Ohio has $4 billion in unclaimed funds — how to get your share

CLEVELAND (WJW) – Want to keep a little extra money in your pocket? You might be in luck. Billions of dollars are still waiting to be claimed in Ohio.

of Ohio Department of Commerce The Unclaimed Funds Division reported last week that it has approximately $4 billion in unclaimed funds in its custody.

Unclaimed funds are “lost or forgotten money that businesses and banks report to the Unclaimed Funds Department, typically within three to five years after an account becomes inactive.” Ministry of Commerce.

Experts say the funds typically come from unused bank accounts, withdrawal and credit balances, stocks and bonds, uncashed cashier's checks, utility deposits and final paychecks.

Unclaimed funds can be found by search onlinePlease make sure you have the . required documents after that sending information Please contact our Unclaimed Funds Department online or by mail.

While the first claim is a quick process, experts say it could take months before you receive your money. FOX 8 reported in March.

recently press releaseThe Department of Commerce wanted to shed light on myths and misconceptions about unclaimed funds.

  • Yes, it is completely free to claim unclaimed funds. If you need assistance, our experts in the Unclaimed Funds Department can also guide you through the process.
  • No, unclaimed funds do not expire. They will be detained by the department until they are properly charged, officials said.
  • Just because you're careful with your financial management doesn't mean you'll run out of unclaimed funds. Officials say one in seven Americans has unclaimed funds.
  • Even if you claim money that was lost in the past, businesses in the state are required to report unclaimed funds each year, so you could be left with more money in the future.
  • Yes, it is okay to search to see if your family or friends have unclaimed money. It is also a good idea to check if the deceased's family has any unclaimed funds.

According to the Department of Commerce, Ohioans filed more than $139 million in claims last year.

Learn more about unclaimed cash in Ohio Here it is.

https://fox8.com/news/ohio-has-4-billion-in-unclaimed-funds-how-to-get-your-share/ Ohio has $4 billion in unclaimed funds — how to get your share

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