Is There Free Money Waiting for You? How to Check for Unclaimed Funds | brokeGIRLrich
It all started with a suspicious Instagram post: “Check if you’re owed unclaimed money.” Initially, it seemed like a scam, but being a diligent personal finance enthusiast, I decided to look into it. I visited MissingMoney.com and entered my name, expecting nothing to show up.
To my surprise, there was a claim for $1,000. I thought, “No way!”
Nonetheless, I completed the form, reasoning that it couldn’t hurt. About a month later, to my astonishment, a check for $1,000 from an old health insurance account arrived in my mailbox. It cleared my bank without any issues, and just like that, I found myself $1,000 richer with very little effort.
This topic hasn’t come up much, but I come from a very large family. My dad is the youngest of nine siblings, and I have over 80 first and second cousins. Since the database returned results with my last name, I went back to search again and messaged every cousin I found. Two responded and successfully claimed money as well: one collected nearly $200, while another—feeling a bit envious of the amounts we found—managed to claim $25.
What Is the Unclaimed Money Database?
Unclaimed money refers to funds that rightfully belong to you but were never received for various reasons, such as an old refund, an abandoned bank account, or an uncashed paycheck. When businesses or government entities cannot find the rightful owner, the funds are handed over to the state. Each state in the U.S. maintains a database of these funds, and platforms like MissingMoney.com and Unclaimed.org consolidate these resources to help people search for and reclaim their money.
What Types of Money Might Be Available to You?
Various sources can lead to unclaimed funds, including:
- Forgotten bank accounts: If you’ve opened a savings or checking account and lost track of it, it may have been closed due to inactivity, and the remaining balance turned over to the state.
- Uncashed paychecks: Employers remit unclaimed wages for checks that employees never cashed.
- Insurance refunds or benefits: Sometimes, health, life, or auto insurance companies owe funds to policyholders without their knowledge.
- Utility deposits: If you paid a deposit for rental property, electricity, or internet service that you didn’t get refunded, it could be listed in the database.
- Stocks, bonds, and dividends: Money from dividends or liquidated shares you once owned might be waiting for you.
How to Discover If You Have Unclaimed Money
Curious if you’re owed unclaimed funds? It’s a straightforward and free process. Here’s how to do it:
- Visit MissingMoney.com or Unclaimed.org. These are official resources backed by the government.
- Input your name and state. Check each state where you’ve lived for results.
- Follow the claims procedure. If you find a match, you’ll need to confirm your identity and provide necessary documentation.
- Wait for your check. Processing times differ by state, but you can generally expect to receive your funds within a few weeks to a few months.
Final Thoughts
Searching for unclaimed money may seem too good to be true, but it’s genuine. States hold billions of dollars in unclaimed funds, just waiting for rightful owners to collect them. So take a few minutes to search—you might just uncover an unexpected windfall.
