Fri September 27, 2013
DiNapoli urges residents to check for unclaimed funds
State Comptroller Thomas DiNapoli says his office may have money that belongs to you. DiNapoli says the state is holding $12-billion in unclaimed funds from various financial accounts.
The comptroller says banks, insurance companies and other agencies turn the accounts over to the state if they can't locate the owners. DiNapoli says millions of dollars are owed to Western New Yorkers.
"It's about $114-million...just for the City of Buffalo $67-million. Western New York is a significant part of the unclaimed funds that we have in our program. We want Western New Yorkers to know this and check our system and get that money back to them," DiNapoli told WBFO.
DiNapoli says many of the accounts are in the $50 to $100 range, but the largest unclaimed account totals $1.7 million. He says some accounts date back several decades.
"Sometimes it's a security deposit with a utility, could be an insurance check that for whatever reason didn't get delivered and went un-cashed...those are the kinds of very typical ways that money will be declared abandoned and turned over to the state," DiNapoli said.
To find out if your name is on the list of unclaimed money, you can call the office of state comptroller at 1-800-221-9311 or visit the website.