Every 6 months I make a deposit in my daughters savings account. I also do nominal transfers between other accounts to ensure they are kept active.
It has happened to me. I won’t go into details.
Making accounts go dormant, and now problems with my social security checks. It’s a huge job sorting things out at my age.
I know it would be a burden/s but how do billionaires or millionaires keep this from happening. They would probably have them in a lot of different accounts in amounts small enough to be covered by the bank insurance.
So I researched this with another friend who worked in PA in the unclaimed. Department. He said when PA confiscates stock they must sell it immediately to lock down the value.
Gov. Arnold Schwarzenegger........
He was ok with banks stealing from the depositors when news came out when he was gov that they were stealing. The banks said they could not locate the customers yet the reporters had no trouble finding them.