The financial institution's policy regarding accounts deemed inactive was previously established Charna Flam is a writer-reporter at PEOPLE. She has been working at PEOPLE since 2023. Her work has ...

Bank of America (BoA) has issued a warning that could affect millions of account holders: inactive or “abandoned” accounts may be closed or have their funds transferred to state custody under ...

Bank of America customers across the country could be at risk of losing access to their funds if they fail to meet certain activity requirements. The financial institution has confirmed it will close ...

The term escheatment refers to the legal process where unclaimed or abandoned property is transferred to the state for safekeeping. This process ensures that assets are not left in limbo indefinitely.

If you’re not actively using your Bank of America account, there may be a chance it’s at risk of being closed. While this might be concerning, there are specific steps you can take to keep your ...