Knowledge — 4 months ago

BeenVerified Unclaimed Money Review: How Does Been Verified Unclaimed Money Service Work

by Robert C.

BeenVerified Unclaimed Money, Unclaimed Money Been Verified

BeenVerified Unclaimed Money: How Does It Work?

Your unclaimed money could be just a click away... Does some belong to you? If only a small portion of millions of dollars of unclaimed money is ever claimed, it does not seem to be the fault of the proactive policy of the state treasurers of the country. Mississippi has just given back $1.5 million of unclaimed property to its residents, the state of West Virginia has just given $1.7 million to a resident of Mercer County in February 2020, the largest individual unclaimed property check-in state history, $545 million of unclaimed money are available in Utah in 2020, etc... How about checking is some might belong to you? If the mood takes you, you can knock on the door of each county state treasurer's office, however, we offer you a way more simple solution: to appeal to the nationwide Unclaimed Money service of Been Verified!

What is Unclaimed Money?

With about $60 billion dollars of unclaimed money in all the United States, one should get into the habit of checking every year if a little surprise of unclaimed money awaits us somewhere. To satisfy your curiosity and culture, here's a ranking of states with the greatest amount of unclaimed money according to an estimation: 

1- New York: $16 billion
2- California: $8 billion
3- New Jersey: $4.25 billion
4- Texas: $4 billion
5- Massachusetts: $2.4 billion
6- Ohio: $2.3 billion
7- Pennsylvania: $2.3 billion
8- Michigan: $2 billion
9- Illinois: $1.8 billion
10- Delaware: $1.5 billion

Unclaimed Money
But what is unclaimed money and how come so much money is "on hold"? Unclaimed property and money are property and accounts within financial institutions or companies in which there has been no activity generated or no contact with the owner regarding the property for a designated dormancy period.

By the law, after this designated period of time, the property becomes unclaimed and must be turned over the state. Unclaimed money and property can come from past employers, from insurance, from tax refunds, from banking and investments, from unclaimed federal tax refund checks, from federal tax refunds, or refund checks.
 
It's important to understand that there is no government-wide and centralized information about unclaimed money. It is organized by state, and each state has its own unclaimed property database and service. It is usually held by the State Treasurer.

Unclaimed money or property are mostly intangible but can also be tangible, and come in various forms, such as:
  • Checking or savings accounts
  • Stocks
  • Uncashed dividends or payroll checks
  • Refunds
  • Traveler’s checks
  • Trust distributions
  • Unredeemed money orders or gift certificates (in some states)
  • Certificates of deposit
  • Customer overpayments
  • Utility security deposits
  • Mineral royalty payments
  • Contents of safe deposit boxes
  • Insurance payments or refunds and life insurance policies
  • Annuities
Unclaimed Money

How to Search For Unclaimed Money?

Unclaimed money is managed locally by each state treasurer. Every year, thousands of companies across all the country are filing an annual report of unclaimed funds and giving their unclaimed assets to the relevant state treasurer. Thereafter, the state treasurers are in charge of holding these assets and return it to the rightful owners.

This also means that there are new assets added every year, in each and every state. You may think that you only need to check for unclaimed money in the state where you live or have lived, but this unclaimed money can also come from your parents or other inheritance. Hence, you may need to check for unclaimed money in every state you have a bond with or even nationwide.

unclaimed money

Been Verified Unclaimed Money

Been Verified is a sturdy background check services provider, founded in 2007, that helps people dig into public records to find accurate information. With Been Verified, you can make a people search, look into criminal records, search into public records, make a reverse phone search, a reverse address search or even an email search. It also offers additional services such as the Unclaimed Money Search.

The Unclaimed Money search tool of Been Verified helps you to search into multiple databases and different official sources, which is very efficient some unclaimed money and assets may not turn over the state. These databases include but are not limited to: United States Judiciary (holding $247.8 million), Department of Homeland Security (holding $127.4 million), Department of Veteran Affairs, Securities & Exchange Commission, Department of Housing & Urban Development, Department of Justice, Department of Agriculture, Department of Energy, etc.

Been Verified
Using a service such as Been Verified's Unclaimed Money search tool will definitely help you to screen meticulously in multiple databases and see if some unclaimed money is waiting for you. 

How? Simply enter your name and any state you've resided in and Been Verified will search publicly available databases to see if there might be money in your name that awaits you. If you find money in your name, the search results will help locate and contact the appropriate agencies or organizations so that you can claim for it.

Been Verified makes the unclaimed money search very easy and quick. Important: governments warn citizens of growing threat of unclaimed money scams that ask and use your personal details and financial information. You'd better look by yourself through state treasurers or trustworthy websites such as Been Verified!

Do you know about GoLookup? A background check website providing an unclaimed money search service. The site searches through multiple data sources which include; insurance payments or refunds and life insurance policies, annuities, certificates of deposit, customer overpayments, utility security deposits, mineral royalty payments, and contents of safe deposit boxes. The service works with a monthly membership, so you can run unlimited searches with your account and also get access to their other tools which include background searches, people searches, and other public records searches.

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