Bank of America warns: accounts in the United States will be disabled if this requirement is not met.

Customers can access their online account and, from the Help and Support menu, select the option to update their personal information. 

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 Bank of America in the United States, informs its customers through its official website under what circumstances a bank account may be classified as abandoned property and what procedures are necessary to prevent it from being transferred to state custody. This decision is made when the account has experienced a prolonged period of inactivity, making it susceptible to being considered unused. In these cases, the customer will receive a notification with instructions on the next steps. In this context, the bank explained the best strategy to prevent financial problems and ensure that both the account and the funds remain available. 

  What accounts could be lost?

According to the bank, customers who have not accessed their accounts for an "extended period of time," typically three years or more, may receive a notice from Bank of America warning that their account has been deemed abandoned property.

In such circumstances, the bank must comply with state ownership transfer regulations, which require it to report the account as inactive and subsequently forward it to the appropriate state agency for safekeeping."Each state's legislation defines when an account is considered inactive and/or abandoned, as well as when we are required to transfer ownership of the customer to the state," the financial institution explained.

Bank of America's U.S. headquarters indicates that upon receiving notification of this measure, customers should follow the instructions provided in the letter to contact the bank and prevent the transfer of their account.

What properties may be subject to these regulations?

Properties that could be considered for reversion include:

• Checking and savings account balances.
• Balances in Certificates of Deposit and Individual Retirement Accounts (IRAs).
• Safe deposit boxes.
• Uncashed cashier's checks and other official documents.
• Values.

In addition to updating their information, Bank of America recommends that its customers periodically review their account statements and recent transactions. This helps identify any suspicious activity and take immediate action if irregularities are detected. Online and mobile banking are useful tools for monitoring accounts in real time and receiving personalized alerts about specific transactions.

All customers are encouraged to use the tools provided by the bank to keep their data up-to-date and stay informed about financial security best practices.