Ohio May Be Holding Your Money- Claimed Your Cash

Are you forgotten your money in ohio? Now It’s time to claimed your unclaimed money After the holidays, who couldn’t use a little extra cash?

Suppose you’ve depleted your finances by buying gifts for loved ones or planned family gatherings.

In that case, you might want to see if you’re one of the hundreds of thousands of Ohioans owed roughly $3 billion by the state’s Division of Unclaimed Funds.

Every year, the division returns tens of thousands of dollars to individuals, businesses, and other organizations who discover the state is holding rent, security, or utility deposits; uncashed checks or money left in forgotten savings accounts since banks closed them for inactivity; or uncashed insurance policies.

“It’s satisfying and wonderful to be able to return money to people who didn’t realize they had lost it,” said Akil Hardy, superintendent of the Ohio Department of Commerce’s Unclaimed Funds division. “It means a great deal to a lot of people.”

According to Hardy, the division is in charge of processing funds that Ohio businesses or financial institutions have been unable to restore to their lawful owners, usually within three to five years.

More than $257.7 million in unclaimed funds comes from 13,497,866 accounts with $100 or fewer balances.

And, while most people aren’t in a rush to submit claims for a penny, which the division does track, the most significant amount of money awaiting claim in Ohio is a stunning $6.3 million. Hardy said the division doesn’t reveal who is owed how much money, but in this case, the rightful owner of the millions of dollars that have gone unclaimed since 2012 is unknown to the government.

While the lack of a name makes it more challenging to locate the rightful owners, other information was provided,” Hardy added. “We would still be able to match them up and refund the property if a claimant came to us with the correct information.”

The division advertises in newspapers in all 88 counties, as required by Ohio law, stating the names and addresses — or a PO box — of persons and parties owed $50 or more in the previous year.

The names of thousands of people owed money through the program were listed in a 48-page advertisement supplement placed in The Dispatch this year by the Division of Unclaimed Funds.

Individuals aren’t the only ones who may find themselves owing money. Greater Columbus businesses, hospitals, fire departments, city governments, school districts, and even fellow state agencies were also listed.

For example, the journal highlighted Nationwide Mutual Insurance Co., a Fortune 500 corporation whose corporate headquarters are prominently visible on the Downtown skyline.

Then there’s Columbus State Community College, located in the Discovery District downtown.