Abandoned property

Abandoned properties are financial assets owned by individuals or businesses, for which there has been no activity or contact made by the property owners over a set period of time, usually three or more years. Properties that can be considered abandoned include, but are not limited to, uncashed checks, bank deposits (savings, checking, CD’s, etc.), and contents of safe deposit boxes.

 

The law establishes procedures under which Abandoned Property must be surrendered to the applicable state. If your property is surrendered to the state, you may be able to reclaim them, but your claim must be presented to the state. Once your property is surrendered, we no longer have any liability or responsibility with respect to the property.

Why did I get a letter asking me to contact Capital One?

According to our records, you have a bank account with no activity, or an uncashed check and we haven’t had contact with you in 3 or more years. We are required by state law to send you a notification and grant you a specified amount of time to claim your property.

 

How can I prevent my funds from being considered abandoned property and turned over to the state?

In order to prevent your property from being considered abandoned, we must have contact with you. Contact is initiated by you, the customer. This will help us verify you as the property owner and confirm that your property is not abandoned. For information on what is considered contact, in relation to your specific property type, see the additional information provided under the appropriate label.

 

By following the instructions outlined in the letter you received, you can claim your property before it is turned over to the state.

 

What if I miss the deadline to contact Capital One?

If the deadline to contact us passes, you will be required to file a claim with the state’s unclaimed property administrator in order to claim the property. For more information, contact the state’s abandoned property department.

 

What if my name has changed?

If your name has changed and is different from the name in our records, please provide a copy of one of the following documents in addition to the claim form:

• Valid driver’s license or a state issued identification
• Marriage license
• Divorce decree
• Court order of name change

What if I am submitting a claim for another person? (e.g. owner is deceased, estate is closed, owner is living but unable to sign and complete the form)

If you’re submitting a claim for a deceased person, you must provide the following documents along with the acknowledgment claim form:

1. Death Certificate: this will issue the property to the estate of the decedent
2. Letter of Administration or Testamentary (in addition to the Death Certificate): this will issue the property to the administrator

If you’re submitting a claim on behalf of someone else for another reason, or have additional questions, please call us at 800-655-2265. Keep your letter handy when you call.

What is considered contact for an account?

We need to hear from you by either signing and returning the enclosed acknowledgement form or by making a transaction on your account (deposit, withdrawal, check). Receiving a monthly statement or seeing interest posted to your account does not count as contact.

 

What if my account is a CD?

Although the purpose of a CD is to leave it alone and let it keep earning interest, we still need to hear from you by completing and returning the acknowledgement claim form.

 

By claiming my abandoned property, how do I receive it?

By recording contact with us on an account balance before it is escheated, your account will remain open and you will have access to your account as normal. If you want to liquidate your account, please contact us at the bank number that best suits your inquiry.

What is considered contact for an uncashed check?

For an uncashed check, you must complete and sign the acknowledgement form included with your letter, and return the completed, signed form in the business reply envelope to Capital One at the addresses below:

 

Standard Mail: Capital One Bank, Attn: Bank by Mail, PO Box 85090, Richmond VA 23286-9273
Overnight Mail: Capital One Bank, Attn: Bank By Mail, 15000 Capital One Drive, Richmond, VA 23238

 

I don’t recognize this check. Can you provide more information?

The check referenced in the letter you received has not yet been cashed. Although we cannot disclose specific information about the check, these are some of the reasons why you may have received a check from us:

1. You overpaid your credit card
2. You overpaid a loan
3. You had a remaining balance on a closed account
4. You were owed fee refunds

I received a notice for an uncashed check of a business that has closed and is no longer operating. How do I claim the check?

If you received a notice for a check in your business name, and that business has closed, when you complete and return the acknowledgement form, please also provide dissolution documents showing the company has closed and that you owned the company. When verified, we will issue the check to you in your name.

 

How can I prevent my uncashed check from becoming Abandoned Property and turned over to the state?

Fill out and sign the acknowledgement form included with your letter, and return the completed, signed form in the business reply envelope to Capital One at the addresses below:

 

Standard Mail: Capital One Bank, Attn: Bank by Mail, PO Box 85090, Richmond VA 23286-9273
Overnight Mail: Capital One Bank, Attn: Bank By Mail, 15000 Capital One Drive, Richmond, VA 23238

 

If I return the acknowledgement form before the deadline passes, will Capital One issue me a new check?

Yes. Upon receiving the acknowledgement form and processing your claim, Capital One will issue you a new check sent to the address provided on the form. You can expect to receive your new check in 6-8 weeks.

I have more questions. Where can I get more information?

For general questions about abandoned property, please visit the National Association of Unclaimed Property Administrators. If you have more questions about your letter, please call us at 800-655-2265.