NEW YORK (CBSNewYork) — If you need some cash, you could have the right to part of a multi-billion dollar stockpile in New York State.
As CBS 2’s Cindy Hsu reported, the state is trying to get the funds back into the hands of its rightful owners.
About $13 billion in unclaimed funds has been turned over to the state Comptroller’s office dating back to 1943.
“Most of our accounts come from old bank accounts. Also it could be utility deposits that haven’t been collected, even apartment security deposits that you may have put down, and uncashed checks as well,” said Nikki Jones of the state Comptroller’s office.
To get word out, the office is participating in public events across the state to show people how easy it is to check if you’re owed money.
All you need to do is go to the comptroller’s website and type your name.
Actor Malik Yoba came by the booth at one of the events and tried it out.
“Search. New York State, come on baby. It’s like playing lotto right?” he said.
No luck for Yoba, but his father’s name came up, Hsu reported.
“He has something coming to him from Motors Insurance Corporation. Wow!” Yoba said.
Yoba’s father passed away nearly 20 years ago, but his family can now claim the money after sending in some paperwork for verification.
Currently, there are nearly 31 million accounts of lost money and there’s no expiration on claiming the funds. You just need to check if your name is on the list, Hsu reported.
You can also call 1-800-221-9311 to find out if you are owed money.
Hsu also checked the database, and discovered she was owed money. There’s a six-step process to go through online in order to claim the funds using information such as your name, address, and social security number.
Hsu said the entire process took less than 5 minutes.
The comptroller’s office said Hsu should get a check within a week, and that she won’t know how much money is owed until the check arrives.
The average amount of lost money is $100 or less, but currently there’s a single unclaimed account worth $1.7 million.
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