Unclaimed Bank Accounts in Virginia: Why They Happen and How to Claim What’s Yours

Unclaimed money in Virginia often comes from old bank accounts, checks, and other financial assets that people forget about or lose track of over time. Many Virginians are surprised to learn they may have money sitting with the state and not even know it.

This guide explains how unclaimed bank accounts happen in Virginia, how the state holds and protects that money, and how you can search for and claim it through official channels. HowToGetAssistance.org is an independent information site, not a government office or claim-processing service, but this overview can help you feel prepared before you contact the official state agency.

What Are Unclaimed Bank Accounts in Virginia?

In Virginia, an unclaimed bank account usually means money in a financial account that has had no activity or contact from the owner for a certain number of years. After that period, the bank is required to turn the money over to the Commonwealth of Virginia, where it is held until the rightful owner claims it.

Unclaimed funds can come from:

• Checking accounts
• Savings accounts
• Certificates of deposit (CDs)
• Money market accounts
• Cashier’s checks or official bank checks
• Safe deposit box contents (the physical contents are handled differently, but still fall under unclaimed property laws)

The key idea:

• Your bank keeps the account during the initial “dormancy” period.
• After that, the money is turned over to the state’s unclaimed property program, which acts as a custodian until you file an official claim.

How Do Bank Accounts Become “Unclaimed” in Virginia?

Common Ways Accounts Go Unclaimed

Unclaimed accounts usually result from lost contact or forgotten assets, not wrongdoing. Typical situations include:

• Moving without updating your address
• Closing some accounts but forgetting about others
• Opening a small savings account and never using it
• Automatic payments or deposits ending, leaving the account idle
• An elderly relative passing away and no one knowing about their accounts
• Name changes (after marriage, divorce, etc.) that make it harder to match records

Dormancy Periods: When Banks Must Turn Money Over

In Virginia, an account becomes “dormant” after a certain period with no owner-initiated activity. While exact time frames can vary by account type and can change over time, many bank accounts are considered dormant after 3 to 5 years of inactivity.

“Inactivity” typically means:

• No deposits or withdrawals initiated by you
• No written communication with the bank
• No logins or activity that the bank recognizes as owner contact (this can depend on the bank’s rules)

Once the dormancy period passes, the bank is required to:

1. Attempt to contact you using the last known address or contact information.
2. If they cannot reach you or you don’t respond, transfer the funds to the Virginia unclaimed property program.

Who Oversees Unclaimed Bank Accounts in Virginia?

In Virginia, unclaimed bank accounts are handled through the state’s unclaimed property program, which is typically operated by the Virginia Department of the Treasury or a similar state-level agency.

That agency:

• Receives unclaimed funds from banks and other businesses
• Maintains a searchable database of unclaimed property owners
• Reviews claim applications from people who think they are owed money
• Approves and pays claims when ownership is proven

HowToGetAssistance.org is not connected to this agency and cannot check or process claims, but you can contact the Virginia unclaimed property office directly via their official website, phone line, or mailing address to start the process.

How to Check for Unclaimed Bank Accounts in Virginia

Step 1: Gather Basic Information

Before you search, it helps to have:

• Full legal name (and any prior names, such as maiden name)
• Current and past Virginia addresses
• Approximate years you lived or banked in Virginia
• Names of banks or credit unions you used

If you are searching for a deceased relative, gather:

• Their full legal name
• Date of birth and date of death
• Last known Virginia address
• Any estate or probate documents you may have

Step 2: Use the State’s Official Unclaimed Property Search

Most people start by searching the official Virginia unclaimed property database. You can typically:

• Use your name and city to search
• Narrow or broaden your search if needed
• See whether there is property listed under your name or a relative’s

If you do not have internet access or feel more comfortable speaking with someone, you can usually:

• Call the Virginia unclaimed property office and ask for help checking your name
• Request a mailed form if you prefer to submit a paper claim

To make sure you find the correct site or office:

• Look for the “Virginia Department of the Treasury” or “Unclaimed Property” office.
• Verify that contact information comes from official state resources, not third-party companies.

Step 3: Review the Results Carefully

Search results might show:

• Your name (or a similar spelling)
• The last known address associated with the account
• The holder name (often the bank or financial institution)
• Sometimes an approximate property value range

If the information appears to match you or a relative, you can start a claim following the instructions on the official Virginia site or forms.

How to Claim an Unclaimed Bank Account in Virginia

The claim process can usually be done online or by mail, depending on your situation and the state’s current procedures. The basic steps are similar for most people.

Step 1: Start a Claim Through the Official Portal or Form

You will typically:

1. Select the unclaimed property record that belongs to you.
2. Provide contact information, such as your current address, phone, and email.
3. Indicate your relationship to the property (e.g., owner, heir, executor).

If applying on paper, you’ll generally fill out a claim form with these same details and mail it to the state unclaimed property office.

Step 2: Prove Your Identity and Ownership

Virginia’s unclaimed property office usually requires proof of identity and sometimes proof of address or relationship. Requirements can vary by claim size and situation, but commonly requested documents include:

For individuals claiming their own accounts:

• Government-issued photo ID
  • Example: driver’s license, state ID, passport
• Proof of Social Security number (sometimes requested)
  • Example: Social Security card, tax form with your full SSN
• Proof you lived at the address listed in the unclaimed property record
  • Old utility bill
  • Bank statement
  • Pay stub
  • Lease agreement

For heirs or executors (deceased owner):

• Your photo ID
• Death certificate of the deceased owner
• Proof of relationship (such as birth certificate, marriage certificate, or will)
• Letters testamentary, court appointment papers, or other estate documents if you are the executor or administrator
• Any supporting documents tying the deceased to the address or account

The state agency may ask for additional documents if needed to confirm the claim.

Step 3: Submit Your Claim

Typical submission options include:

• Online upload of documents through the official portal
• Mailing copies (never the only original of an important document unless specifically required) to the address given by the Virginia unclaimed property office

Always use the official address or secure upload method listed by the state. If you’re unsure, you can call the state unclaimed property hotline to verify instructions.

Step 4: Wait for Review and Payment

After you submit your claim:

• The agency will review your documents to make sure they match their records.
• They may contact you if they need more information.
• Once approved, you will generally receive:
  • A check mailed to your address, or
  • Another form of payment specified by the agency

Processing times can vary — it might take several weeks or longer, depending on how busy the office is and how complex your claim is.

Typical Documents Needed for Unclaimed Bank Account Claims

Below is a simple overview of documents people often need to claim unclaimed bank accounts in Virginia. Requirements can vary based on the type and size of property, so this is just a general guide.

If something on the list is difficult for you to obtain, you can usually call the state agency to ask what alternatives might be accepted.

How Long Do You Have to Claim Unclaimed Bank Accounts in Virginia?

Virginia’s unclaimed property program is typically custodial, which usually means:

• The state holds the money indefinitely on behalf of the rightful owner or heirs.
• There is no standard “expiration date” where you permanently lose the right to claim it.

However, rules can change over time, and some claim types may have special considerations. It’s usually wise to:

• Search periodically, especially after major life events (moving, marriage, divorce, death in the family).
• File a claim as soon as you discover property in your name.

Common Reasons Claims Get Delayed or Denied

Virginia’s unclaimed property office must balance protecting against fraud with returning money to the right people. Claims may be delayed or denied when:

• Names don’t match (for example, your ID is under a married name but the record shows your maiden name, and you did not provide proof of the name change).
• Insufficient proof of address for the period shown in the record.
• Missing or incomplete forms (signatures left out, required fields blank).
• Poor-quality document copies that are hard to read.
• Lack of legal authority for estate claims (for example, someone trying to claim for a deceased person without being the executor or legal heir).

To reduce problems:

• Double-check your forms before sending.
• Include clear copies of IDs and supporting documents.
• If your name changed, include marriage certificates, divorce decrees, or court name-change orders.
• If claiming on behalf of a deceased person, make sure you understand whether the estate needs to be opened in court before filing.

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

• Contact the Virginia unclaimed property office to ask what additional documentation is needed.
• Resubmit your claim with corrected or added information.

Special Situations: Claiming for Deceased Relatives

Many Virginia unclaimed accounts belong to people who have passed away. The process can be more complex, but it often follows a similar pattern.

If There Is a Probate Estate

If the deceased person’s estate has been or will be handled through probate court, the executor or administrator usually files the claim. They may need to provide:

• Court-issued letters testamentary or letters of administration
• The will (if there is one)
• Death certificate
• Their own photo ID and contact information

The money is often paid to the estate, then distributed according to the will or state law.

If There Is No Formal Estate

If there was no probate case, Virginia may allow heirs (such as a spouse, child, or other next of kin) to claim directly, depending on the amount and the state’s rules.

In those situations, you may need:

• Your photo ID
• Death certificate
• Proof of relationship to the deceased
• Possible affidavit or sworn statement if required by the state

Rules can vary based on claim size and family situation, so it may help to:

• Call the Virginia unclaimed property office and explain your situation.
• Ask which forms and documents are appropriate for your specific case.

For complex estates or disputes among heirs, some families choose to speak with a probate or estate attorney for legal advice.

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

Because unclaimed money is involved, scammers sometimes pose as “unclaimed funds services” or create confusing sites that look official. A few ways to protect yourself:

• ✅ Look for .gov in state websites. Official Virginia agencies typically use “.gov” domains.
• ✅ Be cautious of fees.
  • The state unclaimed property program does not usually charge you a fee to file a claim directly.
  • Some private “finders” may legally charge a fee to help locate or claim money, but it’s optional, and you can usually do the process yourself at no cost through the state.
• ✅ Avoid giving sensitive info to unknown callers.
  • If someone calls you about unclaimed funds and asks for banking details, hang up and call the Virginia unclaimed property office using a phone number you look up yourself.
• ✅ Check for clear state agency names.
  • Look for references to the Virginia Department of the Treasury or “Unclaimed Property Division,” and verify these through independent sources.
• ✅ Do not send money to “unlock” your funds.
  • Government agencies usually do not ask you to send payments or gift cards to receive your own unclaimed property.

If something feels off, you can:

• Call the Virginia unclaimed property office directly.
• Ask them to verify whether a letter, email, or call you received is legitimate.

If You Don’t Find Any Unclaimed Bank Accounts

Not everyone will find unclaimed money, and that’s normal. If your search comes up empty, you can still:

• Check again periodically. New unclaimed accounts are turned over to the state regularly.
• Search under all variations of your name, including middle initials, maiden names, or hyphenated names.
• Search for relatives who have passed away, especially if you are the heir or executor.
• Check other states where you or your family have lived or worked. Each state has its own unclaimed property program.

Other Types of Unclaimed Property in Virginia

While this guide focuses on unclaimed bank accounts, Virginia’s unclaimed property program can also hold:

• Uncashed paychecks
• Refund checks from utilities or insurance
• Stock dividends or mutual fund shares
• Unredeemed money orders
• Safe deposit box contents (which may eventually be sold under specific rules)

If you find an account or property that isn’t a bank account, the claim steps are often similar: search, start the claim, submit documents, and wait for review.

By understanding how unclaimed bank accounts in Virginia work and what the state’s unclaimed property program typically requires, you can be better prepared to search and, if you’re eligible, claim funds that may belong to you or your family. For the most accurate and up-to-date instructions, contact the Virginia unclaimed property office or the Virginia Department of the Treasury directly through their official channels.