New York State has over $13 billion in lost money. Lost money is private money that has been unclaimed. Banks, insurance companies, corporations and the courts are among the many organizations required by law to report dormant accounts to the State Comptroller.
These organizations must attempt to notify you by mail and publish the information in newspapers. Despite these efforts, many funds remain unclaimed and are turned over to the Office of the State Comptroller. Some types of unclaimed funds accounts include: bank accounts, court funds, dividends, estate proceeds, insurance benefits, stocks, and security deposits. According to a local news station who released a story about this service, within one week, Western New Yorkers had claimed $311,836 in lost funds.
These funds are not just exclusive to individuals. If you own a business, the funds could be in your business’ name. Be sure to search different names you may go by, misspellings, or first initial.
This is a free service offered by the Comptroller’s office. Visit the following link to search to see if you have any lost money owed to you: http://www.osc.state.ny.us/ouf/
There is also a website to search the U.S. Federal government’s unclaimed funds database. Follow this link to access: http://www.usa.gov/Citizen/Topics/Government-Unclaimed-Money.shtml