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Actually that is correct in many countries (including US). After a period of inactivity (typically 3-5 years) the bank is required to turn over the money from i
by BruiseLee 5y ago
Actually that is correct in many countries (including US). After a period of inactivity (typically 3-5 years) the bank is required to turn over the money from inactive accounts to the state. This process is called escheatment. I'm not joking.
- BoorishBears 5y agoOnly on HN would you need to specify "active account" for such a clear cut analogy. Two replies and both are picking that nit. Apple is admitting regardless of activity, studios can revoke their license to content, removing content from your active account
- elliekelly 5y agoThreads with analogies are one of my favorite HN idiosyncrasies because they’re almost guaranteed to be followed up with something along the lines of “a better analogy would be $materiallySimilarAnalogy” or “that’s not a good analogy because $immaterialDetail”. Just an endearing quirk of HN users to have a tendency to be overly-precise, I think.
- datavirtue 5y agoThat is a protection. The government holds the money and you can apply for it anytime. As can your relatives. Have you never received unclaimed funds you didn't know were due to you?
- irrational 5y ago> Have you never received unclaimed funds you didn't know were due to you? No... have you?
- cabaalis 5y agoHappens all the time. They even used to publish lists of unclaimed funds in the paper. It's occurred to me twice in my lifetime.
- rurp 5y agoYes, I have. My state has a website where you can search for and claim your funds back. It's quite easy.
- gingericha 5y agoFederal unclaimed property site: https://www.usa.gov/unclaimed-money https://www.usa.gov/unclaimed-money State unclaimed property index (find your state site at the top): https://unclaimed.org/search/# https://unclaimed.org/search/#
- Phrenzy 5y agoI've got a $200 check sitting on my desk from this very thing.
- tinus_hn 5y agoIs this what the 419 scam stories are based on?
- mygoodaccount 5y agoYou've implied it's permanent transfer of ownership to the state. It's not. From wikipedia: "Escheats are performed on a revocable basis. Thus, if property has escheated to a State but the original owner subsequently is found, escheatment is revoked and ownership of the property reverts to that original owner." https://en.wikipedia.org/wiki/Escheat#United_States https://en.wikipedia.org/wiki/Escheat#United_States
- barbacoa 5y agoI had 19¢ in a bank account I that sat dormant for 4 year. Still there when I logged in and started using the account again.
- rafale 5y agoIt's not an inactive account if it is being logged in.
- barbacoa 5y agoI didn't log in for 4 years.
- thamer 5y agoLet's hope they don't close your account. In Futurama's "A Fishful of Dollars"[1] Fry discovers that the $0.93 he had in his account when he was cryogenically frozen in the year 2,000 had grown at 2.25% a year to almost $4.3 billion when he was reawakened 1,000 years later. Yes, the match checks out[2]: 0.93 * (1.0225 ^ 1000) ≈ 4,283,508,449.71 [1] https://en.wikipedia.org/wiki/A_Fishful_of_Dollars https://en.wikipedia.org/wiki/A_Fishful_of_Dollars [2] https://www.wolframalpha.com/input/?i=0.93+*+%281.0225+%5E+1000%29 https://www.wolframalpha.com/input/?i=0.93+*+%281.0225+%5E+1...
- dTal 5y agoOf course that episode conveniently overlooks inflation. In reality, 4 billion dollars in the year 3000 would barely buy you a stick of Big Pink - the only gum made with the breath-freshening power of ham.
- cblconfederate 5y agowould be nice if apple/amazon/google did that too