Life Hacks

How to reclaim your money from old bank account to use in ‘Njanuary’ 2026

Lutta Njomo 05th January, 2026 03:00 PM

With many individuals establishing their financial goals for 2026, whether through investments or savings, reclaiming funds that are sitting idle in dormant bank accounts can significantly help in achieving these objectives.

In Kenya, most bank accounts are considered dormant if the owner fails to transact for more than five years, forcing them to surrender the money to the Unclaimed Financial Assets Authority (UFAA).

The recent data shows that UFAA holds over Ksh65 billion in unclaimed assets belonging to Kenyans. While many Kenyans express concerns about their financial difficulties, the agency under the National Treasury reports challenges in reuniting these assets with their rightful owners.

Kenyans are indeed willing to reclaim their money; however, this struggle primarily stems from a lack of awareness among the population.

Money in a briefcase. Image used for representational purposes only in this article. PHOTO/Pexels

Becoming an unclaimed asset

The process is regulated by the Unclaimed Financial Assets Act. This legislation mandates that financial institutions, companies, schools, and other holders of assets must transfer abandoned assets to the Unclaimed Financial Assets Authority (UFAA).

An asset is then considered abandoned when the holder, which includes banks, schools, or other institutions, cannot contact the owner, or, in this case, when the account holder fails to transact with a financial institution for over five years.

A person using a ticket machine. Image used for illustration purposes only. PHOTO/Pexels

How to claim

Step 1:

The first step involves searching and verifying if, indeed, you left money in that old bank account

Dial *361# or visit their physical offices at Pacis Centre, 2nd Floor, Slip Road, off Waiyaki Way, Westlands, Nairobi.

Alternatively, one can visit any Huduma Centre or send an email to [email protected]

Step: 2

After confirming that you have the money lying idle, you are required to have specific documents, which include

1. Completed UFAA claim form (download from their website)

2. A copy of your national ID or passport

3. Your KRA PIN certificate

4. Proof of remittance from the previous holder (e.g., bank statement, employer letter, dividend statement)

5. Payment details where the funds should be deposited

6. Indemnity agreement form (provided by UFAA)

7. An affidavit if your name differs across documents

Step 3:

Once all the documents are ready, one is required to lodge a claim through the eCitizen Portal, Huduma Centre or physically take them to Pacis Centre, 2nd Floor, Slip Road, off Waiyaki Way, Westlands, Nairobi.

UFAA will then take close to 30 days before releasing the funds, then you can use them to pay out bills or reinvest.