{"id":2821,"date":"2025-01-27T09:22:20","date_gmt":"2025-01-27T15:22:20","guid":{"rendered":"https:\/\/thexradio3.com\/news\/?p=2821"},"modified":"2025-01-27T09:23:28","modified_gmt":"2025-01-27T15:23:28","slug":"state-treasurer-urges-illinoisans-to-check-on-unclaimed-property","status":"publish","type":"post","link":"https:\/\/www.thexradio.com\/news\/local-news\/2821-state-treasurer-urges-illinoisans-to-check-on-unclaimed-property\/","title":{"rendered":"State Treasurer Urges Illinoisans to Check on Unclaimed Property"},"content":{"rendered":"
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(STATE TREASURER MICHAEL FRERICHS)<\/div>\n
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National Unclaimed Property Day is coming up and Illinois Treasurer Michael Frerichs is urging people to check the I-CASH<\/a> missing money website to see if they have money or other unclaimed property waiting for them to claim.<\/div>\n
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\u201cNational Unclaimed Property Day on February 1 is a great day for people to visit our I-CASH website<\/a>, though you certainly don\u2019t have to wait until then,\u201d Frerichs said. \u201cIn fact, it\u2019s a good idea to check the website at least a couple of times a year to see if you, your family, or your friends have cash or property to claim.\u201d<\/div>\n
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\u201cWe work hard to return missing money and unclaimed property to the rightful owners,\u201d he added. \u201cPutting money back in your warm hands is better than keeping it in our cold bank vaults. Putting money back in the hands of Illinoisans does more good for our state\u2019s economy than it does sitting in our bank account.\u201d<\/div>\n
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\u201cUnclaimed property\u201d typically refers to items such as uncashed rebate checks or vendor checks, unpaid life insurance claims, forgotten checking accounts and the contents of overlooked safe deposit boxes. When companies and banks cannot return these items to the rightful owners, by law they are turned over to the Illinois State Treasurer\u2019s Office.<\/div>\n
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The state treasurer is legally required to return unclaimed property to its owners or their heirs, no matter how long it takes. Under Treasurer Frerichs, the office has set records for the number of claims and dollar amounts returned.<\/div>\n
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Every dollar counts. Just last month, for example, the Treasurer\u2019s Office helped Susan from Shelby County get a check for $452.50. (She asked not to be identified by her full name or hometown.)<\/div>\n
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\u201cI was incredibly impressed with how it went,\u201d she said, referring to the process of claiming her missing money. \u201cI think it was turned around in a week or less. The Treasurer\u2019s Office does great work.\u201d<\/div>\n
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Susan said the reason she had missing money \u201cis a weird story.\u201d<\/div>\n
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In spring 2020, she noticed money was missing from her bank account. The bank told her that her debit card had been compromised, and it needed to be destroyed. Somehow, she said, the money wound up in a digital wallet under her name. Despite her best efforts, she couldn\u2019t access the cash there because the digital wallet was associated with the old debit card.<\/div>\n
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Then, last summer, Susan received a letter from the digital wallet company saying that those funds soon would be turned over to the Illinois State Treasurer\u2019s Office as unclaimed property. Susan, who makes a habit of regularly visiting the I-CASH missing money database<\/a>, made her claim online in December. Two days later, the Illinois State Treasurer\u2019s Office told her to watch for a check to arrive by mail. The money came at a good time. \u201cIt was right before Christmas,\u201d she said.<\/div>\n
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The National Association of Unclaimed Property Administrators (NAUPA) <\/a>launched the first National Unclaimed Property Day on February 1, 2021, to inform more people about missing money. Treasurer Frerichs\u2019 Office is a national leader on unclaimed property issues and is frequently consulted by other states that are reforming their unclaimed property laws, rules and procedures.<\/div>\n
Frerichs\u2019 successes with unclaimed property include:<\/div>\n
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