Rates Current as of Friday February 10, 2012

Under escheatment laws, when a bank account has been dormant for a certain period of time, the money reverts to the State treasurer. Generally, an account is considered dormant when it has had no activity, deposits or withdrawals, for 5 to 7 years. The length of time necessary to declare an account dormant is defined by State statute. Most States require that the bank send notice of the impending transfer of funds to the account holder. The notice is sent to the last address of record on the bank’s books.

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