State Treasurer Riley Moore today announced his Unclaimed Property Division returned nearly $5.3 million worth of funds to individuals, businesses and other organizations during the month of September – the highest monthly returns paid out by the program in its history.
“This is a truly remarkable achievement and an incredible economic boost to our state,” Treasurer Moore said. “With the recent launch of our West Virginia Cash Now program, combined with the tireless efforts of our staff, more people than ever before are being reconnected with their lost funds.
“I want to thank our state Legislature for passing the bill modernizing our Unclaimed Property laws and creating the Cash Now program, and also commend our Unclaimed Property staff for the tremendous work they do each day to ensure West Virginians are reunited with their money,” Treasurer Moore said.
The Unclaimed Property Division paid out 9,640 claims during September, totaling $5,282,973. The bulk of that consisted of the $4,244,379 worth of claims processed through the newly launched West Virginia Cash Now program, which automatically returns some types of properties to their rightful owners.
The remaining $1,038,594 paid out during the month was paid through the 1,437 claims processed by the traditional claims process through the Office.
The record monthly total from September follows the record $18.6 million in unclaimed property returned during the recent fiscal year that ended June 30 – the highest yearly total paid out by the program. Treasurer Moore said he and his Office are committed to returning more and more unclaimed property to its rightful owners.
“The record total of nearly $5.3 million paid out by our Office this past month is a remarkable achievement, but I hope it’s only the beginning,” Treasurer Moore said. “With inflation still eating into peoples’ wallets, we need to make sure West Virginia families have access to every dollar they are owed. That’s why we’re going to keep working hard to encourage folks to visit our website and check and see if we have any money in their name available to claim.”
Treasurer Moore said his Office has more than $300 million in unclaimed property listings for individuals, businesses and other organizations. He encourages everyone to visit www.wvtreasury.com today to search and see if they have funds to claim.
More information about the Cash Now program is available at www.wvcashnow.com.
What is Unclaimed Property?
Unclaimed property can include financial accounts or items of value in which the owner has not initiated any activity for one year or longer. Common examples include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. (While the title includes the word “property,” it does not however include real estate.)
West Virginia’s unclaimed property laws protect the public by ensuring money and property owed to them is returned to them, rather than remaining permanently with financial institutions, business associations, governments and other entities. The Treasurer seeks to reunite the unclaimed property, including uncashed paychecks, stocks, or safe deposit box contents, with its owner.
Nationwide, nearly 33 million people in the United States – one in every 10 – are estimated to have unclaimed property available for them to claim.
How Can I Find Unclaimed Property in My Name?
West Virginians searching for lost financial assets can go to www.wvtreasury.com, then click on the large Unclaimed Property “Search” button to the right of the page under the heading, “Are We Holding Your Money?” In addition to finding property, the www.wvtreasury.com website will also help you track a claim.
A demonstration of how to use the Unclaimed Property search site is available on the Treasury’s YouTube page, at: https://youtu.be/K09yQ7YNKlE.
To search for lost financial assets outside West Virginia, visit www.FindMyFunds.com or www.MissingMoney.com.