You can start by reaching out to the institution and asking whether they have an account in your name or in the name of the person who owns or owned the account. A common reason someone may be searching for a lost account is because they are the executor of a deceased person’s estate or the caretaker for an ill relative or friend, and have come across a bank statement, certificate of deposit, or statement related to a safe deposit box in their loved one’s name. For instance, you may have opened an account designed for medium- to long-term saving, like certificates of deposit (or CDs), and then forgotten about it. It might seem impossible to misplace money or forget about a safe deposit box, but it happens to many of us. Escheatment is the transfer of unclaimed funds or property to a state government.
You may be wondering, how can I locate and retrieve money from my long lost account? To learn how, you need to know something about escheatment. Or maybe you’ve just come across an unfamiliar bank statement or receipt from a safe deposit box.
You think you have some money at a bank, but you can’t quite remember where it is.
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