The North Carolina Department of State Treasurer is holding on to more than $919 million in unclaimed money, and a quick website search can connect people with their missing bucks.
The unclaimed property comes from sources such as old bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and safe deposit boxes that have been abandoned for one to five years. The funds are considered “unclaimed” when the company loses track of the customer and can’t find them to provide the money, according to the state department. Often it’s because a person moved and didn’t leave a forwarding address, but can also be due to other missing or incorrect contact information.
The law requires companies to turn the money over to the state for safekeeping until it’s claimed, but many people don’t know that they’re missing money in the first place, or how to go about claiming it.
The North Carolina Department of State Treasurer recently launched a new program, N.C. Cash Match, to try and spread the word to more residents and reunite them with their long-lost funds.
The more streamlined process, which is also free to the customer, can identify any funds the state has held in safekeeping for a person. After submitting a request online, the Unclaimed Property Division will research records and identify qualifying claims of $250 or less. Customers who find and claim their missing money can receive a check in the mail for the amount they’re owed.
The state has returned more than $37 million in unclaimed property from July 2020 to January 2021, according to the department.
To search for missing cash, go to https://www.nccash.com and follow the instructions.