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Possible to Open Account and Abandon It?
Is it possible to deposit $200 into a new account, have a unique password, not have to deposit anymore, and still earn a small summed interest each month for leaving it alone, even if I have a debt in one or two other accounts for other banks?
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 You can make a deposit into an account and leave the funds there. If the account is an interest bearing account and the amount on deposit meets the minimum restrictions (if any) to earn interest, interest will be paid. Depending on the type of account, the interest will be paid and either deposited into that account, another account, or paid by check to the owner.
If you have a past due debt, the bank may setoff your deposit and pay the debt. If you leave the account alone long enough, state laws may require that it be deemed dormant or inactive, which is essentially a stage of the abandonment process. After a state specified period, those funds will be sent to the state where you would be able to reclaim them.
Published on BankingQuestions.com 6/09/10
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