Originally Posted by
Jaimito Cartero
Yawn.
If you have $500 in the bank, and had forgotten about the account, would it be okay for the bank to just take it? Fold it into its profit margin?
Unless you're a sleazeball company, why not just give them two years, and send out notices and such? Sure, many people are going to ignore it. At least you've done the right thing.
pbarnette already provided a response regarding the principles of escheatment. I would like to add that financial institutions in most states are not responsible for warning/notification prior to escheatment, as the assets belong to the account holder, who holds responsibility for their management.
Even if this analogy was applied in this situation, it ignores the fact miles are not your (as the participant in the program) asset.