Imagine stumbling upon money you didn’t know you had! In Virginia, millions of dollars in unclaimed property are sitting in state coffers, just waiting for their rightful owners to come forward.
In 2024 alone, the state collected a record amount, thanks to rising interest rates.
The best part? Some of that money could have your name on it.
What Exactly Is Unclaimed Property?
We’re talking about things like forgotten bank accounts, uncashed paychecks, insurance payouts, and even long-lost stock dividends.
If companies can’t find the owners of this money, they send it to the state, where it sits until someone claims it.
And yes, people forget about their money more often than you’d think!
The Virginia State Treasurer’s office saw a big surge in unclaimed property this year, with millions flowing in from various sources.
Finding Out if You’re Owed Money Is Simple
Curious if some of that cash might be yours? Here’s the deal—Virginia has made it super easy to check.
Just go to the Virginia Unclaimed Property Database, enter your name, and see if anything comes up.
If you’ve moved around a lot or lived in multiple states, you should also check MissingMoney.com, which searches several state databases at once.
You might be pleasantly surprised!
For more details on how unclaimed property works in Virginia, check out the Virginia Department of the Treasury’s Unclaimed Property Program.
What Happens to Unclaimed Money?
So, what happens to all this unclaimed property? If no one claims it, the money doesn’t just disappear.
The state uses it to fund programs and public services—everything from road improvements to educational initiatives.
But don’t worry—you can still claim your funds whenever you’re ready. The money is legally yours, even if it’s been sitting there for years.
Read: Do You Have Unclaimed Money Waiting for You?
How to Make Sure Your Money Doesn’t End Up Unclaimed
While finding forgotten money is exciting, you can avoid this situation altogether by staying on top of your finances.
Here are a few simple tips to keep your money where it belongs:
- Keep your contact information up to date with banks, employers, and insurance providers.
- Regularly check old accounts, especially if they’ve been inactive for a while.
- Use financial tracking tools like Mint or Personal Capital to help monitor your accounts.
Why It’s Worth Checking
Think of it like this: a quick search could unlock money you didn’t even know you had.
It only takes a few minutes, and it could lead to a nice little financial boost.
Whether it’s $20 from an old utility refund or a much bigger sum from an overlooked insurance payout, it’s money that’s rightfully yours.
So, why not take a moment to check? Head over to the Virginia Unclaimed Property Database or MissingMoney.com and see if there’s some cash waiting with your name on it. It’s always nice to find a little extra in your pocket!
Previous article: Easily Claim Your Unclaimed Money in British Columbia – Here’s How
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