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After a series of record-breaking years, we are excited to announce a new initiative, called Palmetto Payback, that will help us return even more unclaimed money.

The State Treasurer’s Office has launched a new process to match qualified unclaimed property to its rightful owner, and automatically initiate payment without the need for additional paperwork. The first batch of notification letters were mailed to recipients, and checks will be issued this spring.

While we are excited to automatically return funds to thousands of South Carolinians, there are many more properties available to be claimed. We encourage everyone, including those who received money as part of the Palmetto Payback initiative, to search the database at treasurer.sc.gov at least once a year to find and claim their missing money.

If you receive one of these letters, no action is required on your part to receive the funds unless the letter contains incorrect information. If your name has changed or is misspelled, or you no longer reside at the address to which the letter was originally mailed, please contact us at the phone number provided in the letter. When calling, please reference the letter and provide the Claim ID indicated on the letter. Otherwise, in approximately 4-6 weeks after you receive the letter, a check will be mailed to you at the address indicated on the letter.

When a business is unable to locate the owner of funds it is holding for an individual, business or other entity, the law requires them to report the funds to the State Treasurer’s Office as unclaimed property until the rightful owner can be located. This includes items such as uncashed payroll checks, forgotten bank accounts, utility deposits, life insurance policies, stocks, bonds and other funds that have been abandoned for several years.

Not all unclaimed property can be validated through this special program. In those cases, you may submit a claim through our website and provide any documentation necessary to prove ownership.