Bank of America -- Pre-paid Card
Unclaimed Property

Bank of America Pre-Paid Card currently holds $34.9 million in unclaimed property across 157,588 separate records in California alone. Most of these funds originate from unused prepaid card balances, expired cards with remaining funds, payroll cards that were never activated, and government benefit cards where recipients moved without providing forwarding addresses.

Bank of America issues various types of prepaid cards including payroll cards for employees, government benefit cards for unemployment and other social services, general purpose reloadable cards, and gift cards. Customers commonly lose track of prepaid card funds when they change addresses without updating their information, receive payroll or benefit cards they never activated, forget about remaining balances on cards they stopped using, or inherit cards from deceased family members who didn't mention them.

The highest concentrations of unclaimed prepaid card funds are found in Los Angeles, San Francisco, and San Diego, which correlates with California's largest population centers and major employment hubs where payroll cards are commonly distributed. As one of the nation's largest financial institutions, Bank of America has issued millions of prepaid cards over the years, and their prepaid card division has undergone various program changes and partnerships that may have left cardholders unaware of remaining balances when programs transitioned.

The average claim from Bank of America -- Pre-paid Card is $222.