United States
State Unclaimed Property Reports – FAQs by Cardholders
Last Revised Date: December 26, 2024
To assist with customer service regarding unclaimed property and escheat, below is a set of frequently asked questions regarding the filing of unclaimed property reports with the States. These FAQs are designed to assist individuals engaged in customer service or support and who need to respond to persons whose property has been escheated. A separate set of frequently asked questions addresses the impact of the due diligence notices provided to a person whose property is subject to escheat.
For questions about escheat notices go to Unclaimed Property Notices Frequently Asked Questions by Cardholders.
Our records show that your card has been remitted to a State pursuant to the State’s unclaimed property statutes which address unused properties. For more information about the unclaimed property statutes, please review the additional FAQs provided below.
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 companies like us 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 we were 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. In your case, the property was a ____.
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.
Our records show that your property was escheated to ___.
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.
[Alternative Answer One] We have designed a system so that you can use your property before and after it is escheated to the State. For example, if the property is a gift card then you may proceed to use the gift card as if it has not been escheated. [Alternative Answer Two] 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. [Note: Use Alternative One if the program is using the Escheat Override feature. Use Alternative Two if the Escheat Override feature is not being used.]
[Alternative Answer One] Yes. We will be happy to assist you with that process. [If this alternative is used, then include script for the applicable process.] [Alternative Answer Two] 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. [Note: Use Alternative One if the program is using the Escheat Appeasement feature. Use Alternative Two if the program is using the Straight Escheat feature.]