Whoa! Is There Unclaimed Money Waiting for You?

Unclaimed Money May Be Waiting For You To Find It

(UnitedReader.com) – Even though the world has gone through the worst of the pandemic, countries, especially those brutally hit, are not out of the woods yet. The post-COVID-19 era presents an economic meltdown like never witnessed before.

As such, most Americans are consolidating the little funds they have while working towards getting more. A common yet overlooked way of obtaining buffer cash during this challenging period is through unclaimed money.

According to the National Association of Unclaimed Property Administrators (NAUPA), one in every ten Americans has unclaimed assets idling around somewhere in state agencies. This post explains the types of unclaimed money available and how to locate and claim them within the shortest time possible.

Types of Unclaimed Money 

Unclaimed money doesn’t just appear randomly in people’s pockets; neither is it freely given to them. This type of cash comes from a premeditated source that is forgotten over time and deposited within the state’s coffers but remains legally yours. They include:

  • Insurance Payments
  • Utility Security Deposits
  • Trust Distributions
  • Annuities
  • Checking Accounts
  • Savings Accounts
  • Insurance Refunds
  • Refunds
  • Stocks
  • Customer Overpayments
  • Traveler’s Checks
  • Uncashed Dividends
  • Certificates of Deposit
  • Unpaid Wages
  • Safety Deposit Boxes Contents

How to Find and Claim Lost Money 

Every dollar counts at such times, and a lost paycheck or insurance payment could help significantly. That said, the process of finding lost money isn’t as far out of reach as many might assume, with multiple credible websites available today to help, including:

The State Website

  • Visit NAUPA’s official website, Unclaimed.org.
  • Find the link to your state’s unclaimed asset program (all vetted as credible sites)
  • Click on the link to be redirected to your state website
  • Enter both the middle and maiden name on the search
  • Try different search combinations if nothing pops up, such as first and last name
  • Use MissingMoney.com to search other states you’ve worked or resided at once

Other credible databases worth searching include the Internal Revenue Service (IRS) website (for tax refunds), Pension Benefit Guaranty Corporation (for unclaimed pension), and National Treasury (for unclaimed Treasury bonds and notes).

Claiming Lost Money

The process of claiming lost money varies from one state to another. However, it is straightforward in most cases, provided one has a driving license or identification card (passport) and proof of ownership, such as a Social Security number or pay stub. Most states take less than 30 days to process unclaimed money applications.

How to Prevent Money from Being Unclaimed in the Future

Finding out that you have money waiting for you can be such a boost when facing tough times. Even so, finding and claiming forgotten cash isn’t always as straightforward as it may seem, with many hurdles along the way. The best way is to never put yourself in such a situation by:

  • Keep Accounts Alive: Maintain transactional activity, whether withdrawals or deposits, on all checking and saving accounts and certificates of deposit in your name. This way, accounts won’t become inactive for too long, leading to funds being unclaimed.
  • Stay Updated: Ensure any changes in name or address reflect on past and current work relationships. Notify all employees of these changes, and don’t forget about your financial institution.
  • Maintain Records: Even though financial institutions have records of all customer transactions, they keep personal records of all money, checks, or asset transactions that occurred in the past and present to prevent loss of money.

Find Your Unclaimed Money Now!

Don’t waste any more time wondering if there’s money somewhere there waiting for you. If the funds are legally yours, no one can stop you from obtaining them. Use your state website to find unclaimed money or any other helpful websites, such as IRS and Treasury. Reach out to your state if you have any questions or problems claiming money.

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