The South Carolina Treasurer’s Office has successfully returned $38 million over the past year to people who, in many cases, had no idea they were entitled to it.
This money originates from businesses that have been unable to track down the people to whom they owe funds.
In total, around 73,000 payments were made to individuals, businesses, and other organizations, according to Karen Ingram, Communications Director for the South Carolina Treasurer’s Office. Despite these significant payouts, the amount of money in the Unclaimed Property Program continues to grow.
Last year, the total was $850 million; now, it’s approaching an astounding $1 billion.
While Ingram couldn't share specific details about the recipients without their permission, a few people have opted to reveal their windfall over the years.
For example, the city of Columbia received a check for $28,099 in 2022, Richland School District 2 was awarded $46,726, Friends of the Pickens County Library collected $30,249, and Merritt Custom Homes received $26,357.
A particularly notable case from 2020 involved the Edgar T. Cato Foundation, which was given $462,000. Edgar T. Cato, linked to the Cato Fashions clothing store chain, purchased stocks that ultimately led to this payout. Cato passed away at the age of 86 in 2011.
The Unclaimed Property Program was established by law in 1971, but some funds in the account date back to the 1940s.
Checking whether you're owed money is as simple as entering your name into a search field on the Treasurer’s Office website.
The amounts can vary widely—some people discover they are owed just a few dollars, while others learn they are entitled to a million dollars.
However, those with the larger payouts have chosen to remain anonymous.
South Carolina law mandates that the Treasurer’s Office issue checks within 90 days, but in some cases, the funds can be released in just a few days, especially when the situation is straightforward.
These funds are invested alongside other state funds, but recipients receive the exact amount turned over to the state by businesses and other entities.
To find out if you have unclaimed money waiting for you, visit the South Carolina Unclaimed Property Program and search for your name today.
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