Bank of Israel launched a site to search for “sleeping” accounts of relatives

Previously, information about such accounts could only be obtained from each individual bank. Banks were not required to track down the beneficiaries of these accounts and inform them about the “dormant” money.

Experts note that such rules were beneficial to banks and made it possible to manage money from “dormant accounts.”

In total, approximately 9 billion shekels are stored in “sleeping accounts” in the country’s banks. Using the new website, information about the presence of “dormant accounts” can be obtained from a computer or phone.

Israel’s Chief Banking Inspector Hedwa Bar explained to the publication a number of points related to the operation of the new site.

On the website you can only get information about the availability of such accounts, but not about the amount and type of deposit, or account number. Information about the presence of “dormant accounts” is issued if no activity has been recorded on them for at least two months.

On the site you can also get information about operational accounts (“over the counter”), if no activity was recorded on them for ten months and the bank was unable to contact the account owners after that.

Bar Hedva noted that one should take into account the fact that some “dormant accounts” have debts. To clarify the details, citizens of the country can contact the banks where these accounts were opened.

There are approximately 480000 dormant accounts in Israel. Among them are approximately 64000 accounts whose owners have died.

Ynet Edition notes, that in approximately 60% of cases, dormant accounts accumulate an insignificant amount of several hundred shekels.

The site's services for detecting dormant accounts are free.

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