Nearly 1,000 residents, churches and businesses in Corinth and Alcorn County have unclaimed money.
It’s now easier than ever to see if your name is on that list.
Earlier this year the state treasury launched a new e-claims system for searching and claiming unclaimed money.
“Most of us have had the experience of digging in our coat pocket to find a five-dollar bill we long forgot was there. That’s a little taste of what it’s like to find unclaimed money with the Mississippi Treasury,” said Treasurer David McRae. “For years, it’s been pretty easy to find the money, but claiming it has presented a few more hurdles, until recently that is.”
Most often unclaimed money appearing on the state treasury website are funds that are turned over to the state when banks, credit unions, retail stores and utility companies can’t figure out where to deliver the check.
After five years, financial institutions turn that money over to the state and the state treasury is charged with finding the owner and returning the money.
“About one in 10 people have unclaimed money,” said McRae, who since the beginning of 2020 has returned more than $27 million to people and businesses across the state.
After recent upgrades to the website, McRae’s department launched a much easier way to search and complete claims online.
“Despite the success (before the upgrades), it was clear we could make the process even easier for Mississippians by giving them the option of doing everything online, so that’s what we did,” he added.
Gone is the requirement for people with unclaimed money to have a notary certify a claims form. Also gone is the need to mail the form to the state.
“The e-Claims process is encrypted, meaning it’s arguably more secure than dropping this information in the mail,” said McRae.
Mississippians are often able to recover $100 or $200 in unclaimed money, but other times the payouts can be significantly higher.
“We had one young man, for instance, who learned he had a missing inheritance totaling more than $90,000,” added McRae.
Unclaimed money for individuals, businesses, organizations and churches can be searched at treasury.ms.gov/unclaimedmoney.