Escheatment for Banks
Eisen is the first escheatment automation solution for banks. Eisen handles everything from dormant accounts and customer outreach to disbursements and state escheatment. Whether checking, savings, or CDs, Eisen ensures a smooth offboarding process for banks of all sizes.
Focus on onboarding customers, not offboarding them.
Struggling to manage various types of unclaimed property, from dormant accounts to uncashed checks, across your retail, commercial, or sponsor bank operations? Eisen empowers banks to proactively manage unclaimed property, ensuring compliance and reducing the risks of non-compliance with escheatment laws.
Say goodbye to cumbersome manual processes, scattered spreadsheets, and the constant risk of regulatory fines. Eisen’s platform automates every step of the offboarding process, including the identification and management of dormant checking and savings accounts, unclaimed certificates of deposit, loan overpayments, uncashed cashier’s checks, and escrow refund balances. From automating customer outreach to tracking state escheatment timelines, Eisen ensures you remain compliant without draining internal resources. Whether you’re managing large volumes of dormant accounts for retail banking, handling commercial client payouts, or managing fintech program accounts for sponsor banks, Eisen helps you stay compliant and protected. Compliance isn’t optional, but with Eisen, it’s effortless.
How Eisen Helps Escheatment for Banks
Dormant Checking Accounts
Automatically identify and manage dormant checking accounts to ensure compliance with state escheatment laws. Eisen tracks inactivity, automates customer outreach, and prepares accounts for closure or escheatment, ensuring you stay ahead of regulatory deadlines.
Abandoned Savings Accounts
Eisen helps you streamline the management of abandoned savings accounts, eliminating manual processes and ensuring compliance. Track account inactivity, automate communication, and seamlessly transition unclaimed funds to escheatment as required by state law.
Unclaimed Certificates of Deposit (CDs)
Eisen automates the identification and management of unclaimed CDs, ensuring timely customer outreach and compliance with escheatment deadlines. Effortlessly track maturity dates, trigger notifications, and manage the escheatment process from start to finish.
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Loan Overpayments
Eliminate the risk of loan overpayments becoming a compliance burden. Eisen tracks overpayments, automates customer notifications, and ensures that excess funds are refunded or escheated in accordance with state laws.
Escrow Refund Balances
Manage unclaimed escrow refunds with ease. Eisen automates the process of identifying unused balances, contacting customers, and handling escheatment to ensure full compliance with state regulations, reducing operational risks and fines.
Uncashed Cashier’s Checks
Eisen simplifies the process of managing uncashed cashier’s checks, from tracking outstanding checks to ensuring proper escheatment. Automatically flag checks approaching dormancy, notify recipients, and meet compliance requirements without manual intervention.
Effortless compliance with an accuracy guarantee.
Everything you need to monitor, manage, and mitigate risk from financial accounts at any scale.
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