More than $9 million worth of checks are hitting Pennsylvanians' mailboxes. The state says to cash them.
More than $9 million worth of checks are hitting Pennsylvanians' mailboxes, and the state treasurer is encouraging people to cash them.
The Pennsylvania Treasury says nearly 40,000 checks totaling $9.2 million have gone out to people through the second round of the Money Match program.
"It's exciting to see so many people getting money they didn't know they had," Treasurer Stacy Garrity said in a press release. "It's now important that people cash these checks. We want everyone to know this is a real program and this is real money. Every dollar we return to Pennsylvania families is money they can use to buy groceries, fill up their cars with gas, or pay their rent or mortgage. This money belongs to them, not the state."
How do I get a Money Match check?
If one of these checks are heading your way, you should already know. The Treasury sent notification letters to Pennsylvanians in early May telling them that unclaimed property would automatically be returned to them.
The Pennsylvania Money Match program allows the Treasury to automatically return single-owner properties valued at up to $500 after a thorough identification and verification program.
Under the program, checks will be sent quarterly. The Treasury says the next batch, which includes about 40,000 letters, will go out in August. The Treasury plans to return $30 million this year.
Unclaimed property includes things like dormant bank accounts, uncashed checks, forgotten stocks and insurance policies. It also covers tangible items like the contents of abandoned safe deposit boxes.
The Treasury says more than one in 10 Pennsylvanians has unclaimed property, and the average claim is worth more than $1,000. You can find out if you're owed unclaimed property .
Legislation looks to expand program
The Money Match program was signed into law by Gov. Josh Shapiro last year.
The Treasury says there's movement in both chambers of the General Assembly to increase the threshold for Money Match, allowing more unclaimed property to be automatically returned.
Right now, the program doesn't apply to claims for properties valued above $500 or those that have multiple owners or other complexities. Those people still need to file a claim online and provide the required documentation.
