All deposit account(s) at NextBank
have been closed as of February 7, 2002.
Because the FDIC was unable to arrange a
transfer of the deposits of NextBank to another financial institution, a
check for the insured portion of your account(s) will be mailed to you at the last address
shown on the books and records of the failed institution. A final statement will be sent
to you with the check, along with a letter explaining the payment process.
NOTE: These accounts do not include deposits
securing loans or the deposits of certain customers with liabilities to the institution.
You will be paid interest on your account(s)
only through the date the institution was closed. Principal and interest on insured
accounts, through February 7, 2002, are fully insured by the FDIC, up to the insurance
limit of $100,000. If you have an/any account(s) over the insured amount, you will need to
speak with an FDIC Claims Agent to review the status of your funds. Certain entitlements
and different types of accounts may be insured for more than the $100,000 limit.
If you have funds in an
account known as payable on death (POD) account, revocable trust or in
trust for (ITF) account, one of the forms listed below is required:
Declaration for Testamentary Deposit
(Single Grantor)-Word 44k (Word Help) Declaration for Testamentary Deposit
(Multiple Grantors)-Word 63k (Word Help)
If you have a written trust
document that supports one of your deposit accounts, your will need to
complete the form listed below:
Declaration for Trust-Word 69k (Word Help)
All accounts that exceed the $100,000 insurance
limit, and/or all accounts that appear to be related and exceed this limit, are reviewed
by the FDIC to determine their ownership and insurance coverage. If it appears that you
have potentially uninsured funds, an FDIC Claims Agent will contact you, by either
telephone or mail, regarding your account(s). After February 7, 2002, you may reach a Claims Agent
by calling 1-877-367-2719.
If it is determined that you do have uninsured
funds, the FDIC will generate and mail to you a Receiver Certificate. This certificate
entitles you to share proportionately in any funds recovered through the disposal of the
assets of NextBank. This means that you may eventually recover some of your
uninsured funds.
For additional information on
deposit insurance visit EDIE the FDIC's Electronic Deposit Insurance
Estimator.
EDIE
- FDIC's Electronic Deposit Insurance Estimator |