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Abandoned Property of Banks customers

The Banking Act provides for banks to report as Abandoned Propert, the following in respect of which no activity has been evident for a period of 10 years.

  • Current, Savings or matured Fixed Deposit Accounts
  • Any official cheque, pay order or draft issued by a bank and not presented for payment
  • Any other intangible personal property and any income or interest that had been held by a bank in a fiduciary capacity
  • Safe Custody Deposit Lockers where rental period has expired and the lessee has failed to respond within 3 years to notices sent by the bank

Such Abandoned Property reported to the Central Bank of Sri Lanka (CBSL) will be, when so directed transferred to CBSL.Customers whose Accounts or Safe Custody Deposit Lockers which may fall into this category of Abandoned Property, could activate their Accounts by taking any of the following steps to indicate that the owner does not intend his/her property to be considered as abandoned.

  • A deposit or a withdrawal in the case of a customer account
  • Notification of a change of address or any other written communication
  • Present a pass book for updating
  • Payment of overdue safe custody locker fees, etc


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