Exciting News: Pennsylvania Money Match Checks Are On Their Way!
If you live in Pennsylvania, you might want to check your mailbox soon! In an exciting announcement on Monday, Treasurer Stacy Garrity disclosed that the first Pennsylvania Money Match checks will soon be landing in homes across the state. And guess what? Many recipients might be pleasantly surprised to learn they have unclaimed property waiting for them!
What Is Pennsylvania Money Match?
Pennsylvania Money Match is a groundbreaking program designed to help return certain unclaimed properties to their rightful owners automatically. As Treasurer Garrity stated, “In the coming days, more than 7,000 individuals will receive Pennsylvania Money Match checks totaling more than $1.7 million – and most had no idea they had unclaimed property at all!”
This innovative initiative aims to raise awareness about unclaimed property and assure residents that these funds are real, waiting, and belong to them.
Monthly Distribution of Checks
These Money Match checks will be distributed quarterly, creating a steady flow of financial relief for Pennsylvanians. The next batch is set to roll out in May, with approximately 40,000 letters containing checks following close behind.
Understanding Pennsylvania Money Match: Eligibility and Process
Who Can Benefit?
The Pennsylvania Money Match program is specifically tailored for individuals with single-owner properties valued at $500 or less. The state Treasury undertakes a rigorous identification and verification process to ensure that the funds are returned to their rightful owners without any added hassle.
However, it’s important to note that the program excludes properties valued over $500, as well as those with multiple owners. For these cases, claimants must still initiate a formal claim and provide necessary documentation.
For more details, you can visit the Pennsylvania Treasury’s Money Match page.
Unclaimed Property Explained
So, what exactly constitutes unclaimed property? Here’s a quick overview:
- Dormant bank accounts
- Uncashed checks
- Forgotten stocks
- Insurance policies
- Contents of abandoned safe deposit boxes
Under Pennsylvania law, businesses are required to report unclaimed properties to the Treasury after a period of three years without activity.
Did You Know?
Approximately one in ten Pennsylvanians is owed a share of the staggering $4.5 billion in unclaimed property still being held by the Treasury. The average claim value is around $1,600, making it worthwhile for residents to check what might be waiting for them!
Take Action: Find Your Unclaimed Property!
You can easily search for unclaimed property through the Treasury’s online database. In addition, the Treasury maintains records of military decorations, which can also be accessed through their website.
In Conclusion
With Pennsylvania Money Match checks rolling out soon, this is an excellent opportunity for many residents to discover funds they didn’t even know existed. As the program continues to gain momentum, make sure to keep an eye on your mailbox and visit the Treasury’s website to uncover what unclaimed treasures may belong to you!
Stay tuned for more updates, and don’t forget to spread the word! This is a real program, this is real money, and it really belongs to you!
