Finding unclaimed money in bank accounts is a quick, three-step process. All you need to do is go online, enter some personal information and view your results. Even if you don’t think that you have a dormant bank account, it may still be worthwhile to do a quick check.
You could have $1000s waiting for you to claim and not even know it!
That’s why it’s important to check frequently, just in case. Searching for unclaimed bank balance money is free, and you can do it from the comfort of your own home. Here’s how you can find money in dormant accounts.
To find unclaimed money in bank accounts, you should start with an online search in your state. When an inactive bank account goes untouched for a designated period of time, usually 1 to 5 years, it gets transferred over to the state for safekeeping.
Every state maintains data of unclaimed property – like money, bank accounts, paychecks and other assets – online. These unclaimed property websites let you search by name, address and zip code. If you’ve lived in multiple states, make sure to check the website of each state you lived in.
These websites don’t always have the most current information. If you don’t find an unclaimed bank balance listed there, it could just be that your state hasn’t updated its records recently.
If you think you have unclaimed money in banks that have closed or were shut down, you can search the FDIC’s Unclaimed Funds page. The Federal Deposit Insurance Corporation keeps records of all financial institutions in the U.S.
You could also have unclaimed funds in an account belonging to a closed credit union. To check, look through the Unclaimed Deposits list offered by the National Credit Union Administration (NCUA). Whereas the FDIC insures banks, the NCUA insures credit unions.