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Sunday, June 27, 2021

Treasurer Magaziner Sending Unclaimed Property Checks to 15,000 People

Returning more than $2.5 Million in Missing Money to Rightful Owners

General Treasurer Seth Magaziner announced that nearly 15,000 people will receive $2.5 million in missing money through the YourMoney program, a system developed by Treasurer Magaziner which automatically sends unclaimed property checks to eligible claimants. Checks up to $2,500 will be mailed starting this week.

"As General Treasurer, I’m committed to putting money back into the pockets of hardworking Rhode Island families, which is why my administration created YourMoney program,” said General Treasurer Seth Magaziner. “Particularly during these tough economic times, every bit of money helps, and I’m proud to provide this relief on behalf of the Office of the General Treasurer.”

Unclaimed property can include money left in old bank accounts and safe deposit boxes, uncashed paychecks, unreturned utility deposits, and uncollected insurance proceeds. The Rhode Island General Treasurer’s office keeps this money safe and proactively works to return the money back to its rightful owners.

The YourMoney program matches the unclaimed property database with secure address and identity information so that missing money can be returned automatically. Under the Magaziner administration, more than $80 million has already been returned to over 116,000 people through the Unclaimed Property department, with the Your Money program effectively launched in 2017 and then expanded this year to include small businesses.

“We are excited to roll out yet another YourMoney initiative and eager to continue to reunite Rhode Islanders with money that is rightfully theirs,” said Deputy Treasurer and Unclaimed Property Director Lammis Vargas. “Every penny helps a family with either putting gas in their cars, utility, medical expenses, buying groceries, or adding it to their savings, while at the same time giving a boost to the economy."

While YourMoney automatically matches thousands of Rhode Islanders with the unclaimed property, we continually update our database, receive thousands of new properties every year and encourage all Rhode Islanders to visit to see if the Treasurer’s Office is holding their unclaimed property.