More than $125 million in unclaimed funds belongs to residents of the Rio Grande Valley, according to the Texas Comptroller’s Office.
Officials say much of this money has gone unclaimed simply because people don’t realize it exists.
The unclaimed funds come from forgotten bank accounts, uncashed checks, utility deposits, insurance payments, refunds, and royalty checks.
Worth reading: The State By State Guide to Unclaimed Assets
When accounts remain inactive for several years, businesses are required by law to turn the money over to the state, which holds it until the rightful owner comes forward.
State officials note that the Valley consistently ranks among the regions with the largest amounts of unclaimed property but also one of the lowest claim rates. Frequent moves, closed businesses, and outdated contact information are common reasons money goes unclaimed.
Checking for unclaimed property is free and quick. Texans can search their name at ClaimItTexas.gov, the official state database, without creating an account.
The Comptroller’s Office recommends searching current and former names, including nicknames or misspellings, as well as past addresses.
If money is found, residents can submit a claim online. Most claims require proof of identity and a connection to the listed address or business, and are typically processed within a few weeks.
Who May Be Eligible to Claim Unclaimed Property
You may have unclaimed money if you:
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Previously lived or worked in Texas
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Changed addresses without updating financial records
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Had old or inactive bank accounts
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Were owed a refund, insurance payout, or utility deposit
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Owned or worked for a business that closed
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Are an heir or beneficiary of a deceased relative
Texas currently holds over $7 billion in unclaimed property statewide, and officials encourage residents to check regularly, as new accounts are added each year.
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