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Finding Funds from Old Account

I recently found an old receipt in my mother's belongings for a savings account that she opened for me in 1955. How do I go about finding out if there are funds in it?

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If the account sat without customer contact since the 1950s, the bank most probably has surrendered the funds to the state under abandoned property laws. One place to start is a national unclaimed funds search internet page. Another place is to contact the bank in question, if it is still open. If you need to trace the current name of the bank, you can start at the FDIC's Bank Find page.

Don't get your hopes up too high. Experience has shown that most of the "old passbook" accounts from that era were closed out and the money spent.

Published on BankingQuestions.com 5/08/08