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Virginia Department of the Treasury staff helped Danville residents find a total of $103,230.91 during an unclaimed property virtual call event that was held on June 3-4 for local citizens who might be owed funds they don’t know about.
Treasury workers looked up 542 names during the two days.
The event was held in partnership with the City of Danville’s Treasurer’s Office, which has already saved the dates of Dec. 1-2 to hold this event again.
The State Treasury’s Unclaimed Property Division operates essentially as a centralized lost and found. It handles unclaimed money and property turned over by companies when they have lost track of the rightful owner.
Unclaimed property can include utility deposits, customer refunds, unpaid wages, money from insurance policies, securities and investments, bank accounts, and tangible property.
Under Virginia law, any funds in dormant financial accounts must be turned over to the state government, which holds them in trust. Examples of dormant accounts include a company that sent a check but was never cashed or perhaps a loved one who died with money he or she never collected.
The State Treasury’s Unclaimed Property Program is a consumer protection initiative to benefit citizens. No commissions or fees are charged.
Besides the virtual call event, citizens can always go online 24/7 to www.vaMoneySearch.org and search for their name for unclaimed property.
There is no charge for searching, either at community-outreach events or through the website at www.vamoneysearch.org.
State officials caution consumers to be aware of fee-based unauthorized or unsolicited offers and make sure they are working with an authorized state representative.