Unclaimed Bank Account Search - Find a Lost Bank Account or Unclaimed Safe Deposit Box

Bank accounts are considered abandoned if a deposit or withdrawal is not made over a period of time, generally from one to five years. This may be true even in cases where CD's (Certificates of Deposit) automatically roll-over, because this is not considered to be owner-directed activity.

Even in the event the bank failed and closed its doors, do not necessarily assume your funds are lost forever. For those who owned accounts at a branch no longer in existence, the funds may well have been transferred to a successor bank after a merger or acquisition.

Under the terms of the Financial Institutions Reform Recovery & Enforcement Act of 1989 (FIRREA), the FDIC administers three insurance funds responsible for protecting depositors in banks and thrifts from losses when institutions fail: the Bank Insurance Fund (BIF); Savings Association Insurance Fund (SAIF); and the FSLIC Resolution Fund (FRF).

There has been at least one failure every year since operations began in 1934, with more than 1,400 banks and 700 savings institutions closing between 1982 and 1992 alone. FDIC has taken custody of several hundred million dollars worth of insured accounts over the years, and currently has files on approximately 543,000 unclaimed accounts.

Note unclaimed credit union shares are handled by a separate federal agency, the National Credit Union Administration. NCUA is an independent agency that supervises and insures over 7,329 federal credit unions and 4,538 state-chartered credit unions. When a federally-insured credit union is liquidated, the NCUA assumes responsibility for paying share accounts to members up to a $100,000 limit. Since 1990, more than $331 million has been paid out to well over 100,000 shareholders.

For assistance tracking down funds from closed banks and credit unions, or to trace an unclaimed account or safe deposit box lost after a merger or acquisition go to: Unclaimed Bank Account Search

Special Note: Each year, thousands of safe deposit boxes go unclaimed after the death of the owner. Upon non-payment of rent due, banks open abandoned boxes and remit contents to state custody. Claims should be made promptly, as contents may be sold at auction after a period of time. Go to: Safe Deposit Search

	Federal Deposit Insurance Corporation (FDIC) - Dormant Bank Accounts