Unexpected money might be on the way to you right now.
Yes, you read that correctly.
If you have unclaimed money from an uncashed check, and old bank account, or money that was considered abandoned in New York State, checks are being issued now. And you don't have to do anything to claim it.
If the amount owed is under $250, a new New York state law allows the comptroller's office to release the money directly.
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"For any claim of an unclaimed fund of $250 or less, we will do a verification on the rightful ownership. And we will, instead of just notifying you that we have money, we’ll actually send you the check," says NYS Comptroller Thomas DiNapoli.
In the past, people had to go to the state's website for unclaimed funds and file claims regardless of the amount. Now, that is only necessary if the amount is over $250.
According to records, the state is holding onto nearly $19 billion in "lost money" through November (check a regional breakdown here). That covers more than 11 million accounts. Daily, New York returns $1.5 million to people who file claims, according to the comptroller's office, and more than a half-billion was returned last year alone, data shows.
State Comptroller Thomas DiNapoli says most of the money being held is owed to people who are deceased.
"If you are a rightful heir, you know, let’s say a parent or grandparent passed away, you can claim that money as well. We need more documentation," he added. "Those monies have to be turned over to the state."
Also, old gift cards that are registered and get lost or stolen, those monies are turned over the state as well.
Checks will be in the mail this month.
Am I owed unclaimed funds?
Does any unclaimed cash belong to you? Check here. All you need to do is put in your last name (or a few more details if that yields too many results). Try misspelling your name, just to be sure, if nothing comes up in an initial search.
It's also worth searching names of your relatives, especially those who have passed away. The accounts go back to the 1940s, and officials say you could be entitled to those funds.
New Jersey and Connecticut also have offices that handle unclaimed funds. The monies are usually checks sent to the wrong address that never got cashed. Most of them are in amounts of $50 or $100, but you never know.
