France's Eckert Law allows banks to close inactive Livret A accounts

Under the Eckert Law, French banks are authorized to close inactive savings accounts, such as the Livret A, and transfer the funds to the Caisse des dépôts. A savings account is classified as inactive after five years of no transactions initiated by the holder and no contact with the banking institution.

While interest continues to accrue on these accounts, the lack of activity can lead to the permanent loss of funds if the owner does not intervene. The law aims to prevent billions of euros from remaining dormant indefinitely while providing a framework for heirs or owners to eventually reclaim the money.