It’s perfectly understandable that you may have questions about our services and the account recovery process. While each circumstance is different, we’ve collected the following list of the most commonly asked questions we receive and provided the answers below.
- Why was I contacted? We have determined that you are the rightful owner or beneficiary to an account that is dormant or unclaimed. We contacted you to begin the process of establishing and proving your legal entitlement to the account. The first step in our process is to contact you to determine whether you are aware of the account in question.
- What is a dormant account? In the United States, dormant financial property is defined as accounts or assets to which your ownership has become disconnected. There are over 100 different asset types, including bank accounts, shares of stock, mutual funds, insurance proceeds, or brokerage accounts. Companies are required by law to turn dormant accounts over to the government after a period of time- typically 3-5 years.
- How does property become dormant? There are many possible ways. For instance, an account is considered dormant if there have been no transactions or if the mailing address on the account is out of date for several years. Also, this can occur if an account was missed or not handled by a deceased account owner’s estate. Regardless of how the situation occurred, Global Claimant Services has contacted you to update the account and reconnect you with your account as soon as possible.
- How did you locate me? The trail to connect you with the dormant account or asset is often tangled and complicated. Companies who work with us can’t make the connection, and most people wouldn’t know where to begin. Keane’s Global Claimant Services division specializes in locating and communicating with account owners that live outside of the United States. Our teams use a range of electronic data, genealogical resources, and manual investigation techniques to conduct research around the world.
- Who does Global Claimant Services work for? Our clients are corporations and financial institutions that look to us to help them find the rightful owners of certain financial accounts that have remained dormant for a number of years. Finding dormant property owners can be surprisingly difficult. The truth is, companies who work with us want to do everything they can to make sure the property is returned. In fact, many choose to go far beyond what they are legally obligated to do to protect the interests of their customers.
- What service does Global Claimant Services provide? At Global Claimant Services, our goal is to make it as simple as possible for you to claim your account. In addition to handling all ongoing communications, we’ll take care of matters such as document replacement, registration transfers, legal fees, court costs, fiduciary bonds, etc. Your Account Representative will make sure your questions are answered and your concerns are addressed throughout the process.
- How long will the Account Recovery Process take? Each situation we encounter is unique and varies in complexity. To ensure that the process is completed in a timely manner, we encourage you to complete and return all required documents promptly. Also, it is advised that you speak with your Account Representative immediately if you encounter problems or have any questions about timelines and/or next steps.
- Do I need to act on this now? It is very much in your best interest to act quickly. State laws mandate that, after a period of time, unclaimed property must be remitted to the state governments. It will still be technically yours, but the state will hold it unless you come forward. As you may expect, it can be difficult locating and processing the return of any property that has been transferred to the state. Statistically, only a small fraction of the assets remitted to the states ends up being returned to owners or the proper legal claimants.
- What will you need from me? In some cases, we may need a copy of some key documents such as a birth certificate or your driver’s license. Your Account Representative will let you know exactly what we need to prove your entitlement to the account.
- How can I be sure this isn’t a scam? While it’s perfectly understandable to have an initial feeling of skepticism or disbelief, rest assured this is not a scam. Keane and Global Claimant Services are registered members of the Better Business Bureau, as well as the Greater New York and Philadelphia Chambers of Commerce. Additionally, the account recovery experts that make up our team have been prominently featured in a variety of national, regional, and industry leading publications. Our ultimate goal is to reunite you with the assets to which you are entitled, while making the entire process as transparent and simple for both you and your family.
We even invite you to visit one of our offices to discuss your case and answer any questions. If this is an option you would like to pursue, please make arrangements with your Account Representative by calling the number provided in your letter.