The majority of Americans are not aware that there are billions of dollars in unclaimed money tied up in state and federal institutions throughout the country. In fact, it is believed that 90 percent of adult Americans are owed money that they fail to claim year after year. This money comes from bank accounts and safety deposit boxes that have been left behind; stocks, mutual funds, bonds, and dividends that have not been collected;checks and wages that have not been cashed; and insurance policies, utility deposits, and trust funds that remain unclaimed. When this money is not distributed to the rightful party, it is transferred to government organizations.
You might be unaware of your unclaimed money because of a change in address or name, or you might simply have forgotten you have it coming to you. You can avoid accumulating more unclaimed money by keeping strict records of all of your financial accounts and stock certificates. You also need to inform all pertinent financial institutions when you move.
How to Receive Unclaimed Money
There are a number of websites that give you access to the various organizations that hold onto unclaimed money. Usually, you will simply have to enter in some basic information about yourself to see if you have any unclaimed money owed to you by a specific organization. However, the search can be exhaustive, because most sites are not comprehensive.
You need to be aware that there are several groups offering help with unclaimed funds that are not legitimate. They will take your information and your payment and leave you without all of the data you need to get your unclaimed money. In most cases, you will not have any way to contact these companies.