What is the technical limitation for banks that makes them give you only an 18-month history?

Question

For both my bank accounts, I can only access 18 months of history.

To access the old account history, you must pay a certain amount for each old expression. Why do banks do this? Doesn't this practice disappear as we get large hard drives and cheap storage?

Answer 1

The Achilles heel of almost all data storage solutions is backup. No one wants to store data that is rarely available online if it is not needed, because online data costs more than offline data. Unfortunately, once the data is no longer online, it becomes much harder to get into, often using manual processes. Regardless of whether the data is really unavailable on the Internet or not, it is a source of fees for accessing older data.

I know that we delete old data for our students about 13 months after they leave the university. And, yes, we also charge a fee for recovering data after it is deleted to offline storage.

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Speaking from experience, we strive to save seven years of data in living systems, and after that the system can either go to a "non-live backup" or completely abandon it.