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How Can I find an Old Bank Account?
7/18/13 | lafroste

Posted on 07/18/2013 8:49:19 AM PDT by lafroste

Hello all. I have an interesting problem. Apparently my mother started a savings account for my son when he was born. The last statement date is 6/30/98. The bank she used no longer exists. My mother passed 8 years ago. Anyone have any ideas of where that money went or how I can retrieve it?


TOPICS: Business/Economy; Reference; Weird Stuff
KEYWORDS: vanity

1 posted on 07/18/2013 8:49:19 AM PDT by lafroste
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To: lafroste

It’s been turned over to the state, they’re going to keep it.


2 posted on 07/18/2013 8:50:24 AM PDT by Shimmer1 (Disarming innocent people does not protect innocent people.)
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To: lafroste

If the bank shut down then the remaining funds may be held by the state.


3 posted on 07/18/2013 8:50:48 AM PDT by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: lafroste

Contact the Secretary of State or the banking regulator in your state.
If the bank went out of business, the accounts were likely transferred to a nearby bank.


4 posted on 07/18/2013 8:50:53 AM PDT by Eric in the Ozarks (NRA Life Member)
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To: lafroste

http://www.nctreasurer.com/Claim-Your-Cash/Claim-Your-NC_Cash/Pages/Search.aspx


5 posted on 07/18/2013 8:51:10 AM PDT by LibWhacker
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To: lafroste

I think there is a number you can call with the state that has unclaimed funds that they hold for a certain period of time.

Call your state Attorney General’s Office, Bureau of Consumer Affairs for a place to start looking.


6 posted on 07/18/2013 8:51:38 AM PDT by headstamp 2 (What would Scooby do?)
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To: lafroste

Each state has an unclaimed property department, where you can make this type of claim. You’ll need proper documentation, but it shouldn’t be too difficult. Good luck!


7 posted on 07/18/2013 8:51:39 AM PDT by Rightwingacademic
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To: lafroste
Found this link:

http://www.ehow.com/how_5523399_old-bank-accounts.html

8 posted on 07/18/2013 8:51:57 AM PDT by mass55th (Courage is being scared to death - but saddling up anyway...John Wayne)
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To: lafroste

Contact your state treasurer’s office or your state’s secrtary and ask for the unclaimed property division. Then inquire about any of her unclaimed accounts or assets that the state may have taken custody of by default.


9 posted on 07/18/2013 8:52:21 AM PDT by Obadiah (Inside of every Liberal beats the heart of a fascist yearning to reveal their true nature.)
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To: lafroste
http://www.unclaimed-property-finder.com/?lt=money

Try the unclaimed money site at the US Treasury site above.

Is there a bank still located at the address on the last statement? If so, that's probably the bank which bought out the old one. Do a search online for the HQ of the old bank or find articles that will have info on the new owners.

10 posted on 07/18/2013 8:52:35 AM PDT by bgill (This reply was mined before it was posted.)
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To: lafroste

Most states passed laws that money in inactive accounts goes to the state, but can be recovered by an account holder if they make an inquiry to the state about it. It doesn’t matter if the bank still exists or not.

I have done this myself, to an old account I abandoned in Texas with perhaps $50 in it. Texas has a website to recover such money, and promptly returned it.


11 posted on 07/18/2013 8:52:54 AM PDT by yefragetuwrabrumuy (Best WoT news at rantburg.com)
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To: lafroste

Here in MA, anything like that is tranferred to what’s called Abandoned Property and stays there until somebody claims it. I can go to a website and file a claim. Your state may have something similar.


12 posted on 07/18/2013 8:53:15 AM PDT by cotton1706
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To: lafroste

Wow, in five minutes I have excellent starting points. You guys are great!


13 posted on 07/18/2013 8:57:29 AM PDT by lafroste
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To: lafroste

In most states, unclaimed money becomes state property if there has been no activity in an account (deposits or withdrawals) after a certain number of years. Usually the state “advertises” the unclaimed property in a newspaper (nowadays probably on a website) then transfers the money to the general fund. With 15 years gone by, the odds of you recovering the money are zero.


14 posted on 07/18/2013 8:58:56 AM PDT by Klaatu Barada Nikto (Liberty is not a Loophole)
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To: Shimmer1

The state doesn’t keep the money. They hold it in escrow. The is usually a web site that you can go to and when your relationship is proven, then the state will remit the money to you.


15 posted on 07/18/2013 9:02:19 AM PDT by Parmy
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To: lafroste
I'd start by Googling the name of the bank with the name of its main office city, if you can guess at it. It's very possible the bank was merged with another or acquired. The accounts would have been transfered to the successor banks.

The banking department of the state could then help you further to identify the bank that holds the account today.

What puzzles me is why the mailings to your mom stopped back in 1998, did something happen to her at that time? The successor bank would have sent account-holders a letter announcing the change. Is it possible that your mom cashed in the account?
16 posted on 07/18/2013 9:04:19 AM PDT by kenavi (Debunk THIS!)
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To: lafroste

Just in case your mom’s account was somewhere other than North Carolina:

http://www.freeadvice.com/resources/unclaimed_property.htm


17 posted on 07/18/2013 9:04:45 AM PDT by LibWhacker
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To: lafroste
Big questions to ask yourself:

  1. Is 1998 the last statement you have? Or the last transaction?
  2. In what state was the bank account located? Most have a ten year time clock from the date of the last transaction before the state can escheat (legally steal) it. In some states (mostly of the greedy libtard variety), that period can be as little as three years.
  3. Even if the funds have been escheated, some states allow you to claim them back from the general fund if you can prove ownership. A 1998 bank statement is a good place to start. I'd call the treasury department in the state where the account was located.
  4. If the bank no longer exists, find out who acquired it. Sometimes, they leave the location in place (same state), sometimes they close it and move the accounts to a new state. The escheat laws of the new state will apply in this case.

18 posted on 07/18/2013 9:08:35 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Shimmer1; lafroste
If it has been turned over to the state, you can find out. Do a search on "unclaimed property" and the state where the account was established. Usually, the state will have an official page, or send you to a third party, it should be free.

Otherwise, if you know the bank's name from the statement, you can look up where their assets went.

Heh, heh. Assets...

19 posted on 07/18/2013 9:09:55 AM PDT by IYAS9YAS
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To: kenavi

” It’s very possible the bank was merged with another or acquired. The accounts would have been transfered to the successor banks.”

If you can find that out, and there’s a local branch,,,, drop in and speak to the branch manager. They’ve always been friendly and helpful to me. Easy way to get started along the right path.


20 posted on 07/18/2013 9:10:02 AM PDT by Dr. Bogus Pachysandra ( Ya can't pick up a turd by the clean end!)
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To: kenavi; lafroste

an example ... Wachovia was taken over by Well Fargo.

“the bank does not exist anymore” ... not usually accurate. It didn’t vaporize.

In that case above, go to Well Fargo.


21 posted on 07/18/2013 9:13:43 AM PDT by campaignPete R-CT (we're the Beatniks now)
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To: lafroste
The Department of the Treasury in the state where the bank account was held will have a Lost Property or Unclaimed Property Division, usually online. You can even apply online.

You will need your mother's SSN and address at the time, and any other addresses you can remember. Typically, they will ask for 2 proofs of death (death cert and obituary), the names of any executors and any estate tax ID number, driver's licence of the applicant and/or executor, and a list of all heirs, so that one sibling can't just help him- or herself if there were five siblings or designated charities in a will.

22 posted on 07/18/2013 9:18:12 AM PDT by Albion Wilde ("Remember... the first revolutionary was Satan."--Russian Orthodox Archpriest Dmitry Smirnov)
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To: lafroste; Revolting cat!

If you are in Nigeria, I can help.


23 posted on 07/18/2013 9:20:18 AM PDT by a fool in paradise (America 2013 - STUCK ON STUPID)
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To: Parmy

Ok, thanks for the info. I hope it turns out that way for our fellow FReeper. :)


24 posted on 07/18/2013 9:22:53 AM PDT by Shimmer1 (Disarming innocent people does not protect innocent people.)
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To: driftdiver

Check the Unclaimed Funds division of the state comptroller / board of equalization


25 posted on 07/18/2013 9:23:28 AM PDT by jsanders2001
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To: lafroste

Look for a link for “abandoned property” in the state in which the account was established. The state government should have a clearinghouse for abandoned property, and you should be able to find info about how to retrieve the property.


26 posted on 07/18/2013 9:32:37 AM PDT by NEMDF
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To: lafroste; All

Didn’t find the account I was looking for but found 2 accounts for my other son, and 3 accounts for my deceased brother.


27 posted on 07/18/2013 10:00:15 AM PDT by lafroste
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To: Klaatu Barada Nikto
With 15 years gone by, the odds of you recovering the money are zero.

My mother bought a $1000 paid up life insurance policy for me and each of my three siblings at birth. I was born in 1943 (youngest of the family) and was well into my 60s when I checked the Wisconsin "Unclaimed funds" web site, and sure enough there was about $2500 sitting there under my name. My sister (oldest of the 4 of us) was born in 1932 and she also had cash waiting. My two brothers did not have a forgotten legacy, I'm guessing they had cashed out earlier.

It least in Wisconsin the unclaimed cash is your's to find for a lot longer than 15 years.

Regards,
GtG

28 posted on 07/18/2013 11:26:04 AM PDT by Gandalf_The_Gray (I live in my own little world, I like it 'cuz they know me here.)
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To: lafroste

Check your state’s office of abandoned property. They should have a record of the account and a claims procedure. Many states now put the information online.


29 posted on 07/18/2013 3:23:21 PM PDT by Rockingham
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