State Treasurer Curtis Loftis and WSPA News 7 came together to help you find your lost money.
During the recent “Claim Your Cash for Christmas” phone bank held on Monday, Sept. 10th, hundreds of residents found over $441,000 waiting for them at the State Treasurer’s Office.
“We can all use a little extra money, especially around the holidays,” said Treasurer Loftis. “We appreciate WSPA partnering with us to play Santa for an afternoon and help us give South Carolinians in the Upstate back their lost funds.”
If you missed the live phone bank, you can search for unclaimed property on the State Treasurer’s website by clicking here.
If you’ve lived in another state, you may also want to check MissingMoney.com for a list
of property held in over 39 states. The State Treasurer’s Office currently has over $550 million in unclaimed property and over $117 million of this belongs to individuals in the Upstate.
Below are some common questions and answers regarding the Unclaimed Property Program at the State Treasurer’s Office:
How do I find out if I have unclaimed property?
Go to the official website: www.treasurer.sc.gov and click to search for unclaimed property.
What is unclaimed property?
In South Carolina, unclaimed property consists of money or securities that an owner has forgotten about, lost, or never even knew existed, that remains in the possession of a business for a period of time, usually five years.
These funds become unclaimed because the company loses track of the customer, due to an incorrect address or other missing information. Some examples of unclaimed property include dormant bank accounts, uncashed checks (including paychecks), unclaimed insurance proceeds, forgot
ten utility deposits, uncashed dividend checks, and unchanged shares of stock.
How does unclaimed property end up at the State Treasurer’s Office?
If a company cannot locate the owner of funds after a certain period of time (usually five years), the company cannot keep the money. Acting in the best interest of consumers, every state has a law that requires unclaimed funds to be sent to the State’s Unclaimed Property Program who holds the funds until the rightful owner can be found.
How long does the State hold money?
There is no time limit. The rightful owner always has the right to claim the funds.
What if the original owner is deceased?
The Personal Representative for the estate can make a claim on the property by providing a copy of the death certificate, a currently dated Certificate of Appointment from the Probate Court, as well as proof of ownership of the property.
Is there any charge or fee for this program?
No. There is no fee for this service whether or not property is found under your name. If you are contacted by an individual or firm offering to return property to you for a fee, contact the South Carolina Unclaimed Property Program Offices BEFORE YOU SIGN AN AGREEMENT.
How much money is the State holding?
Over $550 million dollars.
How much money was returned to its rightful owners last year by the Treasurer’s Office?
Last fiscal year, more than $36 million was returned.
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