Bank of America is shaking things up for customers who’ve let their accounts gather dust. As of March 28, 2025, the bank has made it clear: if your account’s been sitting idle for too long—typically three years or more—it could get shut down and the money handed over to the state. It’s not a new rule, but it’s got people talking after a recent wave of reminders hit the headlines.
What Does "Abandoned" Mean?
Here’s the deal: under state laws across the U.S., banks like Bank of America have to flag accounts as “abandoned” if there’s no activity—no deposits, no withdrawals, no sign of life—for an extended stretch. After that, the funds get “escheated,” meaning they’re sent to the state’s unclaimed property office for safekeeping until the owner steps up. The bank’s website spells it out: “Each state has laws that govern when accounts are considered inactive and when we’re required to send a customer’s property to the state.” For most places, that magic number is three years, though it can vary.
Why is This Coming Up Now?
Why now? Posts on X and news outlets like The Mirror US and Tododisca have spotlighted the policy this week, warning folks to check their accounts. Bank of America says it’s not out to surprise anyone—they send notices to account holders first, giving them a heads-up to log in, move some money, or just say “hey, I’m still here.” But if you miss the memo, your cash could end up in state hands, and you’ll have to jump through hoops to get it back.
How to Keep Your Account Active
Keeping your account alive is easy, though. Make a deposit, pull out some cash, or even just peek at your balance online—it all counts. The bank’s pushing digital tools like alerts to help you stay on top of things. “We encourage you to log in and check your balances regularly,” their site advises. It’s a small step to avoid a big hassle.
It’s Not Just Bank of America
This isn’t unique to Bank of America—most banks follow similar rules to comply with state regulations. But with millions of customers and a rep for big moves, their nudge has folks double-checking their statements. So, if you’ve got an old savings account you forgot about, now’s the time to give it some love—before the state does.