Treasurer Magaziner reunites
4,000 Rhode Islanders with $1.4 million
Rhode Island Treasurer Seth
Magaziner announced that "YOUR MONEY", a program which automatically
reunites Rhode Islanders with their missing money, is mailing checks to more
than 4,000 people; returning a total of $1.4 million back to its rightful
owner.
"We developed YOUR MONEY to
make sure as many Rhode Islanders as possible get their missing money back in
their pockets where it belongs," said Treasurer Magaziner.
"Many families struggle to meet their expenses each month. This money can help them buy groceries, put gas in their car, or be saved in a 'rainy day' fund."
"Many families struggle to meet their expenses each month. This money can help them buy groceries, put gas in their car, or be saved in a 'rainy day' fund."
YOUR MONEY matches the state's
unclaimed property database with verified address information so that money can
be returned it its rightful owners automatically. Rhode Island is only the
second state to adopt such a system. In many cases, individuals might not be
aware they were missing unclaimed property until the check arrives in the mail.
Unclaimed property can include money left in old bank accounts and safe deposit boxes, uncashed paychecks, unused balances on gift certificates, unreturned utility deposits, uncollected insurance payments and forgotten stocks and dividends.
Since the November 2017 launch
of YOUR MONEY, more than $17 million in Rhode Island unclaimed property has
been returned to over 52,000 people. Much of it has been returned
automatically, without the need for paperwork.
While YOUR MONEY can
automatically reunite many Rhode Islanders with their unclaimed property, all
Rhode Islanders are still encouraged to visit findRImoney.com
to see if the state is holding their unclaimed property.