Feb. 18 is 'Unclaimed Property Day' at the State House

Published: Feb. 18, 2015 at 2:07 AM EST
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COLUMBIA, SC (News Release) - South Carolinians have more than $462 million in unclaimed property, and State Treasurer Curtis Loftis wants everyone to know about it.

On Feb. 18, the South Carolina General Assembly will recognize the Office of State Treasurer's Unclaimed Property Program by proclaiming the day as Unclaimed Property Day.

"The General Assembly and I want every South Carolinian to know about our unclaimed property program, so we can give their funds back to them," said Treasurer Loftis. "There are more than a million accounts waiting to be claimed, and it takes about two minutes to see if one belongs to you."

Last fiscal year, nearly 27,000 accounts worth $16 million were paid to South Carolina individuals and businesses by the Palmetto Payback unclaimed property staff.

Examples of unclaimed property include dormant bank accounts, uncashed checks (including paychecks), unclaimed insurance proceeds, forgotten utility deposits, uncashed dividend checks and unexchanged shares of stock. The State Treasurer's Office serves as custodian of unclaimed funds and holds them until claimed by the rightful owners.

The Palmetto Payback staff will provide free unclaimed property searches in the lobby of the S.C. State House from 9:30 a.m. to 3 p.m. on Feb. 18. For those unable to attend, a free online search is available at any time. Visit www.treasurer.sc.gov and click on the Palmetto Payback logo or email the staff at payback@sto.sc.gov.

For more information about Unclaimed Property Day, contact Linda Gamble at payback@sto.sc.gov or (803) 737-4771.

About the South Carolina Office of the State Treasurer

To serve the citizens of South Carolina by providing transparent, accountable and efficient banking, investment, and financial management services for South Carolina State Government. Our commitment is to safeguard our State's financial resources and to maximize return on our State's investments.