Magaziner's "Your Money" Initiative Reunites Almost 50K People With Unclaimed Property

GoLocalProv Business Team

Magaziner's "Your Money" Initiative Reunites Almost 50K People With Unclaimed Property

Magaziner's YOUR MONEY Initiative has reunited nearly 50,000 people with unclaimed property.
Rhode Island General Treasurer Seth Magaziner announced that through his “Your Money” Initiative, his office has reunited almost 50,000 people with unclaimed property in the fiscal year that ended on June 30, 2018.

"Too many Rhode Islanders are still struggling to make ends meet, and we can help by returning money that is rightfully theirs. Our program makes Rhode Island only the second state in the country that automatically reunites thousands of people with their missing money with no paperwork or red tape,” said Magaziner.

Reuniting People With Unclaimed Property

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According to Magaziner’s press release, the office of the General Treasurer processed the return of 49,189 unclaimed property claims in the fiscal year that ended on June 30, 2018, breaking the previous record of 11,890 set in Fiscal Year 2014.

In total, more than $15.2 million in missing money was returned to its rightful owners in Fiscal Year 2018.

The average check size was $310.

Your Money

Magaziner launched the innovative "Your Money" program in November 2017.

Under "Your Money," unclaimed property checks are automatically mailed to individuals whose current address is already on file at the Department of Revenue and in other state databases.

For most recipients of "Your Money," the first time they know they have unclaimed property is when the check arrives their mailbox.

Rhode Islanders are encouraged to click here to see if they have any unclaimed property.


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