Under Washington law, funds in any account dormant for three years are forwarded to the state Department of Revenue as unclaimed property.
Does this mean you no longer have this money after three years? Patti Wilson, operations manager of the Department of Revenue’s unclaimed property section, said there’s no need to panic. “They can always get their money, there are no time limits,” she said.
The law, she said, is intended to protect consumers. “People die, people move, they forget about accounts,” Wilson said. “Otherwise, those banks continue to charge fees until there is nothing left.”
{"id":85,"date":"2006-01-19T01:03:07","date_gmt":"2006-01-19T06:03:07","guid":{"rendered":"http:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/unclaimed-property\/washing-has-laws-on-dormant-acounts"},"modified":"2006-01-19T01:03:24","modified_gmt":"2006-01-19T06:03:24","slug":"washing-has-laws-on-dormant-acounts","status":"publish","type":"post","link":"https:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/unclaimed-property\/washing-has-laws-on-dormant-acounts","title":{"rendered":"Washington has laws on dormant accounts."},"content":{"rendered":"\n\n\t<\/p>
Under Washington law, funds in any account dormant for three years are forwarded to the state Department of Revenue as unclaimed property. <\/p>\n\n\t
<\/p>
Does this mean you no longer have this money after three years? Patti Wilson, operations manager of the Department of Revenue’s unclaimed property section, said there’s no need to panic. “They can always get their money, there are no time limits,” she said.<\/p>\n\n\t
<\/p>
The law, she said, is intended to protect consumers. “People die, people move, they forget about accounts,” Wilson said. “Otherwise, those banks continue to charge fees until there is nothing left.”<\/p>\n\n