Can someone point me in the right direction?

We have an account we chose to close. Notification was mailed out advising the customer of the Banks decision and listed the effective date. However, the mail was returned and no forwarding address was provided. I cannot locate any regulation advising how the Bank needs to proceed. Obviously we are not going to mail out the check when the account is closed as we know the address is no longer valid. Do we just hold the funds and process as Unclaimed Property (NY)? If there is no specific regulation, can you advise on how your Bank handles this situation?

We mail out the account closure letter and the check for any funds remaining in their account on the same date. If the letter and check were to be returned, we'd hold the funds and then process as unclaimed.

same as ComplyCycle...

Thank you both. Sorry for the delay in responding.