COLUMBIA, S.C. (WCBD) – State Treasurer Curtis Loftis on Tuesday announced the return of $35.3 million in unclaimed funds was returned to South Carolinians during the fiscal year that ended June 30.
The money comes from the Unclaimed Property Program, which receives millions of dollars each year from “companies that cannot locate the rightful owners” of the funds.
Funds typically come from sources like deceased relatives and old accounts, and the owners are unaware that they exist.
The Treasurer’s Office “acts as custodian of those funds until those owners can be located.”
A resident from Summerville shared the following experience:
“Funds were in a “Squirrel Saver’s” account started when my son was in the 1st Grade and (if I remember right) he made monthly deposits. Once he got into middle school, we forgot about it, and after bank mergers, the account was closed due to inactivity. They transferred the funds to you and now my son (19) has the funds back to use towards college!”
Loftis encourages people to check their names at least twice a year at this link to see whether they have any unclaimed funds.
The Treasurer’s Office currently has over $700M in unclaimed funds that it is working to return to rightful owners.