A family member found an original certificate of deposit recently. This person had no recollection of ever cashing in the certificate (original certificate in hand). Since the institution is still in business, they approached the bank for the payout. The local branch manager said they would research and then indicated the bank had no record of the certificate (issued in 1999). The state has no record of unclaimed assets. The certificate bears the family member's correct name and current address. Is the bank required to provide proof of disbursement since the original documentation was provided? Even if the bank paid out using a ‘lost documentation’ procedure, shouldn’t there be a record of payment? Does my family member have any recourse?
The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.