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Bank accounts are considered
unclaimed when the owner fails to make a deposit or withdrawal over
an extended period, or when a statement or other official
correspondence is returned by the post office as undeliverable. Even
allowing a Certificate of Deposit (CD) to automatically roll over may
result in the presumption of abandonment.
This often happens after the untimely death of a family member, name
changes following marriage or divorce, following expiration of a mail
forwarding order after a move, and even as a result of computer and
clerical errors.
Did you have money on deposit at a bank that moved, changed its name
or closed? Don’t assume that because your bank, savings and loan or
credit union no longer exists that unclaimed funds are lost forever.
Your account may have been transferred to another bank, or to a
government custodian after a merger or acquisition.
Even if your bank or credit union failed and closed its doors, you
may still be entitled to collect insurance proceeds from government
regulators, currently up to $250,000 per account. Unclaimed money may
be recovered after years of inactivity, even if a passbook is lost or
destroyed, but you should act promptly to safeguard your rights.
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To trace an unclaimed bank account
or lost CD, complete the form below.
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