An old savings account, an account opened years ago or a few hundred euros left aside “just in case”: many keep accounts that they never consult. However, this can have very real financial consequences.
Forgotten bank accounts are far from rare. Over time, many savers accumulate several financial products: a savings account opened for a child who has become an adult, an account kept after changing banks or even precautionary savings that are never touched. Among seniors, this situation is particularly common. The accounts remain open, the money appears safe and, as long as no problems arise, there is no apparent reason to worry.
However, banking establishments closely monitor the activity of their customers. An account that experiences no movement for a long period of time quickly attracts the attention of internal control systems. Contrary to popular belief, money cannot simply remain tied up indefinitely without consequences. Banks have precise rules to manage these situations and they apply them automatically.
First of all, in certain banks, the absence of operations for a period of between 12 and 24 months may result in the application of specific fees provided for in the pricing conditions. These amounts vary depending on the establishment but can reach several tens of euros each year. For a person who left a few hundred euros in an old account, the bill ends up being heavy. Capital built up over time can then gradually decrease without its owner immediately noticing it.
Beyond fees, prolonged inactivity may result in more significant action. Banks have the possibility of closing certain accounts when they remain without movement for several years. This decision is not made overnight. Letters are sent to the customer to inform them of the situation and give them time to react. But in the absence of a response or transaction, the establishment can finally close the account and the funds can then be transferred to the Caisse des Dépôts et Consignations. The money remains recoverable, but it is no longer directly accessible from the original banking institution. Between possible costs, the loss of visibility on the sums held and the formalities necessary to recover them, part of the savings can become much more difficult to find.
The best way to avoid this situation is to regularly check all of your accounts, even those that are almost never used. A simple transfer, deposit or withdrawal made from time to time is usually enough to show that the account is still in use. After all, even a few dozen euros deserve better than disappearing behind a pile of unopened bank letters.
