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Saturday, July 26th, 2014
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Wednesday, 16 July 2014 08:33

Ohio returns $74.5M in unclaimed funds

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COLUMBUS, Ohio (AP) - Ohioans collected a record amount of previously unclaimed money from the state during the past 12 months.

The Ohio Department of Commerce's Division of Unclaimed Funds said Tuesday that nearly $74.5 million was paid to Ohio residents for the fiscal year that ended on June 30. That was an increase of 7.6 percent from the amount paid out the year before.

The money includes the balances of forgotten dormant or forgotten bank accounts; rent or utility deposits; uncashed checks and insurance policies; and undelivered stock certificates.

The Columbus Dispatch reports the state paid an average of more than $1,500 for 47,697 claims for the year. The biggest claim was for more than $743,000.

Since the effort began, about $1 billion has been returned. About $2 billion remains.

Associated Press

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