How to Be Reunited With Your Long-Lost Money - NerdWallet (2024)

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Are you owed money you don’t even know about? You might be, if your name is in an unclaimed property database. Each year, billions of dollars from forgotten security deposits, refunds, uncashed paychecks and even old bank accounts are reported to state agencies. And each year, according to the National Association of Unclaimed Property Administrators, an organization affiliated with state treasury departments, states return more than $3 billion to their rightful owners.

Just ask Maria Barlow, an attorney in Chicago. A few months ago, she was sitting at home when she decided to plug her name into the Illinois unclaimed property website. “I was surprised to see there was an entry,” she says. Fast forward a few weeks, and she had a check in hand for $47.80.

If you are wondering if you have unclaimed property, here’s how to find out.

Search online at state agencies

The National Association of Unclaimed Property Administrators’ website, Unclaimed.org, links to agencies in all 50 states, the District of Columbia and other territories. With these sites, you can search unclaimed property databases for free. The organization also sponsors MissingMoney.com, which lets users search multiple states at once, though not every state participates.

To pull up the property database, you will likely be asked to enter a last name. You could also enter a first name, city or ZIP code to help narrow the search. From there, you may find entries detailing the owner’s last known address, property amount and the company that initially held the funds. Depending on the database, the state may provide the exact amount of the property, or give a range, such as “under $50” or “$50 or more.”

Barlow says her entry was from an old internet provider. The company owed her a refund because she moved and switched off service before her billing period ended. But it didn’t have the correct forwarding address, so it sent the money to the state. Barlow says she filed a claim online, and it was processed within two weeks. “Even in the pandemic, it didn’t take long to receive it,” she says.

Finding a small amount can still give you breathing room in your monthly budget or help pad your emergency fund. (Read more about emergency funds and why they're important.)

Prove you are the rightful owner

Filing a claim may involve scanning and uploading identification, such as your driver’s license, and other documentation that you live (or lived) at the address on file. For example, you might be asked to upload a recent utility bill. For certain types of claims, such as those for money orders, you may need to mail documentation instead of uploading. (You can read more about money orders here.)

Heirs can follow a similar process for claiming property if the owner is deceased. Lorrie Walker, a financial advisor in Lakeland, Florida, advised a client earlier this year whose late husband had funds in old bank accounts. She says her client provided additional paperwork, including her husband’s death certificate, to claim the property.

Later, Walker checked the state treasury website for unclaimed property of her own. “Sure enough, there was money for a security deposit in an apartment I lived in 20 years ago,” Walker says. She filed a claim online and, a few weeks later, received a check for $125.

If the property is tied to an old address, don’t be discouraged. In Barlow’s claim, she explained that she no longer had documentation, and she still received her money, she says.

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How to Be Reunited With Your Long-Lost Money - NerdWallet (5)

It is OK to be nosy

Data within unclaimed property databases is publicly available, so you can search on behalf of others. You can then alert them if they have lost funds, but it’s their responsibility to claim the funds and prove ownership.

Barlow says she entered the names of about 15 family and friends and found unclaimed funds for many. She says that since she alerted them to the cash, many were able to collect. “I may be nosy, but I found them money,” she says.

Pro tip: Make the most of your money

If you do find and receive funds, you can make this “found” money work for you by putting it in an account with a high interest rate. These accounts may earn 10 times more than the national average, so you can take the unexpected funds and grow them even more.

The smaller amounts may not make you rich, but they can still be worth searching for, Walker says. “At the end of the day, it is your money. So it’s better for you to have it than the state.”

How to Be Reunited With Your Long-Lost Money - NerdWallet (2024)

FAQs

How to Be Reunited With Your Long-Lost Money - NerdWallet? ›

Search online at state agencies. The National Association of Unclaimed Property Administrators' website, Unclaimed.org, links to agencies in all 50 states, the District of Columbia and other territories. With these sites, you can search unclaimed property databases for free.

What is the website to recover lost money? ›

To start, visit NAUPA's website Unclaimed.org, a national network collecting records from all 50 states. From there, you can find links to each state's official unclaimed property program. These are all vetted government resources, so it's important you go through NAUPA-provided websites versus a general search engine.

How do I recover my lost bank account? ›

If you know where the account was held, contact the bank or provider directly. If not, there are free services you can use. These use your details to track down any missing accounts on your behalf. If an account is found, you'll normally need ID to reclaim the money and any interest due.

How do I find money in an old account? ›

An easy way to find unclaimed money is to search by state — to do this, go to Unclaimed.org. Select your state and enter information like your first and last name. Or if you're searching on behalf of your business, you can enter your organization's name.

What are the requirements to use NerdWallet? ›

To use the Services you must (i) be at least eighteen (18) years of age; (ii) have not previously been suspended or removed from the Services; and (iii) register for and use the Services in compliance with any and all applicable laws and regulations.

How do I come back after losing money? ›

5 steps to help you recover from a financial setback
  1. You can succeed. Accept the reality of your challenge and handle it quickly and aggressively. ...
  2. Know your financial resources. ...
  3. Set up a budget and prioritize expenses. ...
  4. Take action now. ...
  5. Seek out professional help.

What to do when you lose all your money? ›

Surviving . . .
  1. Acceptance. Accept the fact that this loss has really happened to you. ...
  2. Build and use your support system. Find people you trust: friends, family, spiritual leaders. ...
  3. Get a different perspective. Put the brakes on rumination. ...
  4. See what you can learn. There's a lesson in everything. ...
  5. Find the gifts.

Can I get bank statements from 15 years ago? ›

After about 10 years, banks usually archive the records offline or to microfilm/digital storage. This gets closed account records off the main system but is still accessible if needed. Old records may be destroyed after 20-30 years per bank policy.

How do I find all bank accounts in my name? ›

How to find accounts in your name
  1. Check your credit reports. ...
  2. Review your online banking statements. ...
  3. Contact financial and government institutions. ...
  4. Close all suspicious accounts opened in your name. ...
  5. Double-check your debit and credit cards. ...
  6. Take action. ...
  7. Safeguard your personal information.
Feb 22, 2024

How do I reactivate my dormant account? ›

A dormant bank account is one that has no activity for over 2 years. Banks do this to mitigate fraud, comply with regulations, and reduce costs. You can reactivate your account by making a transaction or contacting your bank. Banks have regulations in place to activate dormant accounts.

Do banks keep records of old accounts? ›

Banks are required by federal law to keep records for five years. Check with your bank for specific details about how to access your old statements. Take Our Poll: What Are Your Financial Priorities in 2023?

How do I find all my old accounts? ›

However, the targeted approach outlined below could be faster and more effective.
  1. Search Your Username. ...
  2. Look for Old Emails. ...
  3. Go Through Your Saved Log-ins. ...
  4. Check Your Google and Facebook Accounts. ...
  5. Try Username, Privacy, and Security Sites. ...
  6. Avoid Search-and-Delete Services. ...
  7. Digital Housekeeping.
Oct 26, 2022

What do banks do with old accounts? ›

Generally, an abandoned account is one for which there has been no customer-initiated activity or contact for a period of three to five years. States' abandoned-property programs require banks to turn over the funds of such bank accounts to the custody of the state treasurer.

What is better than NerdWallet? ›

WalletHub. WalletHub is the only app that offers 100% free credit scores, WalletScores and full credit reports. Get personalized tips to help you save money and improve your WalletScore and credit score.

Is NerdWallet better than Credit Karma? ›

Consider whether your primary concern is tracking your finances or managing your credit score. Credit Karma is likely the best option for you if your primary concern is managing or improving your credit score. If your primary concern is budgeting and finance tracking, NerdWallet is likely the better choice.

Is it safe to use NerdWallet? ›

Your sensitive data and details are encrypted for enhanced security. We partner with the leaders in account linking technology.

What happens if a bank loses your account? ›

If your bank fails, up to $250,000 of deposited money (per person, per account ownership type) is protected by the FDIC. When banks fail, the most common outcome is that another bank takes over the assets and your accounts are simply transferred over. If not, the FDIC will pay you out.

How do I find my old bank account number? ›

How Do You Find Out Your Account Number? You can find your bank account number on your bank statements, printed at the bottom of a paper check, or by logging on to the bank's website. If you can't find it in these ways, try visiting a bank branch in person.

What happens if your bank account gets deleted? ›

Your account may be frozen. Debits will be blocked and deposits won't make it in. You'll get your money back (usually). You may receive a check in the mail for the remaining balance, unless the bank suspects terrorism or other illegal activities.

Can I check if a bank account exists? ›

To check a bank sort code is valid, you can use a lookup table and keep this table updated as the data changes. Alternatively you can use a system like Mintly. Our database is updated weekly with the newest data and algorithms, and our stable API allows you to query a sort code, and account number.

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