unclaimed balance
Definition
Money left undisturbed in an inactive bank account which eventually (commonly 5 years after the last transaction) is considered an abandoned property whose ownership passes on to the State under the escheat laws. See also dormant account.
unclaimed balance is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
This content can be found on the following page:
http://www.businessdictionary.com/definition/unclaimed-balance.html
email to a friend
print this definition
cite this definition
link to this page
