Paper statements are now opt-in most places, so most people won’t have local copies of the records anymore. It’s extremely important, because there is no duty for a company to provide historic data. None of my banks provide detailed data back more than a couple of years.

Many banks don’t even provide bank books anymore.

The only physical thing I’ve got from my bank is an ATM card.

That is a good point and at the very least it’s a good idea to download electronic statements, maybe with a script to retain the most recent n statements