Thanks to a new online tool, Californias unclaimed property program announced Monday it has reunited nearly 15,000 individuals with roughly $1.1 million in payments in less than a month. The e-claim tool was introduced by state Controller John Chiangs office on January 24 as a way to avoid the traditional paper, snail-mail system of claiming lost funds.It promises to issue payments to consumers within 14 days.
The e-claim program is limited to single-owner accounts valued less than $500, such as uncashed paychecks, utility refunds, account balances. It does not include lost cashiers checks, stocks and mutual funds or the contents of safe deposit boxes. For details, call (800) 992-4647 or go online: www.sco.ca.gov.
Since the program started last month, the average amount repaid is $75. Although theyre small amounts, were saving people the headache of filling out paper forms and waiting for a check in the mail, said controllers spokesman Garin Casaleggio.
The states unclaimed property program is holding $6.9 billion in unclaimed property and financial accounts belonging to an estimated 24.9 million individuals. Under state law, banks and other businesses holding consumer accounts must turn them over to the state controllers office when theres been no activity for three years.
Call The Bees Claudia Buck, (916) 321-1968.