Is There Free Money Waiting for You? How to Check for Unclaimed Funds | brokeGIRLrich
It all began with a sketchy-looking Instagram post that caught my eye: “Check to see if you are owed any unclaimed money.” It seemed 100% like a scam, but good personal finance blogger that I am, I decided to investigate. I went to MissingMoney.com and entered my first and last name, fully expecting to find nothing.
Instead, there was a claim for $1,000. Psht. Yeah, right.
But I filled out the form anyway, figuring it couldn’t hurt. And sure enough, about a month later, a $1,000 check related to a really old health insurance account showed up in my mailbox. It cleared my bank with no issues. With minimal effort, I was $1,000 richer.
This hasn’t come up much here, but my extended family is massive. My dad is the youngest of nine. I have more than 80 first and second cousins. And since the database showed me every hit with my last name, I went back through it again and messaged every cousin I found with a match. Two of them went through the claims process and collected money, too. One received almost $200, and the other—who was a little salty after hearing how much the rest of us had found—claimed back $25.
What Is the Unclaimed Money Database?
Unclaimed money is money that belongs to you but was never received due to a variety of reasons, like an old refund, an abandoned bank account, or an uncashed paycheck. When businesses or government agencies can’t locate the rightful owner, the money gets turned over to the state. Each U.S. state keeps a database of these funds, and websites like MissingMoney.com and Unclaimed.org serve as centralized resources to help people search for and claim their money.
What Kind of Money Might Be Waiting for You?
There are many sources of unclaimed money, including:
- Forgotten bank accounts: If you’ve ever opened a savings or checking account and forgotten about it, there’s a chance it was closed due to inactivity, and the remaining balance was turned over to the state.
- Uncashed paychecks: Employers turn over unclaimed wages if employees never cash their checks.
- Insurance refunds or benefits: Health, life, and auto insurance companies sometimes owe money to policyholders without them realizing it.
- Utility deposits: If you’ve ever paid a deposit for an apartment, electricity, or internet service, but didn’t receive a refund, it could be in the database.
- Stocks, bonds, and dividends: If a company issued dividends or liquidated shares you once owned, that money might be waiting for you.
How to Check for Unclaimed Money
If you’re curious whether you have unclaimed funds, checking is easy and free. Here’s how:
- Go to MissingMoney.com or Unclaimed.org. These are official, government-backed resources.
- Enter your name and state. If you’ve lived in multiple states, check each one individually.
- Follow the claim process. If you find a match, you’ll need to verify your identity and submit the necessary documents.
- Wait for your check. Processing times vary by state, but you should receive your money within a few weeks to a few months.
Final Thoughts
Checking for unclaimed money is one of those things that feels too good to be true, but it’s completely legitimate. States hold billions of dollars in unclaimed funds, just waiting to be collected. So take five minutes, do a quick search, and who knows? You might just find a nice surprise waiting for you.
