Did you find an unclaimed bank balance in your name? The next step is claiming the cash you’re owed! Keep in mind that the state must be sure that you are the rightful owner of the account. So, in order to access any unclaimed money in bank accounts, you’ll need to prove your identity as well as your relationship to the account during the claim filing process.
Once you successfully file a claim to retrieve the funds in a dormant bank account, you’ll receive your money. Learn the process for retrieving missing money in old bank accounts by reading the sections below.
Were you happy to find a nice sum of cash in a dormant bank account? We don’t blame you! Finding money that you forgot existed can feel like an extra payday. The next step is filing a claim to get it.
Just remember – the state needs to make sure that you’re the right person to send the money to. So, if the process for getting your money in unclaimed bank accounts seems intricate, it’s for a good reason.
Each state has dormant bank account rules and proceedings to ensure the money goes back to the original owner. To get your money, you’ll need to follow the specific claims process in your state. The process of receiving money in an inactive bank account may vary slightly based on where you live, but it typically consists of these three steps.
Step 1: Gather documents. Depending on your state, you’ll likely need to provide one or more of the following:
- Driver’s license or ID card
- Social Security card
- W-2
- Bank statement
Step 2: Submit a claim. Your state may require you to complete a claim form when requesting money from an unclaimed bank balance. The form is used to verify the information provided on the documents you submit in step one.
Step 3: Retrieve your money. If your state approves of your claim for the old bank account’s unclaimed money, it will usually send you a check in 30 to 180 days. Some states may deposit your money directly into your account.
By Admin –
