I have my dad's saving's account booklet. The account was opened Nov. 7, 1938. As far as I know, interest should have been accrued these many years. How do I collect the current balance and close the account?
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First you have to verify that the bank exists and that the account exists. Inactive or dormant accounts are subject to state laws, and after a state specified period, money is escheated to the state. There are websites that help you find money sent to the state. Don't pay a fee for this as it is a free service many sites offer. Also, check with your state comptroller or other appropriate official as to the list of unclaimed funds.
If the money is still at the bank, the rightful owner will have to claim the funds to close the account. If your dad is alive, that would be him, or potentially someone with a Power of Attorney. If he has passed, it would be his estate. That may also apply if the funds are with the state.
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First you have to verify that the bank exists and that the account exists. Inactive or dormant accounts are subject to state laws, and after a state specified period, money is escheated to the state. There are websites that help you find money sent to the state. Don't pay a 