Do you live in New York State? Here’s a website where you can check to see if the state is holding any unclamied funds in your name.
For your protection, banks, insurance companies, utilities, investment companies and many other businesses are required by State law to surrender inactive accounts to the State. The Office of the State Comptroller serves as custodian of this money until you claim it. The State of New York never takes ownership of this money. If you can prove you are entitled to the money, we will gladly return it to you, at any time, without charge.
This website will tell you how to avoid having your money turned over to the State and how to get it back if it is abandoned.
I checked, nothing there for me. Not for anyone else I know, either. Oh well. I’d checked several years ago, and did find some unclaimed money in a savings acocunt in my name. Apparently, when I was born, one of my relatives started a savings account for me. I found out about it at age 30. Guess how much money accrued after 30 years? $17.24. :-p Interest rates for savings has always been pitifully paltry; it’s almost criminal. Not even enough to get a pizza or notebook memory, blech. Oh well, $17 is $17, eh?
Anyway, there may be something there for you! Check it out!
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#1 by Mike on May 6, 2009 - 7:05 am
I wonder if other states have similar programs to claim funds – you never know if you have money hiding someplace.
#2 by FishHawk on May 6, 2009 - 12:13 pm
Only $17,24 after 30 years? What did it start out as–a dollar?
I don’t know if there is anything that can be done about it, but it might warrant a closer look. For interest rates on regular savings accounts back then were usually 5%.
Of course, since my own head starts to explode every time I even think about trying to figure simple interest rates, there may be great danger in taking a closer look for you as well. Please be responsible and alert the proper authorities if you decide to proceed with an investigation.
#3 by Mrs. Mecomber on May 6, 2009 - 12:28 pm
Right you are, Mike. I would think that the comptroller for each state might have something about this on his/her website? That’s where New York’s is.
#4 by Technoloy Professional Org on May 15, 2009 - 3:27 am
I hope the other states have that too. There is really no harm in trying to check if you have unclaimed funds. who knows?