SBP receives unclaimed deposits – How to recover your funds

The State Bank of Pakistan (SBP) has announced that all banks and development finance institutions (DFIs) have transferred their unclaimed deposits up to December 31, 2024. This means people can now claim money from dormant accounts or old financial instruments that have been inactive for many years.

Unclaimed deposits usually include bank accounts that have not been used for a long time. They can also include pay orders, demand drafts, or fixed deposits that were never collected. The SBP says that large amounts of money are still lying unclaimed. It is encouraging citizens and legal heirs to check if they have any funds waiting for them.

How to Check Unclaimed Deposits

To see if you have any unclaimed money:

• Visit the official website of the State Bank of Pakistan or your bank’s unclaimed deposits page.

• Select the relevant year.

• Choose the name of the bank or DFI.

• Download the Excel file that shows details such as branch name, province, account holder’s name, CNIC or passport number, address, and amount.

• Use “Ctrl+F” to quickly search your name or CNIC number.

How to Claim Your Money

If you find your name on the list, follow these steps:

Visit the Bank:
Go to the branch where the account was opened or where the financial instrument was issued. If that branch is closed, visit the nearest branch of the same bank. If the bank has merged with another bank, contact the new bank’s nearest branch.

Submit Required Documents:
You will need:

• A written and signed application with account details.

• A copy of your valid CNIC or passport.

If the account holder has passed away:

• A succession certificate from a court.

• If the amount is less than Rs. 100,000, an indemnity bond on Rs. 100 stamp paper signed by all legal heirs, along with their CNIC copies and the death certificate.

The branch manager will send your claim to the concerned department. After verification, the SBP will return the money to the bank, and it will be credited to your account.

Many people may not know that they or their families have unclaimed money. By following the proper steps, they can safely recover their funds.