South Dakota treasurer’s office sending out checks for qualifying unclaimed funds
SIOUX FALLS, S.D. (Dakota News Now) -
The check is in the mail. That is the reality for ten thousand people who have unclaimed funds, now sitting in a bank account with the South Dakota treasurer. If you qualify, you could be one of 10,000 South Dakotans to receive a check in the mail from the South Dakota treasurer's office.
South Dakota State treasurer Josh Haeder likes it when he can write checks to people. He's in charge of returning money that has been forgotten and forwarded to his office.
"Our goal, our constitutional obligation is to find the rightful owners of that of those funds and that property and get it back to them as quickly as we can," said Haeder.
600 million dollars of unclaimed money is sitting in a state bank account waiting to be returned. Many are surprised to see their name on the list from something financial they forgot. The money often ends up in limbo when someone moves and there's no forwarding address. The largest amount is one million dollars. Typically the higher dollar value amounts are more complicated and require additional documentation.
"Overpayments to credit cards bills, it can be gift cards, things of that nature can also be from financial accounts," said Haeder.
In the past, a person on the refund list could file a claim to receive a check. The new "Cash it" program means a check will automatically be sent out to those who qualify. The state is launching an ad campaign to make sure checks don't end up in the trash.
"We're excited that we have the ability to take some of the burden off of the people of South Dakota, especially during these difficult times, and return the funds to them," said Haeder.
Find out if your name is on the list for money that could be coming to you go to www.sdtreasurer.gov
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