In 1986 and 1987 I purchased two 5 year IRA savings certificates from First American Bank, Washington, D.C. In 1993 when I wanted to cash them in I found the bank had been sold and then sold again to Wachovia Bank of Charlotte, N.C. All this was while I was working in the arctic.
After years I found they still operate from the exact same building near the White House in Washington, D.C. But due to the changes in ownership and my remote location I was unable locate the correct new bank name and address to cash in my accounts.
Now that I am retired, have time, and have Internet, and have contacted the FDIC I have found out the true owner of my bank and their address, plus the changes in names and manipulations they have gone through. Now they say simply they know nothing of my account numbers, money, and name. Or they hint rather that they turned it over to their "Escheat Dept." (Cheat! That is real cool) which indicated that my money must have been turned over to the City of Washington, D.C. Government. However, the D.C. Government has no record either. The bank apparently just rips people off if you are out of town by converting your saving accounts to theirs!
Robert
D' Escousse, Nova Scotia
Canada
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