You might be amazed to discover just how many Minnesotans could potentially cash in on hidden savings they never knew they had.
The Minnesota Department of Commerce returns record amounts of $62.6 million back to Minnesotans during fiscal year 2023, surpassing its previous high mark of $53.5 million set last year. This money comes from various sources of minnesota unclaimed money, such as dormant bank accounts, uncashed checks, unclaimed wages, and more.
Every year, the agency receives millions in unclaimed money from businesses that have lost contact with their owners and cannot locate their assets.
In 2023, the Commerce Department handled claims for more than 247,000 shares of stock and over 60,000 other types of financial property.
According to a news release issued by the Commerce Department, these are common types of unclaimed property:
- Dormant bank accounts,
- uncashed checks,
- wages unclaimed wages or benefits
- payments may go uncollected or even gone astray.
- Safe Deposit Box contents.
“Minnesotan residents owe money from financial institutions and other companies,” Commerce Commissioner Grace Arnold announced in the release. “We are encouraged by Minnesotans submitting more claims as this demonstrates an awareness of our work to collect and return unclaimed property.”
If you suspect money has gone missing from your accounts, search your name using the Commerce Department website.