Huntington, CA (PressExposure) October 23, 2009 -- New York unclaimed money has been adding up in the vaults of the State controller's office for years now. At last estimate almost $10 billion of unclaimed cash is waiting to be reclaimed. The state owes more than $1 million to some of the New York residents.
According to an official, state has refunded almost $194 million to 9 million New Yorkers in 2008. "New York has $9.9 billion in unclaimed fund accounts. We want to return this money to its rightful owners," State Comptroller Thomas DiNapoli said. "The money belongs to New Yorkers. We want to give it back."
The financial security laws of the state directs banks, insurance companies, utilities, investment companies and many other businesses to surrender inactive accounts to the State. The unclaimed money is under the custody of the Office of the State Comptroller until it is reimbursed to its rightful owner.
The most important fact here is that the State of New York never takes ownership of the unclaimed money. Most of the unclaimed cash find their way to the state treasury through bank dividends, insurance payments, court settlements, tax rebates and a number of other sources. The State controller collects a 3% annual interest on the unclaimed money until it is reclaimed.
In the month of October, there will be events across the state of New York to help the state citizens in reclaiming their forgotten funds. At the AARP CHAPTER 2889 in Elmhurst, Staff from State Comptroller Thomas P. DiNapoli's office will be present on Wednesday, October 21, 2009 to assist the residents in their search for unclaimed funds. The top unclaimed cash account equals $1.7 million for someone in the New York suburbs. There are a couple of other clueless citizens who have unclaimed funds of $1.4 million and $1 million.
New Yorkers can inquire about their unclaimed funds through the state administered website, http://www.osc.state.ny.us or call Toll-free number at 1-800-221-9311. You can also utilize the vast database of http://www.cashunclaimed.com covering almost all the states. Cashunclaimed also has a patent pending Name Match technology which makes the search for unclaimed cash much easier for majority of the New Yorkers.
Cashunclaimed.com is one of the largest databases for New York 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 New York state unclaimed money and they don't even know it!