It costs you nothing to get the money back if you find your name on the list, and it doesn’t take much time either.
These once meant something to someone, and either they or their heirs have forgotten about it.”Ĭamp said that anything that is not claimed is auctioned off, because there’s not enough space to keep it. An amazing array of collectibles from time past - wills and even war medals. “These jewels and valuables are simply left in safety deposit boxes. “So, really, with one-in-five chances, you’ve got something better than the lottery!” The billion dollars’ worth of unclaimed assets that have been abandoned for five years or more sit in a vault at the state capitol in Springfield.Īllissa Camp, Director of Unclaimed Property, showed Vatis the stash of goods. “We’re talking five million names and $1 billion,” Topinka said. Topinka said the number of potential claimants gives Illinois residents a one-in-five chance of being on the list of people whose money is being held by the state of Illinois. “Over the last two years, we’ve returned $125 million to people.” The biggest payout, so far, has been $800,000, according to Topinka. “We just try to pump it back,” Topinka said. State Treasurer Judy Baar Topinka initiated “Illinois Dash for Cash,” the state’s campaign to get people their money.
“I don’t know (why it was there) - could have been stocks, bonds, inheritance.” “They told me Chase Manhattan Bank, out of New York,” Dugan said of the money’s source. “How could I have lost this without knowing it?” One claim alone gave him a $13,000 check. Steve Dugan, for instance, was able to claim more than $20,000. While the average payout is $400 to $600, Vatis said, there are also bigger windfalls. The unclaimed funds usually come from forgotten bank accounts, stocks, bonds, security deposits and insurance checks, Vatis reported, but sometimes, she said, even entire estates go unclaimed. “I had a deceased aunt, with a savings account (that was) never claimed,” said Fadi Zanayed. All you need is your name on the Illinois Dash For Cash website, and the state’s computers will figure out if you’re entitled to any of the unclaimed money. In Illinois, the state treasurer is tasked with safeguarding unclaimed property, such as unpaid life insurance benefits, forgotten bank accounts and unused rebate cards.īecause unclaimed property is reported to the treasurer’s office twice a year, it is recommended individuals check the database every six months.The Illinois Dash For Cash is the term the Illinois Treasure’s Department uses to describe their unclaimed money search website.ĬHICAGO - You say you could never lose your money? You could be surprised, NBC5’s Kim Vatis said, because according to the State Treasurer, there could be a one-in-five chance that some of the forgotten funds held by the Illinois Treasurer’s Office belong to you.
To find out if you have unclaimed property in Illinois, visit Unclaimed property refers to money or accounts within financial institutions or companies in which there has been no activity for several years and the legal owner has not responded to inquiries by the business. Since 2015, $1.3 billion in unclaimed property has been returned, the most that has been returned in the program’s 60-year history. The National Association of Unclaimed Property Administrators (NAUPA) launched the first National Unclaimed Property Day on February 1, 2021, to inform more people about unclaimed property.Īn estimated one-in-four people in Illinois find unclaimed property and the average claim is $1,000. Today, Illinois is celebrating National Unclaimed Property Day to raise awareness and encourage people to check if they have cash or property owed to them.
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