Out of all the sources for unclaimed money, abandoned bank accounts have to be the most boggling. How can anyone abandon a bank account? That’s the question most people want the answer to the moment they hear that there are millions if not billions of dollars in unclaimed money from that very source. Regardless of how or why it happens, it certainly does happen and it’s a frequent enough occurrence that most state Treasurers want to put a stop to it. If you suspect that you may have abandoned a bank account somewhere down the line, it’s time for you to finally find out.
Abandoned Bank Accounts – How it Happens
Most people don’t abandon bank accounts that have hundreds or thousands of dollars in them. In most cases, the accounts have a nominal amount in them and they’re abandoned because the person thinks it’s easier to just cut and run rather than take the time to close the account completely. What usually ends up happening is the money that is in the abandoned bank accounts starts accruing interest. That means that when you find abandoned bank accounts, they usually have much more money in them than you first suspected.
Find Abandoned Bank Accounts – No Matter When They Were Abandoned
You may think that once you abandon a bank account that the money is gone forever. That’s not the case at all. In fact, the money still belongs to you. It’s just sent to the state Treasury for safe keeping. The Treasury will hold the money and manage it until such time as you step forward to claim it. The good news is that claiming abandoned bank accounts is as easy as searching for your first and last name.
The Cash Unclaimed database holds hundreds of thousands if not millions of names that all have lost or missing money coming to them. Much of this money is likely attributed to abandoned bank accounts, but you won’t know until you take the time to search. If everyone searched for and tried to find abandoned bank accounts, we might be able to return all that money to the rightful owners and the state Treasurers whose job it is to return all that money could finally breathe a sigh of relief.
Search for abandoned bank accounts and other sources of unclaimed money today by searching for your first and last name, or the names of relatives. The more money you uncover, the more you’ll help the state, the economy and yourself by putting a little extra cash in your pocket.