One of the most common types of research carried out for investigations, and asset searches is a bank account search. Within the investigative community, it’s been observed that private investigators are seeking to learn how to conduct a bank account search and where to order one, as it is not common knowledge. A bank account record search is crucial because if you have a judgment against a party, are in probate, or have a claim against someone for fraud; it’s important to know where their assets are, especially their bank accounts.
A bank account is the most liquid type of asset, and it doesn’t need to be sold off like a house or a car that needs to be repossessed. You have to go through the process of selling or auctioning off other intangible assets to get your money back. A bank account is essentially cash, and with the proper procedure, you can retrieve the cash directly from their bank account.
The first step to retrieving a bank account is finding it. Running a search for bank asset records is crucial, and several methods exist, such as the swift code method, account vetting system, and OSINT system. It’s recommended to choose the best method or run all of them to increase the chances of finding hidden assets and bank accounts. Once you find the bank account and have a legal claim or judgment against the person, you can attach the bank records and get your money back. However, it’s essential to note that this is not legal advice, and you must ensure you have a proper judgment or claim.
Having the bank account’s identity, account number, routing number, and balance are crucial as it helps you know how much to seize. Seizing an amount greater than the balance will result in rejection. For instance, if someone owes you $50,000, but there’s only $20,000 in the account, garnishing $50,000 will be rejected. In this case, garnishing $18,000 will at least recover some of your money. Thus, understanding the process of running a bank account search and garnishing the funds is crucial in recovering your losses or judgment.
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