Finding Unclaimed Money Belonging To You

Quick answer

• Unclaimed money is lost property, like forgotten bank accounts or uncashed checks, that has been turned over to the state.
• You can search for it through state unclaimed property websites, often managed by the state treasurer or comptroller.
• The National Association of Unclaimed Property Administrators (NAUPA) offers a directory of state websites.
• Be wary of scams; legitimate searches are usually free, and government agencies won’t ask for upfront fees.
• Keep a record of your searches and any claims filed.
• If you find money, you’ll need to provide proof of identity and your connection to the property.

Who this is for

• Individuals who suspect they may have forgotten accounts or property due to address changes or life events.
• Heirs or beneficiaries who may be entitled to unclaimed funds from a deceased relative.
• Anyone looking to recover lost assets that rightfully belong to them.

What to check first (before you act)

Goal and timeline

Before diving into searches, clarify what you hope to achieve. Are you looking for a specific amount, or are you simply curious about any potential lost funds? Understanding your objective will help focus your efforts. For instance, if you know you moved frequently, you might prioritize states where you lived for longer periods.

Current cash flow

While finding unclaimed money is a great way to potentially boost your finances, it’s not a substitute for regular budgeting and income management. Ensure your immediate financial needs are met through your regular income and savings before relying on the discovery of unclaimed funds.

Emergency fund or safety buffer

Having an emergency fund is crucial. If you find unclaimed money, it could be a welcome addition to your savings. However, the search process can sometimes take time, and there’s no guarantee you’ll find anything. Rely on your existing emergency fund for unexpected expenses.

Debt and interest rates

If you have high-interest debt, consider whether using any discovered unclaimed funds to pay down that debt would be a more financially sound decision than simply adding it to your savings. High-interest debt can erode your wealth quickly.

Credit impact

The process of searching for and claiming unclaimed money typically has no impact on your credit score. Credit bureaus are not involved in this process. However, if you find money owed to you and decide to use it to pay off debts, that action could positively impact your credit over time.

Step-by-step (simple workflow)

Step 1: Understand what unclaimed money is

• What to do: Learn that unclaimed property includes forgotten bank accounts, uncashed checks, security deposits, insurance payouts, and more, usually turned over to the state after a period of inactivity.
• What “good” looks like: You have a clear understanding that this is legitimate property that belongs to someone and is held by the state for safekeeping.
• A common mistake and how to avoid it: Believing it’s a scam or a government giveaway. Avoid this by starting your search on official government websites.

Step 2: Identify potential states

• What to do: Think about all the states where you have lived, worked, or conducted financial transactions.
• What “good” looks like: You have a list of states to check, especially those where you might have had bank accounts, utility deposits, or received payments.
• A common mistake and how to avoid it: Only checking your current state of residence. Avoid this by remembering past addresses and any states where you had financial ties.

Step 3: Visit state unclaimed property websites

• What to do: Go to the official website for unclaimed property in each state you identified. These are often managed by the state treasurer, comptroller, or department of revenue.
• What “good” looks like: You are on a legitimate government website, not a third-party site that charges a fee for searching.
• A common mistake and how to avoid it: Using a search engine and clicking on the first result, which might be a paid service. Always verify the website is a government domain (.gov).

Step 4: Conduct your search

• What to do: Use the search function on each state’s website. Typically, you can search by your name, and sometimes by the name of a deceased relative if you are searching on their behalf.
• What “good” looks like: You receive a list of potential matches, or confirmation that no matches were found for your name.
• A common mistake and how to avoid it: Using only your exact legal name. Try variations, including middle initials, nicknames, or maiden names, if applicable.

Step 5: Review potential matches

• What to do: Carefully examine any matches found. Look at the property type, the amount, and the last known address or business associated with it.
• What “good” looks like: You have identified a specific property that you believe belongs to you or your family.
• A common mistake and how to avoid it: Assuming every match is yours without verification. Some names are common, and details might not align perfectly.

Step 6: Initiate the claim process

• What to do: Follow the instructions on the state’s website to file a claim. This usually involves filling out a claim form.
• What “good” looks like: You have successfully submitted all required information and documentation for your claim.
• A common mistake and how to avoid it: Not reading the instructions carefully or missing required documents. This can delay or derail your claim.

Step 7: Provide proof of identity and ownership

• What to do: Be prepared to submit documentation proving your identity (e.g., driver’s license, passport) and your connection to the property (e.g., old bank statements, proof of relationship for inherited property).
• What “good” looks like: You have provided clear, verifiable documents that satisfy the state’s requirements.
• A common mistake and how to avoid it: Submitting illegible copies or documents that don’t directly prove your claim. Ensure all copies are clear and relevant.

Step 8: Wait for processing and verification

• What to do: The state will review your claim and documentation. This can take weeks or months.
• What “good” looks like: You have received confirmation that your claim is being processed and you understand the expected timeframe.
• A common mistake and how to avoid it: Constantly contacting the agency for updates. Patience is key, and excessive inquiries may not speed up the process.

Step 9: Receive your funds

• What to do: Once your claim is approved, the state will disburse the funds to you, usually via check or direct deposit.
• What “good” looks like: You have received the unclaimed money into your possession.
• A common mistake and how to avoid it: Not having a reliable mailing address or bank account for receiving the funds. Ensure your contact information is up-to-date.

Step 10: Record and manage the funds

• What to do: Keep a record of the funds received and decide how you will use them, whether for savings, debt repayment, or other financial goals.
• What “good” looks like: The money is integrated into your personal financial plan.
• A common mistake and how to avoid it: Immediately spending the money without considering its impact on your financial goals. Treat it as a windfall to be managed wisely.

Common mistakes (and what happens if you ignore them)

Mistake	What it causes	Fix
Using third-party websites that charge fees	You pay for information you can get for free; lost money is reduced.	Always start your search on official state (.gov) unclaimed property websites.
Not searching all relevant states	You miss out on money that belongs to you simply because it’s held in a different state.	Make a list of all states you’ve lived in and search each one.
Relying solely on your current name and address	You might overlook properties associated with a previous name or address.	Search using variations of your name (maiden, middle initial) and remember past residences.
Not verifying details before claiming	You waste time and effort on a claim that won’t be approved due to mismatched information.	Carefully compare the property details with your personal records before filing.
Submitting incomplete or incorrect documentation	Your claim will be delayed or rejected, potentially causing you to miss the property.	Read claim instructions carefully and provide all required documents accurately.
Falling for “finder” scams	You pay a percentage of the found money to someone who did nothing, or worse, you provide personal information to a fraudster.	Legitimate searches are free. Government agencies will not ask for upfront fees to find your money.
Waiting too long to claim	While there’s often no strict deadline, prolonged delays can lead to lost paperwork or forgotten claims.	File your claim as soon as you identify a valid match.
Not searching for deceased relatives	You miss out on potential inheritances that rightfully belong to you or your family.	Search for relatives on state unclaimed property databases, especially if they moved frequently or had forgotten accounts.
Assuming common names mean no match	You might overlook your property because you think your name is too common.	Even with common names, other details like amounts or last known locations can help confirm a match.
Not understanding the process	Confusion and frustration can lead to giving up prematurely.	Familiarize yourself with the typical process for claiming unclaimed property.

Decision rules (simple if/then)

• If you have lived in multiple states, then search each state’s unclaimed property website because money can be held in any state where you had financial activity.
• If you find a match on a state website, then review all details carefully because common names can lead to false positives.
• If you have a common name, then try searching with middle initials or variations of your name because this can help differentiate you from others.
• If you are claiming property for a deceased relative, then be prepared to provide proof of your relationship to them because states require this to ensure rightful inheritance.
• If a website asks for a fee to find unclaimed money, then do not proceed because legitimate searches are free; it’s likely a scam.
• If you are unsure about a match, then err on the side of caution and gather more information before filing a claim because a false claim can be a waste of time.
• If you have high-interest debt, then consider using any found unclaimed money to pay it down because this can save you money on interest payments.
• If you receive a check for unclaimed money, then deposit it promptly because some checks may have expiration dates.
• If you have moved recently, then ensure your current address is updated with the state agency processing your claim because this is how you will receive your funds.
• If you are searching for a family member who has passed away, then search using their full name and any known previous addresses or employers because this increases the chances of a successful match.
• If you find a small amount of money, then still claim it because even small amounts add up, and it’s your rightful property.

FAQ

What is unclaimed money?

Unclaimed money refers to financial assets that have been turned over to the state because the rightful owner could not be located. This includes forgotten bank accounts, uncashed checks, security deposits, and more.

How much does it cost to search for unclaimed money?

Searching for unclaimed money on official state websites is always free. Be cautious of any site that charges a fee to search or claim.

Can I find unclaimed money belonging to someone else?

Yes, you can often search for unclaimed money belonging to deceased relatives. You will typically need to provide proof of your relationship to the deceased.

How long does it take to receive unclaimed money after filing a claim?

The processing time varies by state and the complexity of the claim, but it can range from a few weeks to several months.

What if I find a match but the details are slightly off?

Carefully review the information. If you believe it’s yours despite minor discrepancies, proceed with the claim but be prepared to provide extra documentation to prove your identity and connection to the property.

Are there any time limits to claim unclaimed money?

Generally, there are no strict time limits to claim your property from the state. However, it’s best to claim it as soon as possible.

What kind of documentation will I need to claim money?

You’ll usually need to provide proof of identity (like a driver’s license or passport) and proof of your connection to the property (such as old bank statements, account numbers, or proof of inheritance).

What if I suspect a scam?

If a service contacts you promising to find your unclaimed money for a fee, or if they ask for personal financial information upfront, it’s likely a scam. Always go directly to official state websites.

What this page does NOT cover (and where to go next)

• Specific legal definitions of property types in every state.
• Detailed guidance on claiming property from private entities that may not have turned it over to the state.
• How to navigate complex inheritance laws for unclaimed assets.

Where to go next:

• Research specific state laws regarding unclaimed property.
• Consult with an attorney if you are dealing with a large or complex estate.
• Explore resources on estate planning and probate.