Had an Account at a Bank That Closed? Here Is How to Claim Your Money for Free

Your money does not disappear when a bank closes

When a bank or credit union fails, your insured deposits do not vanish. A federal agency steps in to protect them.

The Federal Deposit Insurance Corporation (FDIC) handles closed banks. The National Credit Union Administration (NCUA) handles closed credit unions.

Sometimes people move, change their mailing address, or simply lose track. When that happens, the money can sit unclaimed. The FDIC keeps a free online tool where you can search for it by your name, a business name, or a check number.

How the FDIC holds unclaimed funds

The FDIC collects account information to figure out deposit insurance coverage and to pay out deposits from a closed institution.

Giving your information is voluntary. But the FDIC notes that not providing it may delay or prevent your payment, so it helps to be complete and accurate.

The FDIC's search page requires a name or a check number. You can narrow it by adding the failed institution's name, city, or state.

Watch out for anyone who wants a fee

The FDIC search and claim process is completely free. You never need to pay a middleman to find or release your own money.

Some private companies, sometimes called finders, offer to track down lost funds for a cut. You do not need them. Everything they do, you can do yourself for free on the official FDIC website.

If a company pressures you or asks for payment up front to recover a closed bank account, treat that as a red flag.

Frequently asked questions

Does it cost anything to claim money from a closed bank?

No. Searching and claiming through the FDIC is free. You never need to pay a company to find or release your own money.

What if my credit union closed, not a bank?

The FDIC covers banks. For credit unions, the National Credit Union Administration (NCUA) handles closed institutions. Check with the NCUA in that case.

What information do I need to search?

You need at least a name or a check number. To narrow your results, you can add the failed institution's name, city, or state.

A company offered to find my lost bank money for a fee. Should I use them?

You do not need to. Everything a finder does, you can do yourself for free on the official FDIC website. Be cautious of anyone asking for payment up front.