Cash Unclaimed Media Room

The volume of unclaimed money continues to rise. This has become a major concern for the state and federal agencies. While every state is reporting huge additions to its unclaimed money vault every month, some of the larger states have reported unbelievable figures of unclaimed money. While California is reporting unclaimed money to the tune of $5.7 Billion, New York’s pile of unclaimed money has swelled up to $9.9 billion.

Apart from the state treasuries, some of the largest banks have also been reporting big numbers of unclaimed bank balances. In a recent Press Release, about half a million dollars in unclaimed money from former Washington Mutual Bank in Wisconsin is waiting to be claimed.

There are a lot of celebrities who have unclaimed funds, like 90% of common U.S. residents. According to Inside Edition, some of the wealthiest celebrities have unclaimed funds waiting for them: George Clooney ($180 from Warner Brothers), Jennifer Aniston (a $100 Tiffany store credit), Goldie Hawn ($300, which long time love Kurt Russell says will be given to charity) and comedian Dana Carvey ($800). Even the show’s anchor, Deborah Norville, was told she has an unclaimed outstanding sum from 1997 in an account. Carvey tells Inside Edition he’s just going to leave the money where it is. “I don’t want to put it in the stock market because everything I put in there goes ‘whoop’”

The lost money pile in the State of California is growing at a rapid pace and currently ranks highest in terms of unclaimed funds value. In order to mitigate this problem and reduce the deficit, officials in the State treasury are sending more than 9,000 memos every week so that the owners of these funds can take the necessary steps to claim their money.

In spite of the various steps taken to reduce this unclaimed funds pile, the unclaimed checks from various state agencies continue to add to this unaccounted money pool. Like other states, California is also taking various measures utilizing different media to reduce this deficit, but not with a lot of success.

Michigan State Treasury houses billions in missing money. The Michigan Department of Treasury has reported this missing money is generally comprised of dormant bank accounts, uncashed checks, valuables left in safe deposit boxes and stock certificates.

By law, these funds and assets are handed over to the state treasury once the owner fails to claim them. The Michigan Department of Treasury acts as the custodian of these funds and assets and returns them to their owners (or the owners’ heirs) when they are rightfully claimed.

Unclaimed Treasury Money is still lying with the U.S. treasury in the absence of any rightful owners claiming these lost monies. While millions of U.S. residents (around 28 million) are still relying on food stamps to survive, the rightful owners of this treasury money are still elusive.

The combined value of unclaimed money in the 50 states is over $30 billion and this is being held in the various State Treasury Department. States like New York and California have the largest volumes of unclaimed money.

Owners of lost money are being instensely searched for by the U.S. treasury. Currently, the U.S. treasury is home to billions of dollars in unclaimed bonds, treasury bills, notes, war bonds and accrued interests. Online promotion campaigns, digital awareness program, print media campaigns to radio campaigns – Every possible advertising mechanism, has been put in place by the State treasury to reunite the owners of the lost money with their unclaimed cash and interests.

State departments of unclaimed money across the U.S. is storing more than $40 billion in unclaimed cash and property. This roughly translates to more than 30 million Americans who have missing money lying somewhere in their state treasuries. While billions are added to this pool of unclaimed money every year, many of the U.S. residents are still unaware of the process of recovery.

The bigger states, like California, Texas and New York, are getting richer every year because of the growing volume of unclaimed money. These state-held unclaimed funds are in the form of abandoned bank accounts, unclaimed savings and checking accounts, child support payments, uncashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies, uncashed death benefit checks, and the contents of safety deposit boxes.

Billions of dollars in missing money is housed in the state treasury of Wisconsin, according to the State treasurer of Wisconsin. This property is comprised of unclaimed savings and checking accounts, child support payments, uncashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies, uncashed death benefit checks, and the contents of safety deposit boxes. One reliable place to search for unclaimed property in Wisconsin is at Wisconsin Unclaimed Property Online Search.

The state of New York is home to one of the largest unclaimed money pools in the country. The New York state treasury is taking all the measures to relocate the rightful owners of the unclaimed money. At current count, the state of New York currently holds nearly $10 billion in unclaimed funds. Most of these unclaimed funds come from come from 25 million inactive bank, business, and government accounts unclaimed by their owners and are currently in the care of the state controller’s office.

Increasing unclaimed funds is a logistic nightmare for the government. The government is taking all the measures to return these unclaimed funds to their rightful owners. The initiatives are being taken on both the center and state levels. Most of the states have already adopted an unclaimed funds website.

These websites have reliable and relevant information regarding the search and claim process of unclaimed funds. All of these websites have online claim forms which can be submitted with the click of a button.