Getty But before the bank would close the account, it may issue a letter to the customer informing them that their account is considered abandoned, and the account "may be turned over to the state ...

Closing a bank account isn’t difficult. However, you need to be careful so that you avoid missing automatic payments or direct deposits and steer clear of account fees.

The financial institution has announced that it will close some accounts if account holders ... to follow the instructions on your letter to contact the bank and prevent escheatment.” ...

Escheatment is the process by which a financial institution must report and remit any abandoned or unclaimed property for safekeeping, Bank of America says. Depending on the state, certain laws are in ...

Reasons for account closure A bank may decide to close your savings or checking account under any of the following circumstances: Immediate steps to take Below are two immediate steps to take if ...