ROCHESTER, N.Y. (WROC) — Almost $60 million in 2022 alone, and around $400 million in the last fiscal year, the New York State Office of Unclaimed Funds is giving back $1.5 million a day back to New Yorkers.
They encourage New Yorkers to look on their website, type in their name, and see what unclaimed funds might be waiting for them. If you know someone without Internet access, they can call 1-800-221-9311.
“People can just go online, put in their last name and first name in, and they can see if there’s anything there for them, (or for) their friends or family,” said Lawrence Schantz the Director for Office of Unclaimed Funds, adding that Schantz says that they process 90% of their claims on the website. “In fact, if something shows up to your friend or a family member, you can share it.”
Schantz says that these unclaimed funds are essentially money — most often in the form of checks — that has been given to New Yorkers in the form of checks or other property that went unclaimed. After an average of about three years, Schantz says, those funds are returned to New York State and the Office of Unclaimed Funds for safe-keeping.
“So the comptroller acts as a custodian until that individual, corporation, organization, not for profit comes forward and claim claims their funds,” Schantz said.