Billions in Dormant Bank Accounts Sit Unclaimed in Germany

Germany is grappling with billions of euros in dormant bank accounts that remain unclaimed and largely untracked. A 2021 government report estimated €4.2 billion in such accounts, though other estimates reach as high as €9 billion. The problem stems from multiple factors: people accumulate multiple accounts over their lifetimes, die without clear heirs, or switch to online banking that leaves information scattered across email and hard drives. Germany's strict data protection rules and lack of a unified legal definition of abandoned accounts have left banks with significant discretion in how they search for owners. Currently, heirs must contact various banking associations individually—a costly and uncertain process that discourages many from pursuing claims. The federal government has drafted legislation to establish a central, publicly accessible online register where heirs can search for dormant assets, though no regulations have been passed yet. A recent survey found that 86% of Germans support directing unclaimed funds to social projects after a reasonable period, rather than to banks or the government.