FirstBank of Boulder - dba 1stBank or eFirstBank Complaint - - Bank accounts

Review by propture on 2008-02-10
BOULDER, COLORADO -- When you make a bank deposit, in this case at FirstBank of Boulder (also known as 1stBank or eFirstBank), you expect your money to be there when you want to withdraw it.

I had funds on deposit at FirstBank of Boulder for 5 years, and they decided to “abandon” my money and send it to the State. 1st Bank had an incorrect address on file, along with another correct address and two phone numbers. Well, I got the money back from the state along with an adequate settlement from the bank.
Comments:4 Replies - Latest reply on 2008-02-10
Posted by Ponie on 2008-02-10:
Didn't you suspect there might be a 'problem' if you didn't hear from them for five years? You should have been receiving a tax statement for interest earned each year. Don't know about other states but in mine, if a bank account has no activity for five years according to state law, it's considered 'abandoned.'

Are you a disgruntled former employee of this bank? :)
Posted by madconsumer on 2008-02-10:
this is standard for abanded accounts. you should have kept up with your own account.
Posted by Anonymous on 2008-02-10:
Sounds like they did exactly what is required by the law. You didn't take the responsibility to update your address when you moved. Regulations dictate that the funds must be turned over to your state.
Posted by madconsumer on 2008-02-10:
upon further thought, the state holds the funds another set amount of time. the bank should have a contact that you should be able to call to claim the money. from time to time, companies buy htese names and assit you in making the claim. for a fee. but you can do this yourself. if anything, do a web search for your states 'un-claimed money' and follow the links.

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