Why Unclaimed Cash Is Still A Problem

It may sound like a great problem to have – a bank vault filled to the brim with unclaimed cash. Yet all that unclaimed cash is proving to be a major debacle for federal and state treasurers. Most treasury offices don’t have enough manpower or resources to handle the unclaimed cash problem. With checks incessantly rolling in, it’s nearly impossible to find unclaimed cash owner information amongst all the clutter. To make matters worse, most people are completely unaware of the unclaimed cash problem and, even if they did know about it, they wouldn’t know how to find unclaimed cash that may be owed to them. This has caused a nationwide database to appear online called Unclaimed Money. To use it, you only have to insert your first and last name.

Understanding Unclaimed Cash

Treasurers across the country are trying to educate Americans on the importance of searching for unclaimed cash. The treasurers want everyday citizens to understand unclaimed cash and how it works. Most of all, they want people to realize where all of this money comes from. The first step in helping people understand unclaimed cash is to point them to the many sources for this phenomenon. It’s usually when they’re faced with the possibilities that people start understanding that they may in fact have lost or missing money coming to them after all.

 

The Many Sources Of Unclaimed Cash

Why Unclaimed Cash Is Still Sitting Around

You would think, with all the tracking technology and due to the fact that most money is electronic, that we would have licked the unclaimed cash problem long ago. It really is hard to believe that in this day and age, placing unclaimed cash with it’s rightful owners is still such an issue with no end in sight.