1 in 7 Americans Have Unclaimed Money or Financial Assets—Here’s How to Redeem It

Published on February 3, 2024

Billions of dollars worth of unclaimed funds are being held by state departments across the United States which can be rightfully collected by their legal owners through a simple online process. Feb. 1 was Unclaimed Property Day. Unclaimed property refers to “accounts within financial institutions or companies in which there has been no activity generated (or contact with the owner) regarding the property for one year or a longer period,” according to the National Association of Unclaimed Property Administrators (NAUPA). By law, such properties are turned over to the state. For instance, an individual may have rented a property in Texas by putting up a security deposit. If the person moves to New York and fails to collect back the deposit after a set dormancy period, the money becomes an unclaimed property and goes to the state....

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