Unclaimed Bank Accounts in Minnesota: Why It Happens and How to Claim Your Money

Unclaimed money can sound too good to be true, but many people in Minnesota really do have forgotten or abandoned bank accounts waiting to be claimed. Understanding how unclaimed bank accounts happen, how Minnesota typically handles them, and how to start a claim through official channels can help you find out if any of that money belongs to you.

HowToGetAssistance.org is an independent, informational website. It is not a bank, government office, or claim-processing service. This guide explains common steps and points you toward official resources where you can search and file claims.

What Are Unclaimed Bank Accounts in Minnesota?

In plain language, an unclaimed bank account is a bank account (checking, savings, CD, etc.) that has had no activity and no contact with the owner for a certain period of time. In Minnesota, when that period passes, the bank is usually required to turn the money over to the state’s unclaimed property program for safekeeping.

Typical examples include:

• Checking or savings accounts you stopped using and forgot about
• Certificates of deposit (CDs) that matured years ago
• Joint accounts where one owner moved or passed away
• Accounts opened for children that were never updated in adulthood
• Closed bank branches or mergers where information got lost

The key idea: the money still belongs to the owner (or their heirs). The state just acts as a custodian until someone successfully proves ownership through the official claim process.

How Bank Accounts Become “Unclaimed” in Minnesota

While exact timelines and definitions come from Minnesota state law, the general pattern is similar:

1. Period of Inactivity

Most bank accounts become “dormant” after a few years with no activity, such as:

• No deposits or withdrawals
• No online logins, address changes, or phone contact
• No responses to the bank’s letters or emails

Banks usually consider things like automatic interest posting not to count as activity by the owner.

2. Attempts to Contact the Owner

Before an account is turned over to the state, banks are typically required to try to contact the owner:

• Mail to the last known address
• Email or phone, if available
• Statements noting that the account is inactive

If mail is returned, or the owner simply does not respond, the account is more likely to be considered unclaimed.

3. Transfer to the State’s Unclaimed Property Program

After the inactivity period, the bank normally turns the account balance over to the State of Minnesota’s unclaimed property program (often run by the state’s Department of Commerce or a similar agency).

From that point on:

• The bank does not hold the funds anymore
• The state keeps the money on file under the owner’s name and last known address
• The owner (or heir) must file a claim with the state, not with the old bank

Common Reasons People Have Unclaimed Bank Accounts

Many Minnesotans discover unclaimed bank accounts for everyday reasons:

• Moving without updating address – Bank statements go to an old address and get returned.
• Changing banks – A small balance is left behind and forgotten.
• Life changes – Marriage, divorce, or a name change makes it harder to match records.
• Death in the family – Heirs may not know about all of a loved one’s accounts.
• Old jobs or side gigs – Direct deposits or refunds might land in an account you no longer use.

If you have ever moved, changed your name, used multiple banks, or handled someone’s estate, it may be worth checking Minnesota’s unclaimed property records.

Who Can Claim an Unclaimed Bank Account in Minnesota?

In most Minnesota unclaimed property situations, the following people may be able to claim funds:

The Original Account Owner

You may be able to claim if:

• The unclaimed property is listed under your name, and
• You can prove your identity and connection to the listed address or account.

Heirs or Beneficiaries

If the account owner has died, the following might qualify, depending on the situation and documentation:

• Surviving spouse
• Children or other heirs named under Minnesota inheritance law
• A personal representative or executor for the estate
• A trustee if the account was held in a trust

Business or Organization Representatives

For business accounts, the state often requires proof that:

• The business or organization existed (or still exists), and
• You are an authorized representative (such as an owner or officer).

Because eligibility rules and documents can be very specific, it’s important to review the instructions on Minnesota’s official unclaimed property website or contact the state’s unclaimed property office directly for case-specific guidance.

How to Search for Unclaimed Bank Accounts in Minnesota

You do not need a lawyer or third-party company to check if you have unclaimed accounts. Most people can search directly through the state.

Here is how it typically works in Minnesota:

Step 1: Go to Minnesota’s Official Unclaimed Property Search

Most states have a dedicated, free search page run by a state agency such as:

• The Minnesota Department of Commerce, or
• Another official state unclaimed property office

You can usually find it by searching online for phrases like:

• “Minnesota unclaimed property search”
• “Minnesota Department of Commerce unclaimed property”

Look for signs it is official, such as:

• A “.gov” website address
• State logos and clear government contact information
• No fees required to search or file a basic claim

Step 2: Search by Name

On the official search page, you can usually:

• Enter your first and last name
• Optionally narrow by city or previous last names
• Search for family members’ names (for estate-related claims)

The search results typically show:

• The owner name on file
• The last known address or city
• The holder type (for example, bank, credit union, employer)
• An approximate property type (such as bank account, refund, etc.)

Step 3: Identify Possible Matches

If you see results that look like you, ask:

• Is the spelling of the name correct or close?
• Does the city or address match somewhere you lived or worked in Minnesota?
• Does the property type (bank, financial institution) make sense with your history?

You can typically start a claim for any listing that reasonably appears to belong to you or someone whose estate you handle.

How to Claim an Unclaimed Bank Account in Minnesota

Once you believe you’ve found a match, Minnesota’s official unclaimed property system usually guides you through a claim process. The process may vary based on who you are (original owner vs. heir), but it often works like this:

1. Start a Claim Request Online

For each property you want to claim, you may:

1. Select the item in the search results
2. Click an option like “File a Claim” or “Claim This Property”
3. Answer some basic questions (your relationship to the property, your current address, etc.)

Some simpler claims can be completed mostly online. Others may require you to print, sign, and mail forms with supporting documents.

2. Gather Required Documents

Minnesota’s unclaimed property office usually asks for proof that:

• You are who you say you are, and
• You are the right person to receive the money.

Common documents include:

• Photo ID:

  • Driver’s license
  • State ID card
  • Passport

• Proof of Social Security Number (sometimes requested):

  • Social Security card
  • Tax document showing your SSN

• Proof of current address:

  • Utility bill
  • Lease or mortgage statement
  • Bank statement

• Proof you are the owner or heir, such as:

  • Old bank statements or passbooks
  • Letters from the bank
  • Marriage certificate (for name change)
  • Divorce decree (if relevant)
  • Birth certificate (to show relationship)
  • Death certificate (for deceased owner)
  • Court-issued Letters Testamentary or Letters of Administration (for estates)
  • Trust documents (if the property was in a trust)

The exact list will depend on the claim and is usually explained in the instructions generated by the official Minnesota unclaimed property system.

Quick Reference: Common Claim Types and Typical Documents

Below is a simple summary-style table. It is not a complete or official list, but it can help you prepare.

*The state’s official unclaimed property office may require additional or different documents based on the specific claim.

Sending Your Claim and Documents

Depending on the system Minnesota is using when you file, you may:

• Upload documents online through a secure portal, and/or
• Mail physical copies (or certified copies) to the address provided on the claim form.

Always follow the directions printed on your official claim form and:

• Keep copies of everything you send
• Write down your claim number
• Make note of the date you submitted or mailed the claim

If you are unsure whether documents must be original or certified, contact the state’s unclaimed property office using the phone number or email listed on Minnesota’s official government site.

How Long Does It Take to Get Your Money?

Processing times vary, but many people experience timelines along these lines:

• Simple claims with clear documentation: often resolved in a few weeks to a couple of months.
• Complex claims (estates, multiple heirs, trusts, very old accounts): can take longer, especially if additional documents are needed.

During processing, the Minnesota unclaimed property office typically:

1. Reviews your documents to confirm identity and ownership
2. May reach out if anything is missing or unclear
3. Approves or denies the claim
4. Issues payment, often by check or direct deposit, depending on the program’s current practices

If you want an update, you can usually:

• Check claim status on the official Minnesota unclaimed property portal, or
• Call the state unclaimed property office using the phone number on the official site and provide your claim number.

Common Reasons Claims Are Delayed or Denied

Understanding common issues can help you avoid problems:

• Incomplete applications

  • Missing signatures
  • Blank sections on the form

• Insufficient ID or proof of address

  • Expired ID
  • No document linking you to the address or name on file

• Name mismatches

  • Not explaining or documenting a change from maiden name to married name, or other variations

• Unclear relationship to the owner

  • Heirs without clear legal authority or supporting estate documents

• Incorrect or outdated contact information

  • The state cannot reach you for clarification

If your claim is delayed or denied, you can typically:

• Ask for an explanation from the Minnesota unclaimed property office
• Provide additional documents
• Correct mistakes and re-file, if allowed

Any formal appeal or review process will be described by the state agency managing unclaimed property. Be sure to follow their official instructions.

If You Do Not Qualify or Can’t Prove Ownership

Sometimes people find a listing that looks like it might be theirs but cannot fully prove ownership, or the state determines the property belongs to someone else. If that happens:

• You may not be able to claim those funds.
• Another person or heir with stronger documentation might be the rightful claimant.
• You can still search under other names, addresses, or relatives to see if different property exists.

If you believe a decision was incorrect, ask the Minnesota unclaimed property office whether there is:

• A formal appeal process, or
• A way to submit additional evidence of your identity or relationship.

How to Tell If You Are Using an Official Minnesota Channel

Because “free money” naturally attracts scams, it is important to verify that you are dealing with Minnesota’s official unclaimed property program, not a private or fraudulent site.

Tips to help verify:

• Look for a “.gov” address in your browser for the main site.
• Confirm that the page clearly identifies a Minnesota state agency (such as the Department of Commerce or similar office).
• Check that searching and filing a claim are free. Many official unclaimed property programs do not charge a fee to file a basic claim.
• Use phone numbers and addresses that appear on a known state government site or in official state publications.
• Be cautious if someone:
  • Contacts you out of the blue claiming you are owed money
  • Asks for upfront fees or a cut of your refund
  • Demands sensitive personal information through email or text

Some people do hire third-party “finders” or “locators” who offer to help uncover and claim funds for a fee. Before signing any contract:

• Ask for written terms
• Compare with the free option of filing claims yourself through the state
• Check whether Minnesota has any specific rules or limits about these services

You do not need any third-party company to search for or claim unclaimed bank accounts through Minnesota’s official system.

Practical Steps You Can Take Today

If you want to check for unclaimed bank accounts in Minnesota, you can:

1. Make a list of names

   • Your current legal name
   • Any prior names (maiden name, previous married name, spelling variations)
   • Deceased relatives for whom you might be an heir or representative

2. Gather basic documents

   • A valid photo ID
   • At least one proof of address
   • Any old bank records you might have

3. Visit Minnesota’s official unclaimed property search

   • Use a search term like “Minnesota unclaimed property”
   • Confirm you are on an official state government website

4. Search for your name and relatives’ names

   • Check any records that match a city or address where you lived or worked

5. Follow the on-screen instructions

   • Start a claim for any property that appears to be yours
   • Review the specific document list Minnesota provides for your claim type
   • Submit documents exactly as instructed by the state agency

6. Keep records

   • Save copies of everything you submit
   • Write down your claim number
   • Note any phone numbers or email addresses you used to contact the state

Remember: HowToGetAssistance.org does not process claims and cannot check your status. To move forward, you will need to use Minnesota’s official unclaimed property website or contact the state unclaimed property office directly.