Unclaimed assets in Germany

Overview

Germany has no central unclaimed-assets register, no state fund and no public list. Dormant accounts and matured insurance stay with the institution that holds them. The compensating fact is that the money does not expire: a German bank is obliged to pay out a dormant balance to the rightful heirs even when the last movement was decades ago, a position confirmed by the Oberlandesgericht Frankfurt in October 2004. Estimates of money sitting in deceased persons' accounts range from around €2 billion to €9 billion, and no official figure is published. BaFin oversees institutions but takes no custody of funds and runs no search service.

How to search

1. 1

   Establish heirship first — the Erbschein

   Nothing else works without this. German banks will not release information or funds without proof of heirship, and every search route below requires it.

   • Apply for an Erbschein — the certificate of inheritance — at the probate court.
   • Where there is a notarised will or an inheritance contract admitted to probate, many banks accept that instead.
   • A valid transmortale Vollmacht — a power of attorney that survives death — may allow an authorised person to act without waiting for the Erbschein.
2. 2

   Run an estate account search with each banking association

   Germany's banking sector is split into three pillars, and each runs its own Kontennachforschung — an account investigation service for estates. There is no single query; you write to each.

   • Private banks — the Bundesverband deutscher Banken operates a Service Kontonachforschung.
   • Cooperative banks — the Volks- und Raiffeisenbanken run an equivalent through the BVR.
   • Savings banks — write to the Deutscher Sparkassen- und Giroverband, by email to nachforschung@dsgv.de.
   • Every request must include a copy of the Erbschein or the will.

   Searching only one pillar is the most common failure. A person who banked with a Sparkasse and a private bank will only show up if both associations are asked.

3. 3

   Use the Federal Notary Chamber's central account retrieval

   The Bundesnotarkammer operates a central account retrieval service — the Kontenabruf — which authorised parties, including heirs holding an Erbschein, can use to identify accounts the deceased held at German credit institutions.

   • Establish heirship, then submit a formal inquiry.
   • The inquiry is processed centrally and returns details of registered accounts.
   • Approach each institution identified with your proof of heirship.

   This is the closest thing Germany has to a national search — start here when the institution holding a dormant account cannot be identified at all.

4. 4

   For insurance, write to the insurers directly

   Matured but unclaimed life insurance stays with the insurer, exactly as dormant accounts stay with the bank. There is no central insurance register either.

   • Check the deceased's papers, standing orders and bank statements for premium payments.
   • Write to each insurer identified, with the death certificate and proof of heirship.
   • Check employer group policies, which families frequently do not know about.

Asset types held

Documents you'll typically need

• Photo ID
• Certificate of inheritance (Erbschein), or a notarised will admitted to probate
• Death certificate
• A transmortale Vollmacht where one exists, which can avoid the wait for an Erbschein
• Any account references — old statements, standing orders, correspondence