Millions of Americans Have Money Waiting for Them — And Many Don't Know It

This article is brought to you by Fresh Start Health

If someone told you there might be money sitting in your name waiting to be claimed, would you believe them?

Many people wouldn't.

In fact, one of the most common reactions when people hear about MissingMoney.com is, "That sounds like a scam."

But despite the skepticism, the website is very real, very legitimate, and has helped return billions of dollars to rightful owners across the United States. The site is operated in partnership with the National Association of Unclaimed Property Administrators (NAUPA), an organization representing state unclaimed property programs throughout the country.

I recently checked the website myself and discovered I had unclaimed funds waiting. My mother did as well. My brother has in the past as well.

We can't be the only ones.

According to MissingMoney.com and NAUPA, approximately 1 in 7 Americans has unclaimed property, and more than $3 billion was paid out to claimants during the past year alone. The website reports that 95% of claims are now filed online.

Unclaimed property isn't buried treasure or forgotten inheritances from distant relatives—although sometimes it can be.

More often, it consists of everyday financial assets that became separated from their owners. Examples include:

When a business or financial institution loses contact with an owner for a certain period of time, state law generally requires those assets to be turned over to the state's unclaimed property division for safekeeping. The money doesn't become the state's property—it is simply held until the rightful owner comes forward.

Life happens.

People move. They change jobs. Banks merge. Businesses close. Names change after marriage. Addresses become outdated.

A refund check mailed to an old address may never arrive. A final paycheck may be forgotten. An insurance company may lose contact with a beneficiary.

Over time, those funds are transferred to state unclaimed property programs, where they remain until claimed.

The process is remarkably simple.

Visit:

MissingMoney.com

Enter your first and last name and search.

You may also want to search:

Because unclaimed property is often reported to the state where the company is located, people who have lived in multiple states should search those states as well.

If a match appears, the website will provide instructions for filing a claim.

In many cases, the process can be completed entirely online in less than five minutes. Claimants may be asked to provide documentation such as:

According to MissingMoney.com, 95% of claims are filed online.

Yes.

This is perhaps the biggest misconception surrounding unclaimed property.

There is no fee to search for your property and no fee to file a claim through official state programs or MissingMoney.com. If a website asks for payment simply to search for your name, proceed with caution. Official state programs provide these searches free of charge.

Most claims are relatively small, but some are substantial. Across the country, state agencies return billions of dollars every year to individuals, businesses, charities, and estates. In some cases, claimants have discovered hundreds, thousands, or even tens of thousands of dollars they never knew existed.

The odds are better than many people realize.

After all, if 1 in 7 Americans have unclaimed property waiting to be claimed, there's a decent chance that you—or someone in your family—might be one of them.

The Bottom Line: It takes only a few minutes to search. As I discovered today, and as my mother discovered as well, you may find money you never knew you had.

And for once, that suspicious-looking website on the internet turns out to be completely legitimate.

This article was brought to you by Fresh Start Health