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Not only does money go to the state if the account is inactive, but many banks start to charge a monthly fee if there is no activity on the account, so you wouldn't even get your original amount held for you by the state.
Bankof america and others already charge a fee if there is no direct deposit from a job. Doesnt even need to be inactive for themto take money from it
to funny , i went on missingmoney.com and found i have some check a store sent us in 2007 as a refund of a sort for some furniture we bought when we had the house in pennsylvania.
How else would they make money? They should charge smaller relationships min fees or inactivity fees
Is this a serious question? Banks should make money off of investing the money they are holding for customers. Since the banks are not really able to sustain this business model they now have to charge their own customers for bs.
Is this a serious question? Banks should make money off of investing the money they are holding for customers. Since the banks are not really able to sustain this business model they now have to charge their own customers for bs.
And if you have no money in your account they have nothing to invest. Yes it's a serous question and no you aren't owed free banking or have a company provide you service for free.
Usually the institution will attempt to make contact with the owner of the account because I believe after 7 years then the funds are turned over to the state then you would have to claim funds that route. Probably best to deposit a dollar into the account every so after to keep it active but in today's banking world I'm sure they have "dormant account fee" that will nickel and dime the account.
to funny , i went on missingmoney.com and found i have some check a store sent us in 2007 as a refund of a sort for some furniture we bought when we had the house in pennsylvania.
.
my dad seems to be owed some money. i find it strange that they have his correct current address listed there so they should have been able to find him.
my dad seems to be owed some money. i find it strange that they have his correct current address listed there so they should have been able to find him.
They aren't in the business of finding people, they'd rather hold your money
If you want extreme examples: There are scenarios with people who held very old stocks of companies before they split and stuff and were awarded millions.
IF your grandpa had an single certificate of Coca Cola in early 1900s, you would probably be very rich man today.
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