Treasury Returns $30 Million in Unclaimed Money
State Treasurer David McRae today announced the Mississippi Treasury has returned more than $30 million in unclaimed money since he took the helm in January 2020. The returns have been made through 10,000 separate claims.
“I am incredibly proud of our unprecedented effort to return unclaimed money to the people of Mississippi,” said Treasurer McRae. “This money has become a critical economic stimulus as families endured the pandemic’s economic setbacks. But unlike many of the federal packages, this stimulus didn’t increase government debt.”
Unclaimed money is turned over to the state when banks, credit unions, and even retail stores are unable to find the rightful owner. After five years, financial institutions turn that money over to the state and the Treasury’s Unclaimed Property Division is charged with finding the owner and returning the cash.
McRae continued: “Maybe it was an inheritance you didn’t know you were entitled to or an electricity bill refund that was sent to the wrong address. In some cases, the money belongs to a business or non-profit group. In other cases, it goes to a community or an area hospital. In most cases, it is an individual that gets to experience the excitement that’s only akin to finding a few bucks in the pocket of an old coat.”
To search for unclaimed money in your name, please visit Treasury.MS.gov/Search.