Unclaimed Cash – A Myth or A Reality?

by Dev Duff on November 8, 2011

I have read several success stories about unclaimed cash on many reputed websites and forums. But is it just a myth or is it a reality? To know the truth behind unclaimed cash, I researched a lot and I have some interesting information and statistics to share with you. Who knows, you may be lucky enough to find some unclaimed cash too and benefit from it. To begin with, let’s share some statistical information and I will also share authorized websites that claim these statistics are true or not. Here’s some interesting information and facts about unclaimed money that can astonish you.

Unclaimed Cash Statistics

During a show Oprah Winfrey did on Unclaimed Money she stated, “8 out of 9 families have someone owed unclaimed money”! According to the website, “Just a few years ago, they passed a law that says banks can actually contact you to let you know you have money with them. Why do they need to contact you? Because you are all just scatterbrains when it comes to money! You open up a bank account, but you forget you did. You put a deposit down on utility companies, but you forget you did. And then, they can’t find you because you are moving so often. So, they will send you a letter saying they owe you money. You’ll think it’s a scam, but it’s not”.

So “unclaimed cash” or “unclaimed money” is not entirely a myth, it may be a reality that you may have some unclaimed cash that you can bank on! Many a times banks can’t locate you to inform you and the money just sits in bank waiting for you to claim it. Also, it is important to keep in mind that if you received some email or letter about unclaimed cash, you should verify it with the source of the email/letter. Many people have fallen to scams related to unclaimed cash. So the thumb rule, be careful in following such emails and letters. But the biggest fact is that there is over $35 BILLION in unclaimed money in the United States!

Reasons for Unclaimed Cash

While there are many reasons you may have unclaimed cash, here are a few reasons how your cash may have been resting with some bank, utility company or other organization which you should claim:

  • You put a deposit down on utility companies, but you forget you did.
  • You opened a new bank account, made initial deposits and forgot about it.
  • You opened a new bank account in your family member’s name and forgot about it.
  • You deposited funds with a utility company and forgot about claiming the money.
  • You canceled an account with some utility company and forgot to take refunds.
  • You over-paid to a utility company or organization and moved to a new location.

Other reasons why your money/cash goes unclaimed:

  • forgotten savings and checking accounts
  • uncashed checks
  • securities
  • dividends
  • insurance refunds or claims
  • oil royalties
  • wages
  • utility refunds/deposits
  • bail bonds
  • child support payments

These are just a few reasons how the cash goes unclaimed, the list of reasons goes on and on. The point is, that money belongs to you and you should get it back. There are a lot of websites out there that claim to get your money back but very few promise to get your money back with a guarantee. But there are a few who guarantee to help you find and claim your money. CashUnclaimed.com offers a money back guarantee to find your unclaimed cash. They have been in business for over 8 years and have a solid B+ rating with the Better Business Bureau (BBB.org). They have helped thousands find lost money owed to them. Also, their database has money from all 50 states and federal databases which becomes very handy while searching your unclaimed money. You don’t have to check 20 websites to sum up all of your unclaimed cash. Just go ahead and make a search with your name and then come back flying how much money they owe you!

I just searched their database with my name “Dave Duffy” and found that $4,829.06 may belong to me. Isn’t that just sweet if I get that money. Go ahead and make your search at CashUnclaimed website with your name to find out how much money belongs to you!

What Exactly is Unclaimed Cash or Unclaimed Money?

Some people think that “unclaimed money” is too good to be true… It is a very real thing. When people leave money in dormant bank accounts or move and forget to change their address for utility deposits or dividends, all of this money is turned over to the state or federal government to hold. Unfortunately, that is where is sits until the owner finds and claims it. Some of the unclaimed funds are also inheritance owed to generations past that need to be claimed by heirs. You can perform a free search with your name just to see if there is any unclaimed money in your name. If the money belongs to you, just imagine, all that money can help you make your financial situation stronger.

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