Bank of America
Unclaimed Property

Bank of America has turned over $392.0 million in unclaimed property to the state of California across 338,242 separate records. As one of the nation's largest banks, most of these unclaimed funds come from dormant checking and savings accounts, forgotten safe deposit box contents, uncashed cashier's checks, and inactive investment accounts where customers moved without updating their address or simply lost track of smaller accounts.

Bank of America is a major banking subsidiary that provides consumer and commercial banking services including checking accounts, savings accounts, certificates of deposit, safe deposit boxes, cashier's checks, and investment products throughout California. Customers typically lose track of Bank of America funds when they move residences without updating their address, close accounts but leave small remaining balances, forget about automatic deposits that continue after changing jobs, or inherit accounts they weren't aware existed.

The highest concentrations of unclaimed Bank of America property are found in Los Angeles, San Francisco, and San Diego's largest population centers where Bank of America has maintained significant branch networks for decades. Bank of America has undergone numerous mergers and acquisitions over the years, including the acquisition of Countrywide Financial and Merrill Lynch, which means some customers may not immediately recognize account holders' names on unclaimed property records even though the funds originated from institutions they remember banking with.

The average claim from Bank of America is $1.3K.