scorecardresearchUnclaimed money: How do financial institutions treat this amount?

Unclaimed money: How do financial institutions treat this amount?

Updated: 16 Aug 2022, 09:30 AM IST
TL;DR.
Unclaimed funds totaling a sizable quantity are present at banks, insurance companies, and other financial institutions. All of this money is handled in various ways. To know how, go through the article.
If there have been no transactions in a savings or current account for more than two years, the account should be considered inactive.

If there have been no transactions in a savings or current account for more than two years, the account should be considered inactive.