Unclaimed Funds Payouts Increase

Oct 3, 2012

There’s been a big increase the past year in the number of Ohioans who’ve claimed long-forgotten checking or savings accounts, uncashed checks or insurance policies, and forgotten utility or rent deposits.

The number of people who’ve been re-united with their unclaimed funds has shot up more than 27%...although the total amount of money paid out has remained stable. Statehouse correspondent Bill Cohen asked Ohio Commerce Director David Goodman to explain the paradox. His answer? Many BIG claims have already been paid, leaving mostly smaller ones unclaimed:

That’s Ohio Commerce Director David Goodman, whose agency oversees the Division of Unclaimed Funds. He acknowledges that in many cases, the people who are owed money have died, but he stresses --- their heirs can collect the unclaimed money.