First-time poster. :O)
In 2002 I opened and funded an online-only account with NetBank; the terms of the promotion required funds remain untouched for an extended period. Once the account was funded and verifiably functional I left it alone (big mistake), since there wasn't anything I could do with the funds anyway, and what could be safer than money in a bank, right?
NetBank failed in 2007, and all funds were transferred to ING Bank by the FDIC. By this time I no longer had access to the email account I had when I started the NetBank account, and so I didn't know the account number, and ING could not find my account using my social security number, but they said perhaps the information hadn't been properly transmitted. (Then a few years passed, as some major life-stuff (illness, death, etc) took precedence.)
I've since found the account number, and have a 1099 form from 2007 (generated just a few months before the bank's closing), but the FDIC tells me there's no record of my account as of Sep 2007, when the bank was closed. The info on the 1099 is all correct, my address and SSN were in the system, so where did the account go? (I've read about dormant account procedures, and it hadn't been long enough, nor was anything mailed to me in an effort to contact me.)
I'm offered research by the FDIC (for an hourly fee), but need to know what resources are available to me, so I know what I'm looking for. I can't really afford this research fee, so I'd like to make the search as focused (and brief) as possible.
I've searched and searched to see if part of NetBank's failure had anything to do with fraud, but haven't found anything that would confirm that. How can an account just disappear?
I wonder whether, as things were becoming more difficult, the bank appropriated "abandoned" funds trying for some quick cash. I would think that there's is a strict oversight which would make this sort of action impossible, yet the account has disappeared, so I don't know what to think.
Any advice, resources, knowledgeable theories would be greatly appreciated. Thanks!
Edit, 24 Jan 2016: The funds have been recovered! I'm adding to this post in case anyone else should find themselves in similar circumstances.