Thursday, March 30

Unclaimed money: how to know if you have funds in the US | Digital Trends Spanish

Did you know that in the United States there are about $50 billion dollars waiting for their owners? And it is that one in 10 people simply forgot to cash a check or never knew that she had an inheritance. If you have never reviewed, we tell you how to find out if you have unclaimed money in the US Who knows if you are a millionaire and you simply had not found out.

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what is unclaimed money

Unclaimed money consists of funds that belong to different citizens, but who never knew they had a payment in their name. They can correspond to money in bank accounts in disuse, reimbursements from companies, salaries from an employer, trusts, life insurance, but also to material goods, such as jewelry and other precious metals.

The payer is required to contact the owner, but if they are unable to do so after a certain “down time,” the money and/or property must be sent to each state’s Treasury Department, which must hold it until owner appears.

The period of inactivity varies depending on the state and money. They can be one year for wages, three years for dividends, and up to 15 years for traveler’s checks.

According to the National Association of Unclaimed Property Administrators (NAUPA), the states with the most uncollected money are New York ($17 billion), California ($10.2 billion), New Jersey ($4 billion), Pennsylvania ($3.8 billion million), Illinois ($3.5 billion), Ohio ($3 billion), Virginia ($2.5 billion), Florida, Texas, Maryland and Massachusetts (all $2 billion).

How to find out if you have unclaimed money

A man with a beard, sunglasses, and a flowered shirt smiles as bills fall from the sky.
One of the best alternatives to find out if you have unclaimed money is the site
unclaimed.orga NAUPA initiative that offers a series of 100 percent free online tools.

In addition to having information on the procedures that you must follow to carry out the process successfully, it gives you access to the search in the database of each of the states through an interactive map.

Another alternative is the MissingMoney platform -sponsored by NAUPA-, which allows you to search in several states simultaneously. This is an excellent option if you have moved to another state.

MissingMoney will show you the states where there are matches with your name and will provide you with the link to the official websites so that you can start the claim process.

Anyway, if you want to carry out the process on your own at the sites of each of the states. In most cases, you will only need to enter your name or Social Security number, although some will ask for more information. In any case, it is a 100 percent free procedure.

In addition, you can consult in these territories of the United States or banking entities that also keep money without collecting:

How to claim the money

Missouri's website to claim uncollected monies
Missouri’s website to claim uncollected monies.

Once you have found a match for the unclaimed property through your state, you will need to complete the process to claim your missing money.

Although the process is free and simple, you will need to provide some evidence to prove that you are the rightful owner or heir of the money you are claiming.

Typically, you’ll need a Social Security number and fill out forms for each state with contact information. Once it has been confirmed that everything is in order, you will receive your money in the mail after a few weeks.

How to avoid scams

There are some companies that offer services to carry out the process on your behalf in exchange for a commission. While not all of them are scams, remember that the process is quite simple and 100 percent free, so they aren’t really necessary.

Another important aspect is that you verify that you are making the claim on a government website, most of which have the .gov domain, like the ones we list in this note.

Also be wary of letters or emails telling you that you have uncollected money. Although the state Treasury departments are eager for you to claim your funds, it is you who must contact them to collect them.

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