United States
Consumer Support for Unclaimed Property Events
Many States in the United States have enacted State unclaimed property laws under which a Card Issuer may be required to escheat the Gift Card to the State in an amount and at the time required by State law if you have not used your Gift Card within a certain time period. Escheat is a legal term that refers to, among other things, the process where the custody of property is transferred to the State when an individual is deemed to have abandoned that property. These time periods for abandonment are set by State law and, depending upon the State, usually are two-year, three-year or five-year periods. If the balance of your Gift Card becomes unclaimed property subject to a State’s unclaimed property law, then the Card Issuer may be required to pay the balance of the Gift Card to the State in an amount and at the time required by the State law – at which time the State will hold the balance for you as a custodian. At that time, you may lose the ability to use your Gift Card to buy goods and services. If this occurs, you may inquire about the status of your Gift Card by contacting us. See Contact Us.
Depending upon the State and the card program, the Card Issuer may or may not be required to send a notice to you prior to escheating you Gift Card to the State. If you have 1) received a notice of escheat or 2) discovered that your Gift Card has been escheated to the state, please see the Frequently Asked Questions below for more information on what to do. And for general background information about concept of escheat and unclaimed property, visit unclaimed.org.
Unclaimed Property Notice of Escheat FAQs
Below is a set of frequently asked questions regarding unclaimed property notices that are sent to property owners before their property is escheated to a State. These FAQs are designed to assist you with answering some questions you may have if you received this notice about your property.
The 50 States of the U.S. and several territories (the “States”) have enacted statutes that require the holders of unused property to report and remit the property to a State if the property is abandoned by the property owner. These statutes deem a property to be abandoned by its owner if it remains unused or unclaimed by the owner for a period of time specified in the statute. These time periods vary but typically range from 1 year to 5 years of non-use. For general information about unclaimed property and escheat visit missingmoney.com/.
Your property falls into a category of properties which we are required to report and remit to the State pursuant to its unclaimed property statute. The types of property that are subject to escheat vary from State to State. Examples are bank accounts, general purpose reloadable (sometimes called GPR) cards, payroll cards, government benefit cards, and gift cards depending upon the State.
The notice is required by an unclaimed property statute of a State. It is sent to you on behalf of the issuer or holder, to provide you an opportunity to stop the escheat of the property to a State by responding to the notice and claiming your property.
You can claim your property from the State after it has been reported to the State.
If you do not respond to the notice, your property will be reported and remitted to the State via the escheat process.
If you do not respond to the notice, your property will be reported and remitted to the State via the escheat process. If you would like you can claim the property from the State.
No. If your property is escheated to a State, the State will hold the property as a custodian so that it later can be claimed by you from the State.
Instructions are included in the notice. Please follow the instructions.
A deadline to respond to the notice is provided in the notice. If you do not respond prior to the deadline, your property will be escheated to the State.
Generally, a deadline to respond to the notice is provided in the notice. You should be able to use your property [card] prior to the close of business on the deadline. At the close of business on the deadline, the balance on the property [card] will be reduced to zero to carry out the escheat. At that time, you will no longer be able to use the property [card].
Each State has a process by which you may claim your property back from the State. You can find that process on the State’s governmental websites. Typically, unclaimed property and escheat are addressed by an Unclaimed Property section of the Treasury Department of the State.
Generally, the answer is unfortunately, no. Pursuant to the unclaimed property statutes, the property has been reported and remitted to the State. Therefore, you will need to claim it from the State.
My Gift Card Has Been Escheated FAQs
Below is a set of frequently asked questions regarding when property has been escheated to a State. These FAQs are designed to assist you with answering some questions you may have if your property has already been escheated.
The 50 States of the U.S. and several territories (the “States”) have enacted statutes that require the holders of unused property to report and remit the property to a State if the property is abandoned by the property owner. These statutes deem a property to be abandoned by its owner if it remains unused by the owner for a period of time specified in the statute. These time periods vary but typically range from 1 year to 5 years of non-use. For general information about unclaimed property and escheat visit https://missingmoney.com/.
An unclaimed property statute enacted by a State requires the issuer to escheat the unclaimed property to the State. This process is accomplished by the company filing an unclaimed property report with the State accompanied by a payment remitted to the State with respect to the escheated property.
Your property fell into a category of properties which the issuer was required to report and remit to the State pursuant to its unclaimed property statute. The types of property that are subject to escheat vary from State to State. Examples are bank accounts, general purpose reloadable (sometimes called GPR) cards, payroll cards, government benefit cards, and gift cards depending upon the State.
No. If your property is escheated to a State, the State will hold the property as a custodian so that it may be claimed by you from the State.
Yes. Each State has a process which allows persons like you to make such claims.
If you had received a Notice of Escheat that name of the State should be identified on that Notice. If you did not you can contact the Issuer who is identified on the back of the card and they should be able to provide you that information.
Each State has a process by which you may claim your property back from the State. You can find that process on the State’s governmental websites or by first checking missingmoney.com/. Typically, unclaimed property and escheat are addressed by an Unclaimed Property section of the Treasury Department of the State.
Unfortunately, no. Pursuant to the unclaimed property statutes, the property has been reported and remitted to the State and its balance has been reduced to zero. Therefore, you will need to claim it from the State.
Generally, the answer is unfortunately, no. Pursuant to the unclaimed property statutes, the property has been reported and remitted to the State. Therefore, you will need to claim it from the State.