GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Citibank closed my bank account and stole my money because it was inactive WTF!!

Phil21 · 01-19-2009, 11:23 AM

Depending on the state, it may not be the banks fault. If they had proper contact information and didn't send you something, I feel it's pretty shady. Legally they are required (usually, depends on the state) to both contact you at your last known address, and/or publish your name in a local newspaper.

Your money is still around. At least if you were a US citizen it would be, I guess I'm unsure about foreign-owned accounts but I assume it would be the same?

Google escheatment if you like.

Or also, a decent URL that sums it up (fairly accurately as far as I can tell) - http://www.helpwithmybank.gov/faqs/b..._inactive.html

You may disagree with the laws, but they exist for a reason. Whether those reasons are valid or not is up for debate

-Phil

Edit: The reason it's not the banks fault, is that many states legally require banks to turn over accounts to the state if they are inactive (read: no deposits or withdrawals) for more than X years. X is usually 3 or 5 years, from some brief googling.

01-19-2009, 11:23 AM
Phil21 Confirmed User Join Date: May 2001 Location: ICQ: 25285313 Posts: 993	Depending on the state, it may not be the banks fault. If they had proper contact information and didn't send you something, I feel it's pretty shady. Legally they are required (usually, depends on the state) to both contact you at your last known address, and/or publish your name in a local newspaper. Your money is still around. At least if you were a US citizen it would be, I guess I'm unsure about foreign-owned accounts but I assume it would be the same? Google escheatment if you like. Or also, a decent URL that sums it up (fairly accurately as far as I can tell) - http://www.helpwithmybank.gov/faqs/b..._inactive.html You may disagree with the laws, but they exist for a reason. Whether those reasons are valid or not is up for debate -Phil Edit: The reason it's not the banks fault, is that many states legally require banks to turn over accounts to the state if they are inactive (read: no deposits or withdrawals) for more than X years. X is usually 3 or 5 years, from some brief googling. __________________ Quality affordable hosting. Last edited by Phil21; 01-19-2009 at 11:25 AM..