Billions of euros are sleeping in forgotten accounts: find out if you are concerned – Economy

• 1 Where do these forgotten billions of euros come from?

An old A booklet of a deceased person, a company savings plan abandoned after a change of job, life insurance that has expired, unclaimed inheritances, etc. In five years, 6.4 billion euros from 10.7 million accounts and contracts have thus been “forgotten” by the French. We speak of an “inactive” contract when there has been no transaction on the account for a certain period of time (one year for a current account, five for a savings account) and if there is no no manifestation of the account holder during the year.

• 2 Are we notified if our account becomes inactive?

The law obliges the banks, once the inactivity has been noted, to send a letter every year so that the holder or the beneficiaries come forward and reactivate the account. But if nothing is claimed after ten years (or three years, for a deceased person), the funds are transferred to the Caisse des dépôts.

• 3 Can we recover the sums that belong to us?

As long as they are claimed before a total period of 30 years, it is possible. The Caisse des dépôts is, in fact, responsible for “keeping, allowing its holders, beneficiaries and heirs to find it, and managing requests for restitution” for another 20 years. Since 2017, more than €550.5 million have already been returned to their beneficiaries, with an average amount of €2,876.

• 4 How do I know if I have forgotten money?

You must first contact your bank to take stock of your current and forgotten contracts. For contracts that have exceeded the bank retention periods, you must go to La Ciclade (https://ciclade.caissedesdepots.fr) : this site will allow you to know if you have “dormant” products. A simple form is to be completed. The data entered is immediately compared with that transmitted by the financial institutions. In the event of a match, and if forgotten funds are found, you must create a personal account or connect to it, in order to go further. If you are not an internet whiz, don’t panic: a telephone number is also available, 08 09 40 40 41.

• 5 What documents do I need to provide to prove my identity?

If you find a dormant account belonging to you, you will need to send an identity document, proof of address and proof of inheritance in the case of an inheritance. It will also be necessary to provide an RIB: the Caisse des dépôts transfers the requested money directly to the beneficiary’s bank account.

• 6 If I exceed the 30-year time limit, what happens?

The sums will be definitively transferred to the State and no further recourse will be possible. Since 2016, this represents “lost” €326.49 million that ended up in the pockets of the State.