Ohioans Encouraged to Check for Unclaimed Funds
COLUMBUS, Ohio – The Ohio Department of Commerce’s Division of Unclaimed Funds is encouraging Ohioans to check for forgotten money.
The division has more than $3 billion in unclaimed funds. In the past year, more than $134 million was returned, and Ohioans’ average claim was $4,000, the division reported.
“You can look up an unclaimed fund for anyone, and we encourage you to do that,” said Susie Wagner, outreach administrator for the Division of Unclaimed Funds. “We have found that much of the unclaimed funds belong to people over 50 years of age and deceased individuals. So we want people to not only search their names, [but also] search their parents, grandparents and any family members who are living or deceased.”
Unclaimed funds are lost or forgotten money that businesses and banks report after accounts become inactive, typically three to five years. The money comes from inactive checking and savings accounts, refund/credit balances, uncashed cashier’s checks, stocks and bonds, forgotten utility deposits or last paychecks.
Ohioans can check for unclaimed funds HERE or by calling 614 466 4433.
Published by The Business Journal, Youngstown, Ohio.