If you are looking for a way to find unclaimed money, then you might be wondering what are the most common ways to do so. Whether you want to claim free money or you need to process an insurance claim, there are several different methods you can use. However, you should be cautious because there are some scams out there that are looking to take your hard earned cash.
Free or unclaimed money is appealing to many people
Finding free money on the web isn’t a new fad. The National Association of Unclaimed Property (NAUP) claims it has billions of dollars available. However, the federal government has no central website to locate unclaimed funds. That makes for an interesting conundrum.
There are a number of companies out there that claim to locate and match your check. While they may indeed find your check for you, they won’t take payment until they’ve found the money. A more legitimate way to recoup your check is by filing a claim with the financial institution that issued the check in the first place. This can be done through the state or federal government. If your state or federal government doesn’t have an online claim form, you may have to turn to your local jurisdiction.
It’s not always easy to tell the scam from the legit. One of the best ways to do this is to make sure you’re using a site that carries the Better Business Bureau seal of approval.
Bank accounts, insurance policies, or your state government
There is more to unclaimed money than simply throwing money in the air. If you have an old bank account, an insurance policy, or even your state government, you could be entitled to some good old fashioned cash. The most efficient and cost-effective way to claim this money is to file a claim with your local county or state government.
While you are at it, consider making a request with the federal agency responsible for certifying payments. This is a great place to start, since the agency administers the Unclaimed Property Program, a centralized repository for all the unclaimed monies. In fact, it has become a standard practice for businesses to make their money-lost claims through this agency. You may be surprised at what you find.
For instance, if you have an unclaimed check from your bank, you could get your money back by using the services of an outfit like Insta Checks. Similarly, if you have an unclaimed insurance policy, you could get your money back by claiming the right kind of claim through a reputable insurer.
Scammers pretending to work for NAUPA
If you receive an e-mail with a subject line that states “National Association of Unclaimed Property Administrators”, it is most likely a scam. In this e-mail, you are asked to provide your personal information in order to claim an unclaimed fund. The fraudsters usually use your information for identity theft.
Some scams are run from overseas. This is because it is much harder to track and catch fraudsters who work from abroad. Scammers often contact people randomly, using professional-sounding language. They play on the notion that you are entitled to a huge sum of money. These are the kind of scams that have ensnared consumers in several states.
Typically, these phony e-mails are sent from a non-existent NAUPA regional auditor. In this case, the fraudsters are impersonating the real organization and the letterhead is fake. It cites federal statutes and IRS rules. Aside from that, it claims that you are the second-place winner in an unclaimed property sweepstakes. To claim your prize, you will have to pay $2250 in registration stamps.
Documentation required to process a claim
When filing a claim for unclaimed money, it is important to know what documentation is required. This can vary by state, but most claims require a completed claim form, social security number, and some type of identification. There may also be additional documentation requirements depending on the type of claim.
Some states require a complete claim package, such as a notarized affidavit, in order to process the claim. Other states accept a copy of the required documents, but the claimant must still submit the originals.
The type of claim you file will affect the time it takes to receive your funds. For example, the Department of Veterans Affairs processes claims faster than some states. However, the time to receive your claim will vary depending on the volume of claims filed, the nature of the claim, and other factors.
The documentation required to process a claim for unclaimed money may include a completed claim form, a notarized affidavit, and a photocopy of government issued identification. If a person is unable to submit the documentation online, they can mail it in and send it to the proper address.