Bank of America
Unclaimed Property

Bank of America currently holds $230.9 million in unclaimed property across 254,586 individual records in California alone. This substantial amount typically comes from dormant checking and savings accounts, uncashed cashier's checks, unused credit balances, safe deposit box contents, and CD accounts where customers moved without updating their address or stopped account activity.

As one of the largest commercial banks in the United States, Bank of America generates unclaimed property through various banking products including checking accounts, savings accounts, certificates of deposit, money market accounts, credit card overpayments, and safe deposit boxes. Customers commonly lose track of Bank of America funds when they move and forget to update their address, close accounts with small remaining balances, stop using accounts that continue to accrue interest, or inherit accounts they weren't aware existed.

The highest concentrations of claims are in Los Angeles, San Francisco, and San Diego - reflecting both California's major population centers and Bank of America's extensive branch network throughout the state. Bank of America's long history includes numerous mergers and acquisitions, particularly the 2008 acquisition of Countrywide Financial and Merrill Lynch, which means some unclaimed property may be held under legacy company names that customers might not immediately recognize.

The average claim from Bank of America is $931.