CitiBank lost my grandmas Savings Account details along with 10,000?

She opened a savings account in 2002 with citibank with a 2.5% yield rate. Turns out that in 2006 they handed over the money to the state (California Unclaimed Property Department)

After calling the State turns out that they never recieved anywhere near that amount of money.  After going in person to the bank it turns out that they dont keep records that are 10 years or older. What is the best action I can take against the bank they are not really helpful and don't seem interested in helping.

They are not even able to provide a written statement that they handed the money over to the state. However, my grandma has documents showing proof of the money being in a savings account.

12 Answers

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  • 1 month ago

    There is nothing that you can do.

    If the account had no transactions since 2002, the bank was well within the law to send the balance to the California Unclaimed Property Department. Once the money is handed over, there is no interest paid.

    In some cases (I don't know about Citibank). there is a fee for accounts with no activity. It could be that this is where some of the money went. They are under no legal requirement to hold the information for such a long time. 

    If the money has handed over in 2006, then there is no way that they would keep any records of this.

    Your grandmother will have to accept the amount that remains.

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  • 1 month ago

    Your grandmother is the party that lost the details. I GUARANTEE your grandmother didn't show you the records of her WITHDRAWS.

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  • Anonymous
    1 month ago

    I keep some money in my bank account, but not all of it. People do make mistakes, and any mistakes that are made can cause problems, for someone else.

    The reason why I don't keep all of my money in my bank account in because I think it's possible that I could lose all of my money.

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  • Eva
    Lv 7
    1 month ago

    Proof of the initial deposit won't be enough. She could have made withdrawals at any time. Your grandma would need a statement dated close to the time it was turned over to the state. She would have received several "inactive account" letters from the bank before it was turned over. Don't blame the bank. They did what they were supposed to do.

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  • 1 month ago

    Sounds like your Grandma should hire a lawyer.

    • Luis1 month agoReport

      Any idea what kind of lawyer?

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  • Judy
    Lv 7
    1 month ago

    Unfortunately, grandma's proof that the money HAD been there doesn't prove that it was still there when the remainder of the account was send to the state.

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  • 1 month ago

    It doesn't matter if gramma can show the money was in the account.

    She could have it in the bank one day and take 100% of the money out 30 seconds after that statement was printed. 

    Show the bank every statement/transaction and you will have the proof you need.

    I'm 99.99999999% sure that Citi turned over the correct amount. 

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  • 1 month ago

    If the bank doesn't  keep records past 10 years, then how could they provide you with the records or a statement?

    Even if they did have records, their records would show the balance to be the same as was turned over to the state. 

    If you have proof, I would contact an attorney. However, you would only be able to prove a balance at a given time. Can you also prove no money was withdrawn after that date? 

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  • Erik
    Lv 7
    1 month ago

    The reason they're not interested in helping is that they don't care.  I'm sure they did everything by the book.  They notified her, she didn't respond, and that was that.  You can keep fighting, but I'm sure the law is on their side.

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  • 1 month ago

    You sure she didn’t just spend it?

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