Could part of $500 million in unclaimed money be yours? The SC treasurer thinks so

Every year, companies turn over billions of dollars to states, and South Carolina is joining an effort officials hope will become a one-stop shop to find unclaimed money.

The S.C. Unclaimed Property Program, administered by the State Treasurer’s Office, is seeking the rightful owners of more than $500 million.

S.C. Treasurer Curtis Loftis announced South Carolina has joined a website, MissingMoney.com, where users can search for unclaimed property. MissingMoney.com is a national database that includes unclaimed property being held by 42 states and provinces.

The funds typically come from bank accounts, uncashed checks, stock certificates, insurance policies and utility deposits.

Loftis said his office returned more than $23 million in unclaimed property to South Carolina residents during the 2015-16 fiscal year, a 28 percent increase from the previous year, with the help of its own unclaimed property search.

Loftis said by joining MissingMoney.com, South Carolinians can use a single source for locating property across the country.

“Many people in South Carolina have lived or worked in other states, so it’s a good idea for them to check each state’s unclaimed property program for money they may have left behind,” Loftis said. “... This is just another way we can help reunite individuals with their lost funds.”

If a search indicates there is unclaimed property, the owner will be provided information on how to start the claims process.

The database is updated every week and is free to use.

The website is endorsed by the National Association of Unclaimed Property Administrators. Loftis serves as the organization’s senior vice president and will become president in 2017.

This story was originally published August 24, 2016 at 1:55 PM with the headline "Could part of $500 million in unclaimed money be yours? The SC treasurer thinks so."