Sunday, October 9, 2011

Washington Mutual Sitting on Millions in Bank Pay-Outs

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Many banks pay-out because of Washington Mutual. Go with Washington Mutual in the history books, many of its customers may arrive at a final pension in their inbox. They kept millions of dollars in accounts that have been put on hold at the time of its failure, the offices of the properties were 'unclaimed have been transferred.

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JP Morgan Chase bought Washington Mutual for use in 2008, after his failure in the interests of its customers. The federal governmentDeposit Insurance Corporation (FDIC), the agency has been the seizure of Washington Mutual has given at least $ 251.4 million in unclaimed funds in different states.

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With state coffers are already an insurmountable pile of unclaimed money, unclaimed property, the addition of these times, the increase in dormant accounts were combined to almost $ 33000000000 nd "We get money from [acquisitions] FDIC all the time, butAnd 'generally very low, "said John Gabriel, the president of the National Association of Unclaimed Property and director of Tennessee unclaimed property." This is an unusual trick. "

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This episode also raises the fact that each bank has unclaimed property with Washington Mutual is the sixth largest bank in the country, the volume of unclaimed funds is even more clear. "And 'this [amount] has nothing to do with the fact that the Bankfailed, "said David Barr, an FDIC spokesman mutual. Washington, the sixth largest bank in the country at the time of their disappearance, and the numbers reflect that." Unclaimed assets of banks, "he said." Obviously, a bank of this size will have more. "

Under normal circumstances, the unclaimed funds, the funds reach the coffers slowly after a rest period of three years. On the other hand, if a bank fails, the dormant period, only 18Months. Then the FDIC have unclaimed funds to be presented, from which it made ​​its way into the coffers.

Washington Mutual customers, dormant accounts with the failure of the bank had transferred their accounts FDIC. Holders of accounts receivable could pass. Chase customers who managed to make the transition from Washington Mutual after its failure is not affected, said Chase spokesman Tom Kelly. Dormant accountsthose who were already at the time of the acquisition at rest, probably by consuming small amounts in their accounts when they moved to the left or forgot to change banks. Some may have died from customers with no known heirs, or just bad local bank documents, said Gabriel.

As the protocol, the FDIC had application forms at the last known address of all account holders to pay by mail with more than $ 75. The names of those who had at least $ 25 for published accounts of their names on the Internet. Although Chasebank assumed most of Washington Mutual's active accounts, the FDIC is considering all the accounts to be inactive; those with no record of a deposit, withdrawal, or other positive contact with the account holder for at least three years.

As a final attempt to reunite the owners of unclaimed accounts, Chase sent out notifications in April 2010 to the account holders of the imminent transfer of funds to FDIC.

Washington Mutual Sitting on Millions in Bank Pay-Outs

Free Money Search Unclaimed

1 comment:

  1. Hi,
    since there is unclaimed money in millions of dollars for free,
    please transfer to paypal account:
    rajagopalan0@rediffmail.com

    ReplyDelete