Unclaimed Property Program Helping You Find Your Money on WYFF
February 27, 2018
Treasurer Curtis Loftis and WYFF want to help you find your lost money. The State Treasurer’s Office currently has over $550 million in unclaimed property and over $115 million of this belongs to individuals in the Upstate.
WYFF is hosting a “Claim Your Cash” phone bank on Wednesday, February 28. Staff from the State Treasurer’s Office will be on hand to take your calls. If you miss the live phone bank, you can also search for unclaimed property online by clicking here.
Below are some common questions and answers regarding the Unclaimed Property Program at the State Treasurer's Office:
How do I find out if I have unclaimed property?
Go to the official website: www.treasurer.sc.gov and click to search for unclaimed property.
What is unclaimed property?
Unclaimed property refers to accounts in financial institutions and companies that have had no activity generated or contact with the owner for a period of time.Common forms of unclaimed property include savings or checking accounts, stocks, uncashed dividends or payroll checks, refunds, traveler's checks, trust distributions, insurance payments or refunds and life insurance policies, annuities, certificates of deposit, customer overpayments and utility security deposits.
How does unclaimed property end up at the State Treasurer’s Office?
If a company cannot locate the owner of funds after a certain period of time (usually five years), the company cannot keep the money. Acting in the best interest of consumers, every state has a law that requires unclaimed funds to be sent to the State’s Unclaimed Property Program who holds the funds until the rightful owner can be found.
How long does the State hold money?
There is no time limit. The rightful owner always has the right to claim the funds.
What if the original owner is deceased?
The Personal Representative for the estate can make a claim on the property by providing a copy of the death certificate, a currently dated Certificate of Appointment from the Probate Court, as well as proof of ownership of the property.
Is there any charge or fee for this program?
No. There is no fee for this service whether or not property is found under your name. If you are contacted by an individual or firm offering to return property to you for a fee, contact the The South Carolina Unclaimed Property Program Offices BEFORE YOU SIGN AN AGREEMENT.
How much money is the State holding?
Over $550 million dollars.
How much money was returned to its rightful owners last year by the Treasurer's Office?
$33 million was returned.
Follow the Treasurer’s Office on Facebook for updates: https://www.facebook.com/SCStateTreasurer/