Billions of euros in Germany remain untouched in so-called dormant or “forgotten” bank accounts, as depositors’ heirs often cannot identify the funds after deaths or when account holders are unaware of their own assets. Several reports note that Germany does not have a single central register to help relatives locate such accounts, leaving banks and politicians to discuss who should ultimately control the money. A 2021 estimate cited by one outlet, based on a report from Germany’s research ministry, puts the figure at up to €4.2 billion. Other figures referenced in reporting are higher, reaching as much as €9 billion, while banks have not published a comprehensive total. Challenges include people having multiple accounts, customers growing older, and relatives lacking information to confirm whether dormant accounts exist—especially when online banking reduces written documentation and printed statements. As Germany faces competing fiscal priorities, discussion continues over how the funds should be handled, including potential rules on ownership and the redistribution or use of unclaimed assets.
Germany debates ownership of billions in dormant bank accounts
Billions of euros in Germany remain untouched in so-called dormant or “forgotten” bank accounts, as depositors’ heirs often cannot identify the funds after deaths or when account holders are unaware o...
- Billions of euros are held in dormant or “forgotten” bank accounts in Germany and remain unused.
- Heirs and relatives often have difficulty identifying these accounts, particularly when account holders were unaware or accounts were held online.
- Germany does not have a central register that would allow easy identification of dormant accounts.
- Estimates vary: one 2021 research ministry estimate suggests up to €4.2 billion, while other estimates put the total as high as about €9 billion.
- Banks have not released a definitive overall figure, and politicians and banks debate who should control the money.
Billions of euros sit untouched in dormant bank accounts in Germany. With heirs unaware and no central register in place, banks and politicians are debating who should ultimately control the money.
2 months agoBillions of euros sit untouched in dormant bank accounts in Germany. With heirs unaware and no central register in place, banks and politicians are debating who should ultimately control the money.
2 months agoWhile Germany is trying to make major budget cuts, billions of euros are silently sitting in banks and other financial institutions, unused and unnoticed in so-called forgotten accounts. A 2021 report from the country’s Research Ministry estimated that up to €4.2 billion ($4.9 billion) was in such accounts. Other estimates are much higher, some as high as €9 billion. The banks themselves haven’t released any figures. As people get older, have multiple accounts or die, relatives and heirs have a hard time identifying accounts. Online banking, with no paperwork or printed statements, makes it more difficult because the information is […]...Keep on reading: Who owns the billions in Germany's 'forgotten accounts'?
2 months agoBillions of euros sit untouched in Germany's dormant bank accounts. With heirs unaware and no central register in place, banks and politicians are debating who should ultimately control the money.
2 months ago
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