Huntington, CA (PressExposure) October 13, 2009 -- Florida Unclaimed money is on the rise even amidst the failing economy and financial hardships across the United States. In Florida, the unclaimed cash and property is taken and managed by the state Department of Financial services.
Every year hundreds of millions of dollars in FL unclaimed money and abandoned property and cash is claimed by the state government because the owners have failed to stake a claim to their rightful funds. As of last account, the Chief Financial Officer of Florida holds almost $1 billion of unclaimed funds - mostly in the form of utility security deposits, dormant financial accounts and securities and trust holdings. This unclaimed cash reserve does not include tangible property such as watches, jewelry, coins, currency, stamps, historical items and other miscellaneous articles from abandoned safe deposit boxes.
Currently there are almost 8 million accounts in Florida's Unclaimed Property database. In March, over $19 million has been reimbursed to the rightful owners. Chief of Unclaimed Property Walter Graham says billions in property and cash remain. "Unclaimed property is any type of financial account where there's unclaimed insurance benefits, an insurance policy that someone had they did not cash in. An uncashed check, uncashed wage checks, money that has been left in a bank account," said Graham.
Due to state regulations, the unclaimed cash is deposited into the state school fund where it is utilized for the improvement of public education. But, there are no time limits for filing a claim and this can be done at any point of your unclaimed cash search process.
Florida is known for its excellent retirement benefit plans and thus is home to millions of retirees. Many companies where these retired population worked have no option but to turn over the unclaimed cash and refunds of this retired population to the state government.
Florida residents can search for unclaimed cash and property either through the State's Unclaimed Property Search site (www.fltreasurehunt.org) or call at the Toll free number 1-888-258-2253. They can also utilize the vast unclaimed cash database of cash unclaimed (www.cashunclaimed.com) which uses a simple Name Match technology to help you find your unclaimed fund. Its advisable that the search for your unclaimed cash should be performed periodically because the funds are being relocated and registered at various times in the unclaimed databases.
Cashunclaimed.com is one of the largest databases for Florida state unclaimed money in the world. Our current database lists billions of dollars in unclaimed money, property, accounts and assets from all 50 states and several Federal agencies that could belong to you. There are millions of people who are owed FL state unclaimed money and they don't even know it!