New Yorkers are now receiving the money that is owed to them.
If you reside in New York, it is crucial to meticulously inspect your mail as the state has commenced the distribution of unclaimed funds.
New Law In New York Means Money In Your Pocket
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A recent revision to state legislation opens up the possibility of receiving a check worth up to $250 without the need to file a claim. Towards the end of 2024, Governor Katy Hochul of New York signed a bill that enables the Office of the State Comptroller to fast-track the processing of specific payments for unclaimed funds amounting to $250 or less.
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According to Comptroller Thomas DiNapoli, his office currently holds more than $19 billion in unclaimed funds. In a daily effort to reunite this money with its rightful owners, New York State returns $1.5 million to individuals who file claims.
Committed to helping New Yorkers reclaim their lost funds, DiNapoli emphasizes the importance of simplifying the process. With over $19 billion in unclaimed funds, his office aims to ensure that every individual can effortlessly claim what rightfully belongs to them. By streamlining the procedures, DiNapoli’s office can expedite the return of lost money, making sure it reaches its rightful owners promptly.
$600 Million Returned To New Yorkers In 2024
In 2024, the total amount of money refunded reached almost $600 million. On average, the claims that were paid out ranged from $50 to $100.
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Unclaimed funds typically originate from various sources such as forgotten bank accounts, uncashed checks, expired gift cards, or funds that have been deemed abandoned and subsequently handed over to the state.
Money Owned To Deceased Relatives
If you’re an heir, you may be entitled to some of the money, even if it is owed to people who are no longer alive.
I recommend visiting the Comptroller’s website and conducting a search using the names of your relatives. Following this advice, I decided to search for my grandmother’s name on the website.
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To search for yourself, a relative, or a friend, simply click on this link.
