a stupid question here i guess but it has been triggering me for the past few days with the recent increase in the no. nepalese student's deaths.what happens to the money that they have in bank? has anyone got any idea?

The bank have certain policies. If a person doesnt claim the money in his account for this time period then the bank will keep the money.

So many assholes in sajha.

Lalupathey.....he already said that it's a stupid question but since everything is going on right now, I would say a little insensitive...no pun intended .....you don't have to so venomous about it....Well.....I am not here to fight....

I will answer that question for you pal coz I used to wonder about it too.....not about somebody dying and leaving money but somebody not claiming their money....

They try to contact the beneficiary. If all else falls, the acct remains inactive for a while. After ceratin time, the bank turns that money to state.....

ceratin=certain

Ram Prasadji, certainly I am not harsh to this fella. Generally who's lack of common sense are the ones who are defensive. apparently Mr.Yorker has appected the fact that he is asking " a stupid question".

certain=certain; any substitue of it?

lalupathey,when i was hunble enough to accept that it was a stupid question,why did u have to blurt out the word"a$$ holes?"
still no hard feelings here.
thanks a lot slash and ram prasad.recently i'd been mulling over the fact that i cud b the next victim.thanx again guys.

in US, after death your WILL will be executed and your assets will be distributed based on your WILL. (O:

now if you do not have WILL then your assets will be forfeited to the STATE. [ one can claim it and based on court's decision can take it back]

BANKS are only KEEPER of the money. THEY CANNOT TAKE IT AWAY.
So, if somebody CLAIMS it and have VERIFIABLE DOCUMENTS. BANKS HAS TO RETURN THE MONEY TO THE RIGHTFUL OWNERS.

UPON DEATH STATE can take assets, bank accounts if there are no beneficiaries or claims.

if there are no beneficiaries in the account, the amount is defaulted to the estate of deceased/non-claimant which is overlooked by the bank itself or the state the account is held at, depending on the state.

sujanks,
beneficiary are NOT required/even asked in any BANK aCCOUNTS unless its IRAs or 401ks.

well incorrect term - not necessarily "beneficiary". someone who'd get assets (ssn is asked by many financial intitution, but it is just an option. mutual funds, cds and fixed deposits have such options. my bank asked me for the chekcing acct as well.