I don’t know about you, but the bank cannot arbitrarily decide that my money is gone because I didn’t deign to respond to them within a certain time period.
The moment the bank starts doing that it’s not a bank any more, it’s a scam.
Brushing aside the "giveaway" aspect of the parent comment, banks decide that money is gone (or inaccessible) because actors didn't respond within "reasonable timeframes" pretty frequently. For example:
- Banks are not legally obligated to honor checks older than 6 months
- Dormant accounts where the bank is unable to contact the account owner have their balances transferred to the state (State Seizure)
The latter probably makes a little more sense in this case since you could (depending on the issuer) just request another check from the source.
Comments
I don’t know about you, but the bank cannot arbitrarily decide that my money is gone because I didn’t deign to respond to them within a certain time period.
The moment the bank starts doing that it’s not a bank any more, it’s a scam.
Brushing aside the "giveaway" aspect of the parent comment, banks decide that money is gone (or inaccessible) because actors didn't respond within "reasonable timeframes" pretty frequently. For example:
- Banks are not legally obligated to honor checks older than 6 months
- Dormant accounts where the bank is unable to contact the account owner have their balances transferred to the state (State Seizure)
The latter probably makes a little more sense in this case since you could (depending on the issuer) just request another check from the source.