Unclaimed Bank Accounts in Massachusetts: Why They Happen and How to Claim What You’re Owed

Unclaimed money from old bank accounts is more common than many people realize. If you have ever moved, changed banks, or forgotten about a small balance, you could have money waiting in Massachusetts’ unclaimed property system.

This guide explains, in plain English, how unclaimed bank accounts happen, how Massachusetts typically handles them, and how you can try to claim funds through official state channels.

HowToGetAssistance.org is not a government agency and does not process claims. This article is meant to help you understand the usual process so you can follow up with the correct official Massachusetts office or website.

What Is an Unclaimed Bank Account in Massachusetts?

An unclaimed bank account is usually a checking or savings account that has had no activity by the owner for a certain period of time. In Massachusetts, after a legally defined period of inactivity (often called a “dormancy period”), the bank is required to turn the funds over to the state’s unclaimed property program.

Common types of unclaimed bank-related property include:

• Checking accounts
• Savings accounts
• Certificates of deposit (CDs) after maturity
• Money orders or cashier’s checks (in some cases)
• Safe deposit box contents (handled slightly differently than cash)

Once turned over to the state, the money is held by Massachusetts’ unclaimed property office (often part of the state treasurer’s or similar department) until a rightful owner or heir files a claim.

How Bank Accounts Become “Unclaimed” in Massachusetts

Typical Reasons Accounts Go Unclaimed

Bank accounts in Massachusetts usually become unclaimed when:

• You move and do not update your address with the bank
• Mail from the bank is returned as undeliverable
• You stop using an account, assuming the balance is too small to matter
• An elderly relative passes away, and family members do not know about all their accounts
• You change names (for example, after marriage or divorce) and lose track of older accounts
• Paper statements stop and you forget about an account you rarely check

What “Inactivity” Usually Means

Typically, “inactivity” refers to:

• No deposits or withdrawals initiated by the account holder
• No written or electronic contact from the owner to the bank
• No response to bank notices asking you to confirm your account

Interest automatically added by the bank often does not count as activity by you.

Dormancy periods vary by account type and by law, but for many bank accounts in Massachusetts, the period is often around three years of no owner-initiated activity. After that period, the bank usually:

1. Attempts to contact the account owner at the last known address
2. Marks the account as dormant
3. Reports and transfers the funds to the state’s unclaimed property program

Who Oversees Unclaimed Bank Accounts in Massachusetts?

In Massachusetts, unclaimed money from bank accounts is typically handled by the state’s unclaimed property division, which is usually part of the Office of the State Treasurer and Receiver General or a similar agency.

This state office:

• Receives funds from banks and financial institutions
• Maintains a searchable database of unclaimed property owners
• Reviews claims submitted by people who believe they are owed money
• Approves or denies claims based on proof of identity and ownership

To start the process, people typically use:

• The official Massachusetts unclaimed property website, or
• The state’s official unclaimed property phone line or mailing address

HowToGetAssistance.org cannot check your claim status or file your claim for you. You’ll need to use Massachusetts’ official channels for that.

How to Check for Unclaimed Bank Accounts in Massachusetts

Here is a typical step-by-step overview of how residents often search for unclaimed money in Massachusetts.

Step 1: Gather Basic Information

Before you search, it helps to have:

• Full legal name (including past names or maiden names)
• Current and previous addresses in Massachusetts
• Date of birth
• Approximate years you lived or held accounts in Massachusetts

If you’re searching on behalf of someone else (such as a deceased parent), you may also need:

• Their full legal name
• Their last known address
• Approximate date of death

Step 2: Use the Official Massachusetts Unclaimed Property Search

Most people start with the state’s official unclaimed property website, where they can:

• Enter a name and possibly a city
• Review any potential matches
• Note any property IDs or claim numbers the site provides

If you do not have internet access, you can:

• Call the official unclaimed property phone number listed by the state treasury office
• Request guidance on how to run a search or request a mail-in form

When searching, try variations such as:

• Full middle name vs. initial
• Former names (for example, before marriage)
• Common misspellings of your surname

Step 3: Confirm the Property Looks Like Yours

If you see an entry that may be yours, look closely at:

• The address listed
• The reported owner name spelling
• The institution name (bank or credit union)
• The type of property (e.g., checking account, savings account)

This can help you decide if you should move forward with a claim.

How to File a Claim for an Unclaimed Bank Account

Once you identify a property that may belong to you, you can usually file a claim through Massachusetts’ official unclaimed property office.

Common Ways to File a Claim

Most states, including Massachusetts, typically offer options such as:

1. Online claim submission through the official Massachusetts unclaimed property portal
2. Downloadable claim form you can print, complete, and mail
3. Request a paper form by phone or mail if you cannot access the internet

Follow the instructions exactly as given on the Massachusetts agency’s official website or forms.

Documents You May Need

The documentation required can vary depending on your situation (for example, personal claim vs. claim for a deceased relative or a business). Below is a general guide.

For your own unclaimed bank account (most common):

• Valid photo ID
  • Massachusetts driver’s license
  • State ID card
  • Passport
• Proof of current address
  • Recent utility bill
  • Lease agreement
  • Bank statement
• Proof of prior address listed on the unclaimed account (if different):
  • Old bill or statement
  • Old lease or mortgage statement
  • Official letter with your name and that address

For a deceased family member’s account:

• All of the above (for yourself), plus:
  • Death certificate of the original owner
  • Proof of relationship (birth certificate, marriage certificate, or similar)
  • Legal documents showing your authority to claim
    • Letters of administration
    • Letters testamentary
    • Small estate affidavit (if applicable in Massachusetts)
    • Copy of the will and court appointment, where required

For a business account:

• Business registration documents
• Proof of authority to act on behalf of the business (e.g., officer documentation)
• Tax ID number (EIN)

Always check the specific list of required documents on the official Massachusetts unclaimed property site or form, because requirements can be updated.

At-a-Glance: Typical Claim Types and Documents

Use this table as a general guide only. The official Massachusetts unclaimed property office provides the final word on required documents.

What Happens After You Submit a Claim

Once you send in your claim to Massachusetts’ unclaimed property office (online or by mail), a typical process might look like this:

1. Acknowledgment

   • You may receive a confirmation number, claim ID, or email/letter showing that your claim was received.

2. Review Phase

   • Staff verify your identity and connection to the property.
   • They compare your documents to the information originally provided by the bank.

3. Request for Additional Information (if needed)

   • If something is missing or unclear, the office may send a letter or email asking for additional documents.
   • Your claim may be put on hold until they receive what they asked for.

4. Decision

   • If approved, you typically receive a check from the Commonwealth of Massachusetts or a similar method described by the state.
   • If denied, you should receive a notice explaining why and, sometimes, how to respond or appeal.

Typical Timelines

Processing times vary based on:

• How many claims the office is handling
• How complex your claim is
• Whether your documents are complete and easy to verify

Many simple claims, when submitted with correct paperwork, are often completed in a few weeks to a few months, but backlogs or missing documents can lengthen the process.

For the most accurate estimate, check with Massachusetts’ unclaimed property office or their official website.

Common Reasons Claims Get Delayed or Denied

Understanding common pitfalls can help you avoid delays.

Frequent Problems

• Incomplete forms
  • Missing signatures
  • Skipped sections
• Insufficient ID or proof of address
  • Unreadable photocopies
  • Expired ID
• Cannot confirm connection to the address or bank account
  • No documentation linking you (or the deceased) to the address on file
• Wrong person claiming
  • Claim filed by someone who is not the legal heir, executor, or authorized representative
• Mismatched names
  • Different spelling or different last name without documentation (e.g., no proof of name change)

How to Improve Your Chances of Approval

• Read Massachusetts’ official instructions carefully before you start.
• Double-check all forms for completeness and accuracy.
• Provide clear, legible copies of documents (or originals if specifically requested).
• Include name change documents (marriage certificate, court order) when needed.
• If claiming for someone who has passed away, make sure you understand the estate requirements in Massachusetts.

Can You Appeal or Reopen an Unclaimed Property Claim in Massachusetts?

If your claim is denied, Massachusetts may offer ways to:

• Submit additional documentation to fix the problem, or
• Request a review or appeal of the decision

Exact appeal processes can vary by state and may change over time. To find out your options in Massachusetts:

• Read the denial letter carefully for instructions.
• Contact the official unclaimed property office using the phone number or address they provide.
• Ask whether you can resubmit with more documentation or if there is a more formal appeal process.

What If You Don’t See Your Name Listed?

If you cannot find your name or your relative’s name in the Massachusetts unclaimed property search:

• Try name variations
  • Middle initial vs. full name
  • Previous last names
  • Common misspellings
• Search under business names, if you owned or managed a company
• Consider whether the money might be in another state’s unclaimed property system, especially if:
  • You moved from another state to Massachusetts, or
  • The bank was headquartered in a different state

You can also contact the Massachusetts unclaimed property office and ask whether they can search system records or help you understand why nothing is appearing.

How Long Do You Have to Claim an Unclaimed Bank Account in Massachusetts?

Massachusetts, like many states, generally holds unclaimed property indefinitely for the rightful owner or heir. This is often referred to as there being no time limit for claiming most types of unclaimed property.

However:

• Certain types of property may have special rules, especially securities or other financial assets.
• Rules can be updated over time by state law.

It is usually wise to claim your funds as soon as you become aware of them, rather than waiting, to avoid complications or changes in documentation requirements.

How to Tell You’re Using an Official Massachusetts Channel (Scam-Avoidance Tips)

Because unclaimed money can be attractive to scammers, it is important to verify that you are dealing with legitimate state offices.

Red Flags to Watch For

• Companies that contact you and demand a fee upfront to “unlock” or “secure” your unclaimed money
• Emails or texts asking for your full Social Security number or bank PIN through unsecured links
• Websites that look like government sites but end in unusual domain names
• High-pressure tactics like “Pay today or you lose your claim”

Safer Practices

• Look for an official “.gov” website associated with Massachusetts state government.
• Confirm any phone number by checking it against the number listed on the Massachusetts state treasurer or unclaimed property office website.
• If someone offers to help you for a fee, know that many people successfully file their own claims directly with the state for no charge beyond any normal notary or mailing costs.
• Never share sensitive information like complete Social Security numbers or bank details unless you are certain you are using an official state system or form.

If in doubt, you can:

• Call the main number for the Massachusetts Office of the State Treasurer and ask to be connected to the unclaimed property division.
• Ask a trusted local resource (such as a public library, legal aid organization, or consumer protection office) to help you verify the correct official site.

Alternatives and Related Resources

If you do not find any unclaimed bank accounts but are still trying to improve your financial situation, consider:

• Other types of unclaimed property in Massachusetts:

  • Uncashed paychecks
  • Utility deposits
  • Insurance proceeds
  • Refunds or rebates

• Federal-level unclaimed funds

  • Old tax refunds (through the Internal Revenue Service)
  • Federal savings bonds that have matured

• General assistance resources (not related to unclaimed property)

  • Calling 211 in Massachusetts to ask about housing, food, or utility assistance
  • Contacting local community action agencies or legal aid organizations for help with consumer issues

These are separate from unclaimed bank accounts, but some people discover multiple financial resources when they start researching.

By understanding how unclaimed bank accounts in Massachusetts work, you can take practical steps to see if any funds are waiting under your name or a family member’s name. The key actions are to search the official Massachusetts unclaimed property system, follow the state’s instructions closely, and provide complete, accurate documentation through the official channels the state provides.