Unclaimed Bank Accounts in Maryland: Why They Happen and How to Claim Your Money

Unclaimed money in Maryland often includes old bank accounts, CDs, cashier’s checks, and other forgotten funds. Many people are surprised to discover that money in their name has been turned over to the state because a bank or financial institution could no longer reach them.

This guide explains, in plain language, how unclaimed bank accounts work in Maryland, how they end up with the state, and what you can do to search for and claim your funds through official channels. HowToGetAssistance.org is an informational site only; it is not a government office and cannot process claims or check your status.

You will find here what to expect and what to prepare before you contact the official Maryland unclaimed property office or other government resources.

What Is an Unclaimed Bank Account in Maryland?

An unclaimed bank account is typically a:

• Checking account
• Savings account
• Money market account
• Certificate of deposit (CD)
• Cashier’s check or official bank check
• Safe deposit box contents (the contents themselves, not the box)

that has had no owner-initiated activity for a certain period, and the bank has lost contact with the owner.

In Maryland, as in most states:

• After a period of inactivity (often a few years), the bank is required to treat an account as “dormant” or “abandoned.”
• If they cannot reach you, they must turn the funds over to the State of Maryland as unclaimed property.
• The state does not take ownership of the money in a permanent sense. It holds it for you (or your heirs) until someone files a valid claim.

How Do Bank Accounts Become “Unclaimed”?

Unclaimed accounts are usually the result of normal life events rather than anything suspicious. Some common reasons include:

1. Moving Without Updating Your Address

People often:

• Move to a new apartment or home
• Change states for work or school
• Stay with family temporarily

If you don’t update your mailing address, email, or phone number with your bank, important notices can bounce back. Over time, the bank may mark your account as inactive.

2. Changing or Closing Other Accounts

Sometimes, people:

• Open a new primary account at another bank
• Forget about a small backup savings account
• Leave a small balance after switching banks

If no withdrawals, deposits, or other owner-initiated actions happen on the old account for years, it can become unclaimed.

3. Automatic Deposits or Payments Stopped

If your:

• Direct deposit changes employers
• Government benefit is redirected to another account
• Automatic bill payments are canceled

…the old account may quietly sit unused. If there are no deposits, withdrawals, or contact with you, it may be reported as unclaimed.

4. Death of the Account Owner

When someone dies, their survivors may not know:

• All of the person’s bank accounts
• Where CDs or money market accounts are held
• That there is a beneficiary listed

If no one contacts the bank and no activity occurs, the funds may eventually be turned over to the State of Maryland as unclaimed property.

5. Name Changes or Life Transitions

Unclaimed funds can show up under:

• A maiden name
• A previous married name
• A misspelled name

If you changed your name and did not update every bank or financial institution, it may be harder for them to locate you over time.

How Long Before a Bank Account Becomes Unclaimed in Maryland?

The exact “dormancy period” can vary by type of account and by state law. In many cases:

• Regular bank accounts become unclaimed after around 3 to 5 years of no owner activity.
• Certificates of deposit (CDs) often use the maturity date as the starting point for the dormancy clock.
• Safe deposit boxes can have different timelines.

Because rules can change, it is important to check with:

• Your specific bank, and
• The official Maryland unclaimed property office

for the current dormancy periods and requirements. When in doubt, the state office can usually explain how a specific type of account is handled.

Who Handles Unclaimed Bank Accounts in Maryland?

In Maryland, unclaimed bank accounts and other abandoned funds are generally handled by the state’s unclaimed property program, typically run by the Maryland Comptroller’s Office or a similar state financial agency.

Key points:

• Your bank sends the money (or, for safe deposit box items, the contents) to this state office after the dormancy period.
• The state then lists the property by name and last known address.
• The money remains available to be claimed by:
  • The original owner
  • A rightful heir or estate representative
  • A legal entity (such as a business) that owned the account

HowToGetAssistance.org does not receive these funds and cannot claim them on your behalf. All claims must go through official Maryland channels.

How to Search for Unclaimed Bank Accounts in Maryland

You can usually search for unclaimed property tied to your name using your state’s official tools. The typical steps in Maryland look like this:

1. Gather Basic Information

Before searching, it helps to have:

• Full legal name (and any past names)
• Middle initial or full middle name (if commonly used)
• Current and past addresses in Maryland
• Approximate years you lived or banked in Maryland

If you are searching on behalf of someone else, you might need:

• Their full name
• Their date of birth
• Their last known Maryland address
• Proof of your authority to act for them (for example, executor or personal representative documents)

2. Use Maryland’s Official Unclaimed Property Search

Most states, including Maryland, offer a free online search tool on their official government website. To find the correct site, you can:

• Look for the official Maryland state portal and navigate to “Unclaimed Property,” or
• Call the Maryland Comptroller’s Office and ask how to search for unclaimed property

You typically enter:

• Last name
• First name
• Optionally, city or ZIP code

The system then shows any possible matches.

3. Review the Search Results Carefully

For each item, you may see:

• The owner name
• The reported address
• The type of property (such as “bank account,” “checking,” “savings,” or “CD”)
• The name of the reporting institution (bank or financial company)

You then select entries that appear to belong to you or the person you represent.

How to File a Claim for Unclaimed Bank Accounts in Maryland

Once you identify a potential match in the official Maryland system, the next step is usually to submit a claim through the state’s process.

Typical Claim Steps

While details can change, Maryland claims often involve:

1. Select the property to claim

   • On the official state search portal, you generally click something like “Claim” or “Start Claim.”

2. Provide your contact information

   • Name
   • Mailing address
   • Phone number
   • Email address

3. Confirm your relationship to the property

   • Owner
   • Heir
   • Executor, personal representative, or legal guardian
   • Business owner or authorized officer (if the account was in a business name)

4. Submit supporting documents

   • This may be done online, by mail, or sometimes by email or fax, depending on Maryland’s current procedures.

5. Wait for review

   • The state will verify your identity and your right to the funds, and then issue payment if approved.

You are generally not charged a fee by the State of Maryland to submit a claim. If you are ever asked to pay an upfront fee to “unlock” or “release” unclaimed property, it is a sign you should verify that you are working with an official state office and not a private third party.

Documents You May Need to Claim Unclaimed Bank Accounts

The exact documents depend on:

• Whether you are the original owner
• An heir or estate representative
• A business representative

Below is a simple comparison to help you prepare.

Common Documentation Overview

Maryland’s unclaimed property office may list specific acceptable documents on its official website or claim form. If anything is unclear, calling the office can help you avoid delays.

How Long Does It Take to Get Your Money?

Processing time can vary based on:

• The volume of claims the state is handling
• Whether your paperwork is complete and clear
• How complicated your situation is (for example, heirs and estates can take longer)

Typical time frames may range from a few weeks to a few months. If additional documentation is needed, the state may contact you by mail, email, or phone (as you indicated in your claim).

To avoid delays, make sure:

• All forms are filled out completely
• You provide legible copies of documents
• Your current contact information is accurate

If you have questions or if you think your claim is taking unusually long, you can contact the Maryland unclaimed property office directly using the phone number or mail address provided on their official state website.

Common Reasons Claims Get Delayed or Denied

Knowing common issues can help you avoid problems.

1. Incomplete or Missing Documents

Claims often stall when:

• Identification is missing
• Proof of address does not match the old record
• Estate documents are not provided for deceased owners

✅ Tip: Before submitting, compare your documents to the instructions on the official Maryland claim form and make sure each requirement is covered.

2. Name or Address Mismatches

Problems can arise if:

• The record shows a maiden name, but your ID has your married name
• Addresses are off by an apartment number or old street name
• The name is misspelled

✅ Tip: Include supporting documents that show the connection, such as marriage certificates, old utility bills, or any document showing your prior name and address.

3. Unclear Relationship to the Deceased

For heirs:

• The state needs to confirm who the legal heir or estate representative is.
• If several relatives are involved, more documentation may be needed.

✅ Tip: Have probate documents, letters of administration, or court orders ready, and ask the unclaimed property office what they require for your specific situation.

4. Submitting Through Non-Official Channels

If you accidentally submit information through a non-government website that is not the official Maryland portal, your claim might not reach the state.

✅ Tip: Always verify you are on an official Maryland government site (look for clear references to the State of Maryland and the appropriate state agency), or call the state office directly to confirm the process.

Are There Deadlines to Claim Unclaimed Bank Accounts?

In many states, including Maryland, unclaimed property laws are designed so that:

• The state holds the funds indefinitely for the owner or rightful heir.
• There is usually no strict deadline for you to file a claim once the state has the money.

However:

• If the account is still at the bank and has not yet been turned over, the bank may have its own deadlines or fees for dormant accounts.
• For safe deposit box contents, physical items may eventually be auctioned, but the proceeds from the sale are usually held for the owner.

To get accurate details for your situation, contact:

• Your bank, if you think the account has not yet been turned over, and
• The Maryland unclaimed property office, if the account is already listed as unclaimed property.

Special Situations: Safe Deposit Boxes and CDs

Safe Deposit Boxes

When a safe deposit box is considered abandoned:

• The bank may drill the box, inventory the contents, and send them to the state unclaimed property office.
• The physical items may be held for a time, then sometimes sold at auction.
• The cash value from the sale is held for the rightful owner or heirs.

When claiming safe deposit box contents or proceeds, you may need to:

• Provide proof of identity
• Provide proof of relationship if the box owner is deceased
• Complete additional forms if required by the state

Certificates of Deposit (CDs)

CDs can become unclaimed if:

• They reach maturity and are not renewed or cashed
• The bank is unable to contact the owner
• No instructions are provided over time

The state will typically list the principal plus any applicable interest that was transferred. To claim, the process is usually similar to other bank accounts, but you may see the property listed as a CD or time deposit on the state’s unclaimed property search.

How to Verify You Are Using Official Maryland Channels

Because unclaimed property searches are popular, some private companies and websites may:

• Charge a fee to help you locate or claim your funds
• Ask for personal information but are not official state portals

To protect yourself:

1. Look for Clear Government Identification

On websites or forms, look for:

• References to the State of Maryland
• A state government seal or logo
• A web address clearly tied to Maryland government (you can confirm this independently by checking through a trusted search for the Maryland comptroller or state treasury site)

2. Confirm by Phone

If you are unsure whether a site is official, you can:

• Call the Maryland Comptroller’s Office or the Maryland unclaimed property office using a phone number found through a trusted source (such as the main Maryland government directory).
• Ask them to confirm:
  • The correct website for unclaimed property
  • The official mailing address
  • The acceptable ways to submit documents

3. Be Cautious About Fees

The state itself generally does not charge a fee to:

• Search for unclaimed property
• File a claim

If someone:

• Promises to get your money faster for a fee, or
• Demands upfront payment to check for unclaimed accounts

…it is a sign to slow down and verify who they are. In Maryland, as in many states, there are rules about how third-party “finders” or “locators” can operate, including caps on fees and requirements for written contracts.

You are always allowed to file a claim yourself directly with the state at no charge, using the official process.

What If You Don’t Find Anything in Maryland?

If your Maryland search turns up no results, consider:

1. Searching other states

   • If you have lived, worked, or banked in other states, each state may hold separate unclaimed property under your name.
   • You can visit the official unclaimed property section of each state where you have ties and search there.

2. Checking under different names

   • Try:
     • Maiden names
     • Former married names
     • Common nicknames or initials

3. Verifying old accounts directly with banks

   • If you recall a specific bank or credit union, you can contact them directly and ask:
     • Whether the account was closed
     • When and if funds were turned over to Maryland as unclaimed property

4. Rechecking later

   • Banks and institutions report unclaimed property periodically, not every day.
   • If an account becomes unclaimed after your first search, it may show up at a later date.

Alternatives and Next Steps If You Need Financial Help Now

Unclaimed bank accounts can be a helpful surprise, but many people search for them while they are dealing with other financial stress. If you do not find any unclaimed funds, or if your claim is still pending, there may be other resources to explore:

• State and local assistance programs
  You can contact your county social services department or the Maryland Department of Human Services for information on programs like food assistance, cash assistance, or housing support.

• Community organizations and nonprofits
  Many local groups, charities, and faith-based organizations in Maryland may offer help with:

  • Food pantries
  • Utility assistance
  • Emergency rent help

• 2-1-1
  Dialing 2-1-1 typically connects you with a free, confidential referral line that can help you find local services, including financial counseling and emergency aid.

HowToGetAssistance.org can help you understand how these programs typically work, but you will always need to go through the official agencies and organizations to apply or enroll.

By understanding how unclaimed bank accounts in Maryland arise, how to search for your name, what documents you may need, and how to verify official channels, you can take clear, confident steps toward recovering any funds that may belong to you or your family through the state’s official unclaimed property process.