Thousands of Pennsylvanians should keep an eye on their mailboxes, as over 40,000 Money Match letters are being sent out this week to residents who are due unclaimed property. According to a CBS News Pittsburgh report, the program automatically returns property valued at up to $500 to rightful single owners and was set to distribute checks by June following a verification process, as stated by Treasurer Stacy Garrity.
Following the unanimous support of Senate Bill 24 last year, the Pennsylvania Money Match program seeks to expedite the return of funds without the need for a claim or submission of paperwork which previously residents had to seek out unclaimed property themselves, including money from dormant accounts, uncashed checks, and contents of safe deposit boxes, businesses report unclaimed property after three years, steps to verify the rightful owner's identity have been taken. Those with single-owner properties valued up to $500 are notified, and the checks will be sent accordingly.
State Treasurer Garrity, at an announcement heralded the initiative, stressing the importance of recipients cashing these checks, "Cash it. It's not a scam. It's your money," she said, in a detail shared by PennLive. The first round of the Money Match program saw 7,380 checks distributed, amounting to $1.7 million in total. Garrity reiterated the significance of the program and the checks as a rightful return to the residents.
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