CHARLESTON, W.Va. –(WWNR) State Treasurer Riley Moore today announced his Office returned more than $1.3 million in unclaimed property to residents during the month of August.
“This is the people’s money and we’re constantly working to return it to them,” Treasurer Moore said. “I encourage everyone to visit our website – www.wvtreasury.com – today to see if we’re holding anything in your name.”
The Unclaimed Property Division paid 979 claims during the month, totaling $1,386,258. That’s higher than the average $1.1 million paid out during the month of August over the past six years.
The Treasurer’s Office pays out an average of $15 million in unclaimed property each fiscal year. Treasurer Moore said he and his staff are continually working to find new ways to educate the public and help individuals find if they have unclaimed property in their name.
“In addition to the Unclaimed Property Bulletin newspaper insert that we will be running during October, we are increasing the amount we spend on digital advertising to help raise the profile of this program,” Treasurer Moore said. “We want to make it as easy as possible for our residents to find and claim any funds that may be out there in their name.”
What is Unclaimed Property?
Unclaimed property can include financial accounts or items of value in which the owner has not initiated any activity for one year or longer. Common examples include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards.
West Virginia’s unclaimed property laws protect the public by ensuring money and property owed to them is returned to them, rather than remaining permanently with financial institutions, business associations, governments and other entities. The Treasurer seeks to reunite the unclaimed property, including uncashed paychecks, stocks, or safe deposit box contents, with its owner.
Nationwide, nearly 33 million people in the United States – one in every 10 – are estimated to have unclaimed property available for them to claim.
How Can I Find Unclaimed Property in My Name?
West Virginians searching for lost financial assets can go to www.wvtreasury.com, then click on the large Unclaimed Property “Search” button to the right of the page under the heading, “Are We Holding Your Money?” In addition to finding property, the www.wvtreasury.com website will also help you track a claim.
A demonstration of how to use the Unclaimed Property search site is available on the Treasury’s YouTube page, at: https://youtu.be/K09yQ7YNKlE.