Thousands of South Carolinians could soon find a check in their mailbox, thanks to a newly launched program by the State Treasurer’s Office aimed at returning unclaimed property to its rightful owners.
The initiative, titled “Palmetto Payback,” enables automatic matching and distribution of funds without requiring residents to submit a formal claim.
Program Overview
The first round of disbursements—more than $600,000 spread across 3,800 checks—is already underway.
Qualified recipients have been pre-verified through state-held data, expediting the return of long-forgotten assets such as uncashed checks, dormant accounts, and unclaimed insurance payouts.
It’s getting more expensive to live—but you may qualify for financial relief!
Statistics and Eligibility
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$950+ million in total unclaimed property is held by the state.
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1 in 7 South Carolina residents may have unclaimed assets, averaging $500.
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Not all types of unclaimed property are eligible for automatic payment under this program.
Funds typically originate from financial institutions, insurance companies, and utility providers that have lost contact with account holders.
Once classified as unclaimed, these assets are turned over to the Treasurer’s Office for safekeeping.
What to Do If You Don’t Receive a Check?
The Treasurer’s Office encourages all residents, even those receiving automatic payments, to visit the official unclaimed property website and search for additional funds.
Many accounts require identity verification or supporting documentation to release funds not matched through the automatic process.
Conclusion
The “Palmetto Payback” initiative marks a forward-thinking step toward reducing the state’s unclaimed property backlog and improving access for its citizens.
It demonstrates how data-driven processes can deliver tangible financial benefits directly to the public.
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