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.

Related Videos




http://www.businessdictionary.com/definition/unclaimed-balance.html

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z