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I was compensated for this post by the Illinois Treasurer’s I-Cash program. All thoughts and opinions are my own.
The I-Cash program was founded in 1999 with the goal of assisting Illinois residents in reclaiming their recovered assets. The Illinois Treasurer is currently safeguarding more than $2 billion in cash and 20 million shares of stock and mutual funds that need to be returned to Illinoisans. These assets are transferred to the Treasury after banks, government agencies, and other companies become unable to return them to their rightful owners.
The I-Cash website (http://www.illinoistreasurer.gov/) is a free and easy way for people to discover if they have cash or other assets to recover.
The process is simple:
1. Enter your name (or a family member or friend’s name) into the online search field
2. If it’s a match, submit the online claim form
3. Receive your property in an average of three weeks’ time and enjoy!
With more than 13 million names in the I-Cash database, one in four Illinois adults who search the website discovers property to claim. The average claim is about $1000, while the highest claim was more than $8 million in 2012. You never know what you might find.
How does money become unclaimed you ask? People move, relatives pass away and banks are required by law to turn over any unclaimed property. It’s in your best interest to check and see if you have any recovered property held by the Illinois Treasurer! Just think you could find a paycheck you forgot to pick up and go on a mini-vacation with it! It’s summer, buy a pool! People have been known to find old war medals, stocks, old utility deposits, or they find inheritances that they never knew they had or just money that had been misplaced.
It seems that my family and I have been too diligent in keeping track of our money so we personally did not have any to claim but I know quite a few people who have found up to a couple hundred dollars! That could buy a few tanks of gas or start a college fund.
It only takes a second to check so don’t hesitate! You or your loved ones could have cash waiting for you. Let me know if you find any!
To check for unclaimed money or property please visit: http://www.illinoistreasurer.gov/