Legal Question in Banking Law in Florida

is interest paid on unclaimed ''in trust for'' bank account?

Sister left bank account in trust for me, balance about

$125.00 in 1982. Have passbook.

Last year discovered this on web. Applied to Florida,

returned form. Was sent check for approx. $145.00.

Does Florida pay interest on this account?


Asked on 1/29/03, 4:42 pm

1 Answer from Attorneys
George Savage George S. Savage, P.A.

Re: is interest paid on unclaimed ''in trust for'' bank account?

I am unfamiliar with any Florida law that any checking or saving account receive a certain interest rate. That would depend on the savings account rate and the contract entered into at the time of the deposit. However, it seems low. Maybe you should ask for an explanation of any charges against the account over the past years.

Good luck.

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Answered on 1/29/03, 7:45 pm


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