Which States Escheat Laws Govern? - Bankers Online Which State's Escheat Laws Govern? - 01 21 0504:13 PM If we are merging an Alabama Bank with a Florida Bank within our Holding Company and the Florida Bank will be the surviving Charter, how will this affect escheatment? Specifically, Florida states 5 years on its disclosure and Alabama states 3 years We need to know so we can update the parameters in our shared computer system Posted By
Unclaimed law - Official Checks | For Bankers. From Bankers We have been issuing official teller checks for three years and are coming up on the time we will need to escheat uncashed checks By state law we are attempting to provide due diligence notifications to the quot;owner quot; of the check However, we are trying to determine whet
Dormant Account Reactivation | For Bankers. From Bankers Can anyone tell me what their current procedures are for notifying and reactivating dormant accounts? I am a new compliance officer in Texas and would like to compare notes
Cashiers Check-unclaimed property | For Bankers. From Bankers You need to follow the guidelines from the State, three years is correct for cashiers checks You might want to look at your outstanding checks on a regular (we use 6 months) basis Whenever possible we try to contact the remitter if the check isn't cashed in a timely fashion, definitely before it becomes escheat property Return to Top #128005 - 01 30 0405:42 PMRe: Cashiers Check-unclaimed
Escheat Cashiers Checks | For Bankers. From Bankers If you have a Cashiers Check due to Escheat which was purchased by a customer who stilll has accounts with you can you give the funds back to the customer? They are listed as remitter on the check and the funds came from there account
Minimum balance to escheat an account? | For Bankers. From Bankers When it comes to escheating dormant accounts to the bank, is there a minimum account balance? Meaning, if the minimum balance to escheat was, say, $50, and you have a dormant account with a balance of $2, would you still have to escheat that $2 account?OR, do you have to escheat dormant a