need more fiber in their diet anyways. ---
**Author:** ![artemis](https://avatars.discourse-cdn.com/v4/letter/a/91b2a8/32.png) [@artemis](https://boards.straightdope.com/u/artemis)\ **Post date:** [October 31, 2003, 4:09am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/34 "2003-10-31T04:09:39Z")
> [@](#): > > \*Originally posted by amarone \* > \*\*As we have been bumped, I’ll respond to an old comment: > > So the statistics say that something like one in 50 - 70 people suffers from identity theft per year and the average cost is “over $1,000”. That means if you are spending more than about $20 per year on your security measures (and I would include a value of your personal time in that), then you are spending more than is financially justified. That is why I haven’t bought a shredder and don’t shred my documents. \*\* Uh, that’s just the monetary costs. If someone steals your identity, it can literally take YEARS to get all the damage undone; you’re pretty much on your own when it comes to proving that the person who’s been withdrawing money from your bank accounts, ruining your credit history, and accessing your personal documents (such as your medical records) is not in fact you! Law enforcement is only just beginning to take identity theft seriously. Don’t be penny wise and dollar foolish - spend the $40 for a decent shredder and use it. Or you may wake up one day to discover that you owe $50,000 dollars in unpaid credit card purchases billed to cards you never signed up for. If that happens, have fun convincing the credit card companies you didn’t open those accounts! ---
**Author:** ![Palewriter](https://avatars.discourse-cdn.com/v4/letter/p/db5fbb/32.png) [@Palewriter](https://boards.straightdope.com/u/Palewriter)\ **Post date:** [October 31, 2003, 4:55am UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/35 "2003-10-31T04:55:45Z")
I think the problem is that shredders are so utilitarian and boring. Can’t anybody invent a LION’S MAW shredder, or a BLACK JAWS OF HELL shredder? And why just a “cross” shredder? Why not a “psychotic, anger-management flunkee” shredder, who mauls your statements before devouring them completely and with lots of delicious sound effects? Perhaps a belch to show when he’s done? We need more stuff, folks. - PW ---
**Author:** ![amarone](https://avatars.discourse-cdn.com/v4/letter/a/e0b2c6/32.png) [@amarone](https://boards.straightdope.com/u/amarone)\ **Post date:** [October 31, 2003, 12:16pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/36 "2003-10-31T12:16:15Z")
> [@](#): > > \*Originally posted by artemis \* > \*\*Uh, that’s just the monetary costs. If someone steals your identity, it can literally take YEARS to get all the damage undone; you’re pretty much on your own when it comes to proving that the person who’s been withdrawing money from your bank accounts, ruining your credit history, \*\* I pay little attention to my credit history - I have no debt and do not intend to take on any. > [@](#): > > \*\*and accessing your personal documents (such as your medical records) is not in fact you! \*\* From what they can find out from a bank statement? Hardly. I protect my SSN fervently. I do not enter it on any forms except tax-related and refuse to deal with businesses, merchants or even doctors that ask for it. And what’s the big deal anyway? I’ll put them on the Internet for all to see - in my 7 years in the US I’ve been treated for conjunctivitis and back pain. > [@](#): > > \*\*Or you may wake up one day to discover that you owe $50,000 dollars in unpaid credit card purchases billed to cards you never signed up for. If that happens, have fun convincing the credit card companies you didn’t open those accounts! \*\* I don’t get unsolicited credit cards. I called the opt-out number and it actually works. And they won’t be able to open an account without my SSN, which I do protect. When it comes to destroying a card of my own, I cut it into pieces and put them in separate trash bags. I can handle doing that once every year or so. I’ve never had a problem persuading credit card companies that incorrect charges are not my responsibility. Anyway, all they have is a “claim” that I owe. I will still have the money. It will be incumbent upon them to prove that I do owe them. ---
**Author:** ![dodyskin](https://avatars.discourse-cdn.com/v4/letter/d/ecc23a/32.png) [@dodyskin](https://boards.straightdope.com/u/dodyskin)\ **Post date:** [October 31, 2003, 3:26pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/37 "2003-10-31T15:26:56Z")
shred statements, add to worm farm ( not too many at once though) ---
**Author:** ![voguevixen](https://avatars.discourse-cdn.com/v4/letter/v/b5ac83/32.png) [@voguevixen](https://boards.straightdope.com/u/voguevixen)\ **Post date:** [October 31, 2003, 4:15pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/38 "2003-10-31T16:15:45Z")
What can they get from your bank statement? How about your account number and how much money you have? They only have to walk into your bank, fill out one of those blank withdrawal forms and clean you out. My shredder was $6 at Office Max, is that cheap enough for you? :rolleyes: Re: the 16 years worth of bank statements – my husband has you beat, I think. He still has every document going back to his first bank book in the mid-60’s (when the tellers used to hand write your deposits in for you!) ---
**Author:** ![amarone](https://avatars.discourse-cdn.com/v4/letter/a/e0b2c6/32.png) [@amarone](https://boards.straightdope.com/u/amarone)\ **Post date:** [October 31, 2003, 4:35pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/39 "2003-10-31T16:35:20Z")
> [@](#): > > \*Originally posted by voguevixen \* > \*\*What can they get from your bank statement? How about your account number and how much money you have? They only have to walk into your bank, fill out one of those blank withdrawal forms and clean you out. > > My shredder was $6 at Office Max, is that cheap enough for you? :rolleyes: > \*\* If someone withdraws money from my account with a forged signature, that’s the bank’s problem. Banks send out statements monthly in obviously marked envelopes - it is very easy for a thief to get hold of a statement just by trawling mailboxes. That’s much easier for them than picking through household trash. Hijack - as the USPS is too lazy to deliver through a mailbox in the door in many places, is there any regulation against having a lockable mailbox with a slot? I’ve never seen such a thing, but it would prevent having checks stolen from envelopes in your own mailbox (I never mail checks that way, btw). Of course $6 is not a problem. I don’t want to use up the space, lower the aesthetics of my study, or spend the time shredding. ---
**Author:** ![artemis](https://avatars.discourse-cdn.com/v4/letter/a/91b2a8/32.png) [@artemis](https://boards.straightdope.com/u/artemis)\ **Post date:** [October 31, 2003, 10:11pm UTC](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375/40 "2003-10-31T22:11:05Z")
> [@](#): > > _Originally posted by amarone \* > I pay little attention to my credit history - I have no debt and do not intend to take on any._\* That may be so, but it’s still a good idea to keep an eye on it now and then. It’s not uncommon for landlords to check credit reports before issuing a lease, and of course mortgage companies always do. \*\*Hijack - as the USPS is too lazy to deliver through a mailbox in the door in many places, is there any regulation against having a lockable mailbox with a slot? I’ve never seen such a thing, but it would prevent having checks stolen from envelopes in your own mailbox (I never mail checks that way, btw). \*\* [/QUOTE] Not only are lockable mailboxes legal, they’re becoming increasingly common (for exactly the reason you suggest). You can usually find them at Home Depot or Lowes. [Previous page](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375.md?page=1) [Next page](https://boards.straightdope.com/t/best-way-to-dispose-of-old-bank-statements-and-the-like/203375.md?page=3)