Up to €4.2 billion is sitting in forgotten German bank accounts right now. Most of it belongs to people who have died.
Their heirs have no idea the money exists. The banks are not looking for anyone. They are just collecting maintenance fees, year after year.
Banks call these “dormant accounts.” The money never expires, and banks are legally required to pay it out to the rightful heir.
After 30 years, the tax office steps in to collect its share. The tax office treats the balance in a dormant account as profit and charges tax on it.
Don’t worry, your money is not lost. The bank still has to pay you if you come forward.
How to find out if a deceased relative had a bank account
The process depends on which type of bank your relative used. In all cases, you will need proof that you are the rightful heir. A certificate of inheritance (Erbschein) or a will with a court opening note.
- Savings banks (Sparkasse): Contact the German Savings Banks and Giro Association by post or email at [email protected]. Include a copy of your certificate of inheritance or will, your address, and the deceased’s last place of residence. The association forwards your request to the relevant regional association. If an account is found, the savings bank contacts you directly. A small fee may apply.
- Volksbank or Raiffeisenbank: These banks offer an account tracing service through their association’s website. Note that this is not a central office. Each regional association handles the inquiry separately, and the search is limited to one federal state. Costs vary depending on the scope of the research.
- Private banks (e.g. Deutsche Bank, Commerzbank): Contact the Federal Association of German Banks at [email protected]. If you can prove your entitlement, they will initiate a nationwide investigation across their member institutions. If an account, safe deposit box, or securities account is found, the bank contacts you directly. This service is free of charge.
- Public banks and building societies (e.g. DKB): The Federal Association of German Public Banks no longer offers a central search service. You must contact each bank directly.
Best free bank accounts in Germany ->
This is why it’s vital to have a lasting power of attorney and share a copy with your relative.
