editor's note: An earlier version of this story incorrectly stated Tuesday is Unclaimed Property Day.
South Carolinians have more than $462 million in unclaimed property being held for them by the state treasury. To increase awareness of the program the legislature is expected to proclaim Wednesday as “Unclaimed Property Day.”
“The General Assembly and I want every South Carolinian to know about our unclaimed property program, so we can give their money back to them,” said state treasurer Curtis Loftis. “There are more than a million accounts waiting to be claimed, and it takes about two minutes to see if one belongs to you.”
Last fiscal year, nearly 27,000 accounts worth $16 million were paid to South Carolina individuals and businesses by the Palmetto Payback unclaimed property staff.
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Examples of unclaimed property include dormant bank accounts, uncashed checks (including paychecks), unclaimed insurance proceeds, forgotten utility deposits, uncashed dividend checks and unexchanged shares of stock. The State Treasurer’s Office is the custodian of unclaimed funds and holds them until claimed by the rightful owners.