UPDATE: TN has $890 million in unclaimed cash - Is any of it yours?
The Tennessee Department of Treasury is holding more than $890 million dollars that is just waiting to be reunited with its rightful owners.
UPDATE: People in the Tennessee Valley are finding money they didn’t know they had in the Tennessee Department of Treasury’s unclaimed property account.
It’s all thanks to a Channel 3 report that aired in November.
After the story, several viewers called, emailed and sent Facebook messages to share their success.
Some people learned they had a few dollars while others had thousands of dollars waiting for them.
“We had a tremendous response from Chattanooga and Hamilton County. We started getting claims almost immediately and are still continuing to get claims,” said Shelli King with the Tennessee Department of Treasury.
The state has more than $800 million sitting in the unclaimed property account. The money belongs to consumers and businesses and comes from forgotten bank accounts, old paychecks, insurance policies or utility deposits.
Some claims only take a few weeks while older claims can take longer.
See if you have unclaimed cash by visiting ClaimItTN.gov.
There are websites that make you pay to get your money, however, the Tennessee Department of Treasury will never charge you a fee.
PREVIOUS STORY: Most people don’t think to go on the Tennessee Department of Treasury’s website and search for unclaimed property, but the money is piling up and some of it may be yours.
Tennessee is holding more than $890 million dollars that belong to individuals and businesses and it’s just waiting to be returned.
“Money comes from businesses across the state that have a refund or for whatever reason can’t get a check back to an individual. After three years, they turn it over to the state and it’s our job to reconnect that money with the rightful owner,” said Shelli King with the Tennessee Department of Treasury.
The unclaimed property fund includes things like forgotten bank accounts, old paychecks, insurance policies, stocks, bonds, utility deposits or refunds and contents of abandoned safety deposit boxes.
Last year, the state returned $47.9 million dollars in unclaimed property.
There is no time limit when it comes to claiming your money and the state will never charge you a fee.
“If you are asked to pay a fee to claim property, you’re not working with the Tennessee Treasury Department,” King told Channel 3.
However, there are still some websites that will charge you, so be aware of them.
To search for your name and file a claim with the state, visit ClaimItTN.gov. You can also search for relatives who have passed away and claim the money in their name.
Channel 3 spoke with Jeremy Landreth who said he recently went on the state’s website to claim money and the process was simple.
“It’s really easy and it’s right there so why wouldn’t you do it? Go get your money, it’s there,” said Landreth.
He says he collected more than $200 from old electric bills.
“Some claims can be as small as just a few dollars but some can be upwards of more than $10,000 to $20,000,” said King.
It usually takes a few weeks to process your claim.
In Hamilton County alone, there’s more than $32 million dollars in unclaimed property.