ISLAMABAD: The State Bank of Pakistan (SBP) has issued guidance for citizens for retrieving unclaimed bank deposits, which consist of bank account funds that have not been used for ten consecutive years.
According to the Banking Companies Ordinance 1962 (Section 31), all banks and DFIs must transfer inactive fixed deposits and other account balances, cheques, drafts and bills of exchange to the SBP after 10 years of no activity. The only accounts that government institutions, courts and minor account holders can use stand as the sole exceptions to this rule.
The SBP has made a list of unclaimed deposits available for public access which shows the unclaimed deposits of each year through each bank. The list includes the branch name, province, account holder’s name, CNIC number, address, and deposit amount. The list can be searched by citizens who use Ctrl+F on their computers to find specific details.
How to Claim Unclaimed Funds
Individuals can contact the branch where the account was opened or where the financial instrument was issued.
If the branch has closed or moved to another location, they can visit the closest branch of their current banking institution.
The applicant needs to present the signed application together with their CNIC copy and all required documents.
In cases where the account holder has died, a succession certificate must be presented.
All heirs need to present an affidavit together with their supporting documents for amounts that fall below PKR 100,000.
The bank confirms the details after the branch sends both the application and records to the SBP. The bank receives the funds back after they approve the transaction and these funds get added to the applicant’s account.
This process ensures that inactive funds are safely returned to their rightful owners while keeping the banking system transparent.
