RI Treasurer Sending $2.5 Million In Unclaimed Money To Residents

PROVIDENCE, RI — Approximately 15,000 Rhode Islanders will receive a check from Treasurer Seth Magaziner's office, thanks to the YourMoney program. The system, which automatically sends unclaimed checks to residents entitled to them, is set to mail $2.5 million in unclaimed money.

The program was developed by Magaziner as a way to help reunite Rhode Islanders with their missing money. The first checks up to $2,500 will be sent this week.

"As General Treasurer, I’m committed to putting money back into the pockets of hardworking Rhode Island families, which is why my administration created YourMoney program," Magaziner said. "Particularly during these tough economic times, every bit of money helps, and I’m proud to provide this relief on behalf of the Office of the General Treasurer."

Unclaimed property includes money left in old bank accounts and safe deposit boxes, uncashed paychecks and collected insurance proceeds. The money is held by the General Treasurer's office, where it can be claimed.

The YourMoney Program matches the unclaimed property database with identity and addresses on file to automatically send checks to their rightful owners. To date, more than $80 million has been returned to approximately 116,000 people. The program has been in place since 2017, and this year expanded to include small businesses.

"We are excited to roll out yet another YourMoney initiative and eager to continue to reunite Rhode Islanders with money that is rightfully theirs," said Deputy Treasurer Lammis Vargas, the director of the Unclaimed Property program. "Every penny helps a family with either putting gas in their cars, utility, medical expenses, buying groceries, or adding it to their savings, while at the same time giving a boost to the economy."

Rhode Islanders can visit findrimoney.com to see if the treasurer's office holds any of their unclaimed property.