Overview

• Between €1.8 billion and €4.2 billion sit in so-called ‘nachrichtenlose’ accounts after 30 years without transactions or bank contact, according to a ministry-commissioned report.
• A draft proposal would redefine dormant accounts as those inactive for ten years, accelerating the transfer of funds to state oversight.
• Under the plan, recovered sums would be placed into a Social Impact Fund to back social innovation projects and remain available if owners reappear.
• The Deutsche Kreditwirtschaft cautions that shortening the dormancy period sends a message of possible government overreach into private assets.
• Consumer advocates advise keeping an up-to-date list of personal financial holdings and public surveys show voters remain divided over using unclaimed funds for social purposes.