Find Unclaimed Bank Accounts

Unclaimed bank accounts make up for the majority of unclaimed money in the United States. There are several banks in United States that has been holding millions of dollars in unclaimed money for years and it is increasing. The accounts that have been dormant for years are not just checking and saving accounts, however there are forgotten bank drafts, credit cards balances, term deposit, and more.

Most of the accounts have less than a $100 balance, but some accounts have amounts more that six figures. Many of these accounts have been lying dormant for many years. If the account that is dormant and has less than $1000 in it, the money will be transferred to the government account and the account owner cannot get it back.
As per the government data, there are many bank accounts in America that have been untouched for several years. Those who want to search for their money or the money which belongs to their relatives can visit government website for search of unclaimed savings account. There will be no cost charged for finding information on unclaimed money. One can also visit the bank website that has all information you want, which includes the claim form that is requires to send in.
Banks transfer accounts after certain periods of time, only if there is no deposit or withdrawal is made during the period. Every year, the government and banks publishes a list of accounts that are about to be transferred from the bank. To claim the unclaimed money from the account, it is important to have knowledge about what kind of accounts can be called unclaimed property. Look for the information below and find out if any of your account is been lying ideal for years.
• Forgotten savings accounts
• Unclaimed security deposits
• Unclaimed checking account
• Contents of a safe deposit box
• Investments, including stocks and mutual funds
Every state in the U.S. has its own time frame for accounts to be nk makes a last effort to find out the owner of customer. As per the last record in the entire U.S., there were around 8,337 accounts escheated to the government, in which $14 million was transferred. Banks try their best to find people who have dormant accounts, as the banks do not want to send money to the state.
Dormant accounts are not just about unclaimed savings accounts, but it also includes escheated to the government. A savings account will be declared dormant if there is no transaction for more the 365 days. The dormant account will be handed over to the state after three to five years later. Some banks also may charge fees when the account goes dormant.
Before transferring the account to the government, a notice is sent to the last known address to remind the client of inactivity on the account. Thirty days prior to account to be escheated, to the state, the basafety deposit boxes that get escheated to the government. This also include policies, stock accounts, trust funds, pensions, utility deposits, mortgage insurance refunds, rent deposits, and many more.