Statistics show that as many as 9 out of 10 Americans may have unclaimed money waiting to be discovered!
It’s estimated that almost $40 billion dollars in unclaimed cash or abandoned accounts exist in the United States today.
An account is considered abandoned if;
- it has had no activity or contact by the owner in over a year
- or there have been no transactions for a year or longer.
Banks, and other financial organizations are required to turn the monies in these accounts over to the State, until the rightful owner is found. Most States don’t have the staff to search out beneficiaries or owners of these accounts. However, each State maintains websites listing these unclaimed assets.
So, what types of cash or accounts may be waiting for you?
- Unclaimed life insurance benefits
- Abandoned bank accounts or safe deposit boxes
- Unclaimed 401(k), pensions, CDs, or Mutual Funds
- Dividend checks
- Government refunds
- Utility or rental/ security deposits
- Utility over-payments
- Inheritance or trust distributions
The good news is there is an easy way to locate this unclaimed cash!
Most of the information can be found online and is free. Start by checking out the following link: missingmoney.com>> The site is a national data base where you can find missing money, property or other assets.
For state specific searches go to: unclaimed.org>> and simply select the state you want to search.
It is important to check the various states you have resided in. Also be sure and check any alias’ or maiden names you have used.
These websites simply ask for your name and state of residence. They DO NOT ask for your social security number until you actually locate a property or account that you are entitled to claim.
It only takes a few minutes and could be worth your while!
There are services that will complete a search for you. Keep in mind that if you choose to use a service, they may charge 10% -20% of the value of the asset found.
A word of caution: never pay a finder’s fee up front, as it could be a scam. If you choose to pay a service, be sure your assets are claimed, then pay the agreed upon fee.
We decided to check it out for ourselves. After only a few minutes on our state’s website we found an unclaimed check mailed to an old address. We also found monies left on an old Illinois tollway pass.
So, for a few minutes of our time, we were able to find monies just sitting there waiting for us to claim! What will you find?
For additional resources Click Here>>