Search FDIC Database for Unclaimed Funds

Posted by:

|

On:

|

If you have ever had a bank account or credit union account that has been closed due to a bank failure, you may be wondering if you are entitled to any unclaimed deposits. Fortunately, the Federal Deposit Insurance Corporation (FDIC) has a database that you can search to see if there are any unclaimed funds from a closed financial institution.

Unclaimed Deposits from Bank Failures

When a financial institution fails and is closed, all deposits are insured by the FDIC up to a certain amount. This means that if you had any deposits in the closed institution, the FDIC will reimburse you for the amount of the deposit up to the insurance limit. However, if the deposits are not claimed, they may remain unclaimed and the FDIC will hold them in the Unclaimed Deposits Fund.

Search the FDIC Database for Unclaimed Funds

The FDIC has a database that you can search to see if there are any unclaimed deposits from closed financial institutions and credit unions. To search the database, you will need to provide your name, address, and other identifying information. Once you have entered this information, the database will search for any unclaimed deposits that might belong to you.

If the database finds any unclaimed deposits, you will need to provide documentation to prove that the deposits belong to you. This could include bank statements, account numbers, or other documents that prove that you had an account with the failed institution. Once you have provided the necessary documentation, the FDIC will process your claim and release any unclaimed deposits to you.

If you had an account with a financial institution or credit union that has since failed, it is worth your while to search the FDIC database for any unclaimed deposits. You may be entitled to a refund of the amount of your deposit, up to the FDIC insurance limit. To begin your search, you will need to provide your name, address, and other identifying information. Once you have done this, the FDIC will search its database for any unclaimed deposits that might belong to you.