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How does an account become unclaimed?

April 26, 2017account unclaimed

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10 Posted

How does an account become unclaimed?

1 Answer

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10 Posted

After 2 years of inactivity the bank the funds are located at will try to contact the owner at the address they have on record. They make another attempt after 5 years. After 10 years of inactivity if the owner has not been found the account is then turned over to the government.