How to reclaim unclaimed funds from a closed bank account?

About 10 years ago, I closed a bank account and was given a cashier’s check, but I never deposited it. Unfortunately, I lost the check, and now I’m getting letters from a lawyer saying they can help me access the money if I sign it over to them. It sounds suspicious to me.

I contacted the bank, but they said they have no record of the account since it was closed so long ago. Does anyone know how I can claim this money without getting scammed? I’d appreciate any advice on the process.

Have you checked your state’s unclaimed property website?

Kumi said:
Have you checked your state’s unclaimed property website?

Yes, OP should check their state’s unclaimed property site. Banks only hold records for a certain number of years before turning over unclaimed funds to the state.

The money should be with the state by now.

Kumi said:
Have you checked your state’s unclaimed property website?

That’s how I found money for myself, my partner, and a few family members. It added up to over $2500. Every state has a site for this.

Kumi said:
Have you checked your state’s unclaimed property website?

I had no idea about this. I’ll check it out!

It’s not really a scam. The lawyer is just charging you for something you can do yourself.

Go to your state’s unclaimed property website, search your name, and follow the steps. If you had accounts in other states, check those too. The funds from the cashier’s check were likely turned over to the state years ago.

@Mai
Exactly this.

@Mai
I get why people call it a scam—it works by hoping OP doesn’t realize they can do it themselves for free.

If you’re in California, go to the state’s unclaimed funds website and check there.

Sal said:
If you’re in California, go to the state’s unclaimed funds website and check there.

Or check the state where the funds were originally escheated.

Sal said:
If you’re in California, go to the state’s unclaimed funds website and check there.

Thanks for the tip!

There are companies that scan unclaimed property databases and send letters offering to ‘help’ people claim their money—for a fee. But you can do it yourself for free.

If you get a letter like this, take it as a sign that you probably have unclaimed funds. The trick is figuring out which state the money was sent to. You can check all states at once using this site:

https://missingmoney.com/

I’ve used it before, and most states make it easy. Some require extra steps, but usually, you just submit a form and get a check in a few weeks.

Go to your state’s unclaimed property page. That’s where the money should be.

https://www.missingmoney.com
Use this site to check. I’ve been in banking for over 30 years and used to handle unclaimed funds. No need to pay someone for something you can do yourself.

@Ari
Appreciate it, thank you!

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BillSmith said:
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When a cashier’s check isn’t cashed after a certain period, the bank is required to send the funds to the state. The money then sits in the unclaimed property database until someone claims it.

@Shea
Did not know that, interesting.

You don’t need a lawyer for this. Just check your state’s unclaimed property site. I’ve done it a few times and always got my money back.