Imagine discovering money you didn’t know you had, just waiting to be claimed. In Pennsylvania, this isn’t just a dream – it’s a reality for many residents. The Pennsylvania Treasury is actively working to return unclaimed money to its rightful owners. You might be surprised to learn that unclaimed funds can come from various sources, and understanding how the system works is the first step to potentially finding money that belongs to you.
Understanding Pennsylvania’s Unclaimed Property System
Unclaimed property, often referred to as unclaimed money, refers to financial assets that have been forgotten or abandoned by their owners. In Pennsylvania, when companies or financial institutions cannot locate the rightful owner of funds, these assets are legally turned over to the Pennsylvania Treasury. This can include dormant bank accounts, uncashed checks, stocks, insurance payouts, and even forgotten utility refunds.
One area where unclaimed money can accumulate is through government payments, including unemployment benefits. While the state aims to deliver these benefits efficiently, sometimes payments can become undeliverable or remain unaccessed, potentially becoming unclaimed property.
How Pennsylvania Manages Benefit Payments and Potential Unclaimed Funds
To streamline the delivery of unemployment benefits, particularly Pandemic Unemployment Assistance (PUA) and Federal Pandemic Unemployment Compensation (FPUC), Pennsylvania utilizes prepaid debit cards called U.S. Bank ReliaCards. This system is designed for secure and prompt payment delivery.
If you are eligible for PUA or FPUC benefits and haven’t requested direct deposit, you will automatically receive a ReliaCard. This card will arrive in a plain envelope, postmarked from Indianapolis, IN, approximately 7 to 10 business days after your initial payment is issued. It’s crucial not to discard this mail, as it contains your benefits payment method.
The ReliaCard functions like a Visa debit card, allowing you to make purchases, get cash back, pay bills, and withdraw cash at ATMs. You can manage your card through a mobile app or website (usbankreliacard.com), and even set up alerts for deposits. For those who prefer traditional banking, funds can also be transferred from the ReliaCard to your personal bank account. While convenient, it’s important to note that some transactions and services associated with the ReliaCard may incur fees. Detailed information about fees and card usage is available here.
While the ReliaCard offers an efficient payment method, recipients also have the option to request benefit payments via check. However, requesting checks may lead to slower delivery times due to processing and postal service schedules. Check payments are sent via regular first-class mail and typically take 4 to 6 business days to arrive after filing. It’s also important to be aware that high volumes of benefit payments can sometimes cause unpredictable delays in check processing and delivery.
If you prefer to receive your benefits by check, you can visit the Pennsylvania Treasury website at https://www.patreasury.gov/ucpuachoice to submit your request.
Could You Have Pennsylvania Unclaimed Money?
Whether it’s from uncashed benefit checks, forgotten bank accounts, or other sources, there’s a possibility that you might have unclaimed money waiting for you in Pennsylvania. The Pennsylvania Treasury provides a free and easy-to-use online search tool to check for unclaimed property.
Take the proactive step to see if Pennsylvania is holding unclaimed funds in your name. It’s your money – go find it!
