COLUMBUS, Ohio – Could you use an extra $412? That’s the average amount for an individual claim paid out by the Ohio Department of Commerce’s Division of Unclaimed Funds, and now the Division says making a claim is easier.
The agency says a revamped website makes recovering unclaimed funds simpler.
A bank account, rent or utility deposit, uncashed check, undelivered stock certificate or uncashed insurance policy are some of the unclaimed funds that come to the Ohio Department of Commerce Division of Unclaimed Funds.
If there is no activity in the account for a period of time and the company cannot reach the account owner, the funds are reported to the Division for safekeeping.
Unclaimed (or abandoned) money and other assets not used for a length of time or whose rightful owner cannot be located are turned over to the Division after a specific period of time has passed.
The Division works aggressively to track down the rightful owner and reunite that Ohioan with their hard-earned, but forgotten money.
Cash received into the fund for fiscal year 2024 (7/1/23-6/30/24) was $65.4 million. For that same fiscal year 2024, the Division paid 68,384 claims totaling $28.4 million.
The largest personal claim paid fiscal year 2024 was $302,198. So…maybe you better check the Ohio unclaimed funds website to see if you have any “forgotten money.”
