By The Ledger desk · Last verified 28 September 2026

Money left in a bank account you’ve forgotten about doesn’t disappear. In 2023, the three local banks held about 215,000 individual accounts that had been dormant for at least 15 years, worth about S$300 million in total. MAS said then that it doesn’t prescribe how banks treat dormant accounts, but that account holders, or the authorised representatives of one who has died, can contact the bank at any time to reactivate the account or claim the money.

Quick facts

• About 215,000 accounts at the three local banks had been dormant for 15 years or more in 2023.
• Together they held about S$300 million.
• You can contact the bank at any time to reactivate or claim.
• Representatives of a deceased account holder can claim for the estate.
• Some banks send letters when an account goes quiet.
• Court and solicitors’ client money has separate unclaimed-funds rules.

What happens to a dormant account?

Each bank sets its own practice. In practice, some banks write to account holders when an account has been inactive for a while. Beyond a point, MAS has said, it isn’t practical for banks to keep tracing people. But the money stays yours, and you can reactivate the account or claim the balance by contacting the bank.

How do I get it back?

• Contact the bank where you think the account is, with your identity documents.
• Bring any old passbook, statement or account number if you have one.
• Ask to reactivate the account or to close it and withdraw the balance.

What if the account holder has died?

Their authorised personal representatives, such as the executor or administrator of the estate, can contact the bank to claim the funds on behalf of the estate.

What other unclaimed money is there?

Two kinds have formal rules. Money from Supreme Court cases that nobody has claimed is transferred to the government if it’s still unclaimed after six years, and the Accountant-General publishes an annual list of accounts untouched for four years or more in the Government Gazette. Separately, law firms can move unclaimed client money into the Law Society’s Unclaimed Money Fund, from which owners can apply to reclaim it within six years of the transfer.

The WahLiao Verdict

Make a list of every account you’ve ever opened, school accounts included, and close the ones you don’t use. If a parent has passed away, ask each bank they used; small sums add up, and nobody else will go looking.

Questions people ask

Is there a central database of dormant accounts?

Not for bank deposits. Contact each bank directly.

Is money in a dormant account still insured?

Singapore-dollar deposits at member banks remain within the deposit insurance scheme. The SDIC guide on this desk explains the limits.

How do I stop an account going dormant?

Make a small transaction from time to time, or close the account if you don’t need it.

How do I check for unclaimed court funds?

Through the Accountant-General’s annual list in the Government Gazette, and the Supreme Court’s guidance. It advises getting legal advice for claims.

Sources: Prime Minister’s Office, written answer on dormant bank accounts (September 2023); Supreme Court, unclaimed funds; Law Society of Singapore, Unclaimed Money Fund. The Ledger explains; it does not advise.

Read next: Deposit Insurance in Singapore · Money Lock and Anti-Scam Features · Back to The Ledger

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