Collect funds from inactive bank accounts or unclaimed life insurance

The Caisse des Dépôts (CDC), which received € 696.15 million from inactive bank accounts and dormant life insurance contracts in 2021, was revealed. Parisian Sunday, February 6th.

From July to December 31, 2016 “Euro 7.18 billion from 10.7 million accounts and contracts” Transferred to a public institution that returned € 550.5 million to the beneficiaries Family folderCaisse des Dépôts (CDC).

CDC will retain the funds it receives for a period of time. You can recover them until the end of this period by using a site that allows you to find the amount you should pay, Ciclade.caissedesdepots.frOpened by the CDC in January 2017, it complies with the June 13, 2014, Act on Inactive Bank Accounts and Dormant Life Insurance Contracts.

I took a Cyclade course in 5 minutes and realized that I had a savings plan from a company that hadn’t worked for 6 years. hop! 387 € has recovered and it’s the weekend.

Clement, data analyst, 27 years old (Saint-Germain-en-Laye).

You need to distinguish between the two situations depending on whether the owner, the person whose name the account was opened, is alive or dead.

The holder is alive

Your account will be inactive after a year when the following two criteria are met:

  • No transactions are made on the account (except for the entry of interest and debits by the institution holding the account of all kinds of fees and fees, or the payment of income or the repayment of capital or debt securities).
  • The account holder, his statutory agent, or anyone authorized by him has not contacted the institution or traded in another account opened in his name on the institution’s books.

The period for which an account must meet these criteria in order to be considered inactive will be extended to 5 years if:

  • Passbook account;
  • Period account. The asset will be blocked until the due date.
  • An account in which the assets and deposits of financial securities or savings products are recorded.

If all other accounts held by the same institution are also inactive, the account will be inactive.

Holder is dead

If the account holder dies, the account holder will be inactive at the end of the one-year period. In the meantime, the beneficiary has not expressed his desire to claim the rights to the assets and deposits recorded therein.

In which case can I transfer the funds from my inactive account to the Caisse des Dépôts?

The inactive account must be held by the holding institution. However, if this inactivity lasts for 10 years for live owners and 3 years for deceased owners, the facility will be closed and the amount will be transferred to the Caisse des Dépôts.

When is life insurance considered unclaimed?

For life insurance as well, it is necessary to distinguish whether the subscriber is alive or not.

Subscriber is alive

If the contract expires and the insured or subscriber does not require capital, the contract will not be charged.

Subscriber is dead

If the insurance company knows the date of death of the subscriber, the contract will not be charged.

When can I transfer the capital of an unclaimed life insurance policy to a Caisse des Dépôts?

The insurer must retain unclaimed life insurance while tracking the beneficiary. If there is no claim after 10 years, the contract will be terminated and the amount will be transferred to the Caisse des Dépôts.

If you are looking for a life insurance policy for someone who died within 10 years, please contact the Insurance Risk Information Management Association (Agira) if you do not know which insurance company you have a contract with. Please fill out the online form (Formulaireassvie.agira.asso.fr).

Have you been informed that your account is not in use or that you have no complaints about your life insurance policy?

The institution or insurance company holding the account must send you a letter each year to inform you that the account is not in use or the unclaimed nature of the life insurance policy. You can contact the facility or insurance company to collect the funds to prevent remittances to the Caisse des Dépaux.

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What should I do if the money is sent to the Caisse des Dépôts?

You need to distinguish between the two situations.

Your money was sent to the CDC in 2016

If the funds are transferred to the Caisse des Dépôts in 2016, the financial institution will hold a total of 1 to 27 years for assets from accounts or life insurance contracts opened in mainland France or overseas departments. Even in 2020 for accounts and life insurance assets opened in the ocean (DOM) or overseas communities (COM).

Your money has been sent to the CDC since 2016

If the assets of the French metropolitan area or overseas departments are transferred after 2016, and the assets of COM are transferred after 2020, the total will be retained as follows.

  • 20 years for an account whose owner is alive.
  • 27 years for the account whose owner died.
  • 10 years if the Housing Savings Plan (PEL) is the only account opened by the bank owner.
  • Life insurance is 20 years.
  • 20 years for capitalization and bearer bonds.

If your account remains inactive, or if your life insurance is not claimed for 30 years, the total will definitely be transferred to the state or COM. You no longer have the right to this money.

You can perform a search on the Ciclade.caissedesdepots.fr website. You need to send various data about the owner of the account or the subscribers of the contract (name, first name, date of birth, etc.).

If it matches the data held by Caissedes dépôts, you must create a space in Cyclade and make a return request within 15 minutes of the moment the search results are displayed. The request should include a copy of the following document:

  • Valid ID, passport, resident card, temporary residence permit, or birth certificate less than 3 months old for minors.
  • Death certificate in case the owner or subscriber dies.
  • Supplementary document when the funds are from real estate.
  • Proof of legal agent, if requested by legal agent.
  • If the notary makes a request on behalf of the client, the delegation given by the individual under consideration.
  • Bank account details (RIB) for the account you are using.

You can optionally provide information about the account or life insurance you are looking for.

Requests are processed by Caissedes dépôts. For verification, you will receive a transfer to your bank account.

Safes do not count towards Cyclade

Safes are not covered by the Cyclade site. The CDC indicates that you have not received the funds and objects displayed in these containers.And recommend people looking to get in touch with them “To find out how to get the content, the institution that holds the safe you are looking for”..