Sam asked in Business & FinanceInvesting · 1 month ago

Interest from a bank account I didn't know I had?

Got a letter in main to day from a bank that is not the one I use saying I had about 300$ in interest from a savings account bonds and treasuries....I have never used this bank for any reasons....how could this be? What should I do? Could I have more money that I dont know about? Thanks

4 Answers

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  • 1 month ago
    Favorite Answer

    If the interest is $300, that would suggest that there's over $10,000 in the account, so definitely look into it.

    It could be money you forget you have.

    It could be money that your parents put in your name when you were a child.

    It could be something fraudulent.  Maybe someone used your name and address to open an account.

    It could be meant for someone else who has the same name as you.

  • kswck2
    Lv 7
    1 month ago

    Most states in the US have funds called Unclaimed Funds. These are for accounts-including banks-that have gone stale. Sometimes from lack of use, the owner dies, etc. These Funds will release that holding (money, property, etc.) though you will need to jump through their hoops to get it. Check your local state website for more info. 

    If the bank contacted you, go to the bank in person and present your claim. It may well be one of your accounts, it may be a mistake. 

  • 1 month ago

    I got a call once from a bank I use,  asking if I wanted to renew the 10 CD'S I had. Turns out there was a second person with the same name who used the same bank and they got us confused.  They can make mistakes. 

    Call the bank, ask for the manager and question what this is about. 

  • 1 month ago

    It may be worth following up, especially if it doesn't turn out to be a scam. Maybe a rich uncle put your name on an account. 

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