(The Center Square) — State Sen. Nikil Saval and Rep. Regina Young joined forces with Treasurer Stacy Garrity to assist 50 Philadelphians with finding and claiming over $46,000 in unclaimed property.
Staff from the Treasury and the Democratic legislators’ respective offices in Philadelphia joined constituents at the Eastwick Library to guide them through the process. The sum represents a small fraction of the $4.5 billion in unclaimed funds the Treasury oversees state-wide.
“One in every 10 Pennsylvania residents has unclaimed property — often, these are important resources that their families never realized they had coming to them,” said Saval.
According to the Treasury, the average claim is about $1,600. The figure waiting to be returned in Philadelphia alone is in excess of $730 million.
For many, their unclaimed property can leave them with a little extra money. For others, the outcome can be life changing. One of the participants at Eastwick discovered $33,640 owed to their family in unclaimed property.
“Whenever we can put money back into the pockets of the people we serve, especially during these times, it’s great,” said Young.
The property comes from paychecks that were never cashed, unused credit balances from stores and gift cards, forgotten safety deposit boxes, unsuccessfully returned payments, and a host of other scenarios in which businesses weren’t able to get money to the rightful owner.
Anyone can go to the Treasury website to search for unclaimed property. For those who have lived and worked in other states, a database pulling from each of the states and Canada can show search results for a person’s name and direct them to the appropriate state’s website when there’s a match.
The prospect of finding unclaimed property comes with a huge warning label, however. The internet is rife with scammers who use phishing attempts to convince individuals they can help them access unclaimed funds. The state doesn’t solicit individuals via text message, does not require payment for this service, and does not request personal information until a claim is filed through official channels.
“I urge anyone who receives a phishing message about unclaimed property to ignore it and promptly delete it.,” Garrity said. “Do not click on any links, and do not respond to these messages.”
The state’s aging population is especially vulnerable to predatory attacks like these. According to the FBI, over 3,000 victims reported a loss of over $118 million from scammers in Pennsylvania in 2023.
