Lost Track of One of Your Bank Accounts? Here's How to Find It

Losing track of an old bank account might sound laughable: Who just forgets about a bunch of their own money? But it happens more often than you think. Perhaps a relative opened a bank account for you as a child and you never knew about it. Or maybe you opened a certificate of deposit (CD) yourself years ago and forgot you'd done so. Or you might be the executor of a loved one's will and come across a bank statement in their name for an unfamiliar account.

It can happen in a lot of ways. But the end result is still the same. Your money's missing and you need to find it. So here's what you need to do.

Review your personal documents

It's best to begin by gathering evidence if you can't remember which bank you had the checking or savings account through. Go back through your old papers and look for any documentation you have related to the old bank account. Anything you're able to turn up, even just the name of the bank or an account number could be helpful.

If you're searching for a bank account belonging to someone else -- for example, if the person is deceased and you're the heir to their estate -- it's also a good idea to take this time to gather the documentation you'll need to prove your relationship to that person. You'll need to provide this before the entity that has the funds will relinquish them to you.

Contact the bank

If you think you know which bank held the account, your first step should be to reach out to that bank directly. Ask if it has any accounts in your name or the name of the person you're looking for. If the money is there, the bank should be able to assist you in accessing or transferring the funds as needed.

It may also be able to tell you if the account was closed, though it may not have records of closures from many years ago. Sometimes, unclaimed bank account funds wind up being transferred to the state, which we'll discuss below.

Things can be a bit more complicated if the bank you had the account through is no longer around. When banks fail, the Federal Deposit Insurance Corporation (FDIC) steps in to ensure that depositors don't lose their money. It may hold the old bank's accounts or it may transfer them to a new bank. If you're looking for money held at a failed bank, your best starting point is FDIC Unclaimed Funds.

Check with your state

All states have rules requiring banks to transfer unclaimed funds from abandoned accounts after a certain length of time, usually three to five years. In the case of a failed bank whose accounts the FDIC took over, abandoned account funds could wind up in the state's hands in as little as 18 months.

You can locate these funds using your state's unclaimed property search tool. You enter your name or the name of the person you're looking for to see if any matches come up. If you've legally changed your name, it's best to check all of your names to ensure you don't miss anything.

If you find any, you'll need to file a claim with the state to get those funds. This involves proving that you're the account holder or a representative of the account holder who has a legal right to access those funds. The whole process can take some time. If you run into any questions, reach out to your state for guidance.

What if you still can't find your money?

It's frustrating, but sometimes you just can't track your missing money down, even following the above steps. You or the account holder may have closed the account long ago and forgotten about it. Or maybe the money is still out there somewhere. Keep checking around for any documents you may have or reach out to family members if you think they might have a lead for you. Hopefully, you'll turn up something eventually.